SEC · Cointelegraph Thailand
Thailand’s SEC filed a criminal complaint against Bitkub and two former directors over alleged false disclosures linked to a 2021
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Thailand’s crypto industry is facing fresh regulatory scrutiny after authorities accused Bitkub, one of the country’s largest digital asset exchanges, of providing false information to regulators.
Key facts
- The SEC said a cyberattack in May 2021 resulted in the theft of 16 types of digital assets from Bitkub, worth about 1.7 billion baht ($50 million)
- According to the SEC, reports submitted between May 10 and Oct. 30, 2021, did not show a significant reduction in the exchange’s assets following the theft
- Thailand’s SEC filed a criminal complaint against Bitkub and two former directors over alleged false disclosures linked to a 2021 cyberattack involving $50 million in assets
- In December 2025, Bitkub confirmed to Cointelegraph it was considering an initial public offering (IPO), including a potential listing in Hong Kong
Summary
Thailand’s SEC filed a criminal complaint against Bitkub and two former directors over alleged false disclosures linked to a 2021 cyberattack involving $50 million in assets. Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against Bitkub Online and two former directors over alleged false reporting connected to a 2021 cyberattack, the regulator announced on Thursday. The complaint names former Bitkub directors Sakolkorn Sakavee and Thaweesap Rawan, who the SEC said were responsible for submitting company reports during the period under investigation. The case comes as Bitkub’s parent company considers a potential public listing, putting renewed attention on transparency and governance at one of Thailand’s most prominent crypto businesses.