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Thailand SEC Files Criminal Charges Against Bitkub Over $50M Cyberattack False Disclosure

Enforcement Actions Security Incidents

2026-07-24 13:00:50

Thailand's Securities and Exchange Commission (SEC) filed criminal charges against digital asset exchange Bitkub Online and two former directors over false disclosures related to a May 2021 cyberattack. The SEC said the attack resulted in the theft of 16 digital assets worth approximately $50 million (1.7 billion baht). Bitkub restored the stolen assets by October 31, 2021, but failed to accurately reflect the asset reduction in daily net liquid capital reports submitted between May 10 and October 30 that year. Bitkub responded via X, stating the case stems from a disclosure decision following the cyberattack rather than fraud, and that delayed disclosure was made to prevent bank runs. The exchange said its co-founder purchased equivalent digital assets to cover the stolen funds, with neither the company nor customers suffering financial losses.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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