Thailand’s Securities and Exchange Commission (SEC) alleged that cryptocurrency exchange Bitkub and two former directors concealed a cyberattack that led to the theft of around 1.7 billion baht ($50 million), according to reports in local media on Thursday.
The SEC filed a criminal complaint against Bitkub with the Economic Crime Suppression Division (ECD), accusing the exchange of providing false information and alleging that former directors Sakolkorn Sakavee and Thaweesap Rawan made false statements in company documents to deceive the regulator, the reports said.
Bitkub was the victim of a cyberattack in May 2021, and 16 different digital assets were subsequently stolen, according to SEC’s investigation.
The SEC and Bitkub made good the losses by the end of October that year. The regulator said it discovered Bitkub did not disclose the incident accurately in relevant reports from that period.
The SEC’s case will now proceed to…
