Thai SEC files complaint against Bitkub for false filings

Thailand’s Securities and Exchange Commission has filed a criminal complaint against cryptocurrency exchange Bitkub Online and two of its former directors, alleging they submitted false financial reports to regulators following a major cyberattack in 2021. The complaint, filed on July 23, 2026, accuses the company of failing to accurately reflect the impact of the hack in its daily regulatory filings for over five months.

The case centers on a security breach in early May 2021, when cybercriminals stole 16 types of digital assets from Bitkub, with an estimated value of 1.7 billion baht, or roughly $48 million to $50 million. According to the SEC, Bitkub filed daily net liquid capital reports between May 10 and October 30, 2021, that did not show the significant reduction in assets caused by the theft, presenting an inaccurate picture of the company’s financial position. The regulator alleges these actions violated Thailand’s Emergency Decree on Digital Asset Businesses.

The complaint names former directors Sakolkorn Sakavee and Thaweesap Rawan, holding them personally liable for approving or submitting the disputed filings. Authorities have referred the case to the Economic...