Overview
- Thailand’s Securities and Exchange Commission has lodged a criminal complaint accusing Bitkub and two former directors of concealing a May 2021 cyberattack that withdrew about 1.7 billion baht in 16 tokens.
- The SEC says Bitkub’s daily net‑capital reports from May through October 2021 failed to show the loss and that former directors Sakolkorn Sakavee and Thaweesap Rawan made false entries to mislead the regulator.
- The complaint was filed with the Economic Crime Suppression Division and in late July 2026 was passed to police and prosecutors who will decide whether to seek public prosecution.
- A former director, Sakolkorn Sakavee, posted a video taking responsibility, saying he altered filings and withheld news of the theft to avoid panic withdrawals; he has resigned and pledged to cooperate with investigators.
- Bitkub says co‑founders bought replacement assets so customers were reimbursed by October 2021, but the SEC’s action raises legal and reputational risks that could deter underwriters, partners, and any future listing attempts and signals tougher oversight of crypto firms in Thailand.