Thailand SEC Accuses Bitkub of False Disclosures After $50 Million Hack

Bitkub Online is one of Thailand’s largest licensed digital-asset exchanges. A wallet breach in 2021 has become a test of whether the platform accurately portrayed its financial position to regulators, extending the issue beyond cybersecurity to disclosure controls and corporate governance. The scrutiny is particularly significant as Bitkub’s parent weighs a possible public listing, which would subject the group’s compliance record, management oversight and transparency to closer investor review.

Thailand’s Securities and Exchange Commission filed a criminal complaint on July 23, 2026, against Bitkub Online and former directors Sakolkorn Sakavee and Thaweesap Rawan. The regulator said a May 2021 cyberattack stole 16 types of digital assets worth about 1.7 billion baht ($50 million), but daily net liquid capital reports from May 10 to Oct. 30 did not show the resulting shortfall. Bitkub denied fraudulent conduct, saying the assets had been replaced by Oct. 31, 2021; the complaint now goes to the Economic Crime Suppression Division for investigation.