Thailand SEC Files Criminal Complaint Against Bitkub and Two Former Directors Over 2021 False Reporting Case
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Thailand SEC Files Criminal Complaint Against Bitkub and Two Former Directors Over 2021 False Reporting Case
According to The Nation Thailand, the Thai Securities and Exchange Commission has filed a criminal complaint with the Economic Crime Suppression Division against digital asset exchange Bitkub and its two former directors, alleging false statements in daily net capital reports submitted after the 2021 hacking incident. The incident resulted in the theft of approximately 1.7 billion baht worth of digital assets. The regulator believes that Bitkub failed to accurately reflect asset losses and related changes during the period from May to October 2021.
Navigating Web3 tides with focused insightsTechFlow reports, on July 24, according to The Nation Thailand, the Securities and Exchange Commission of Thailand has filed a criminal complaint with the Economic Crime Suppression Division against digital asset exchange Bitkub and its two former directors, alleging false statements in submitted daily net capital reports following the 2021 hacking incident. The incident resulted in the theft of approximately 1.7 billion baht worth of digital assets. The regulator believes that Bitkub failed to accurately reflect asset losses and related changes between May and October 2021.
Bitkub responded that the relevant matters only involved information disclosure handling from that year, current customer assets are safe and intact, stolen assets have been compensated by relevant parties, and the incident did not cause actual losses to customers. The company also stated it will continue to cooperate with subsequent legal proceedings.
