Thailand SEC Files Criminal Complaint Against Bitkub Over 2021 Cyberattack Disclosures The Thailand Securities and Exchange Commission (SEC) has filed a criminal complaint against cryptocurrency exchange Bitkub and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, over alleged misreporting following a 2021 cyberattack. The complaint, submitted on 23 July 2026, centers on Bitkub’s net capital reports between 10 May and 30 October 2021, which the SEC claims failed to accurately reflect the impact of the breach on the company’s digital asset holdings. The regulator alleges that the reports omitted details of the theft, creating a false impression that customer assets remained unaffected. The case has been referred to Thailand’s Economic Crime Suppression Division for further investigation, with potential progression to prosecutors and courts. The SEC emphasized that the complaint does not constitute a final determination of guilt. Bitkub has denied fraud allegations, stating that all customer assets remain secure and fully accounted for. The company attributed the reporting decisions to an internal effort to prevent a "bank run" mass withdrawals that could have destabilized the exchange while it worked to replace stolen funds. Bitkub acknowledged that a wallet was compromised in early May 2021, but the breach was not disclosed at the time. To mitigate losses, Bitkub’s co-founders voluntarily absorbed the financial impact by purchasing equivalent digital assets to replace those stolen. The company confirmed that neither customers nor the business suffered financial harm as a result. Bitkub also cited a 2025 SEC inspection, which verified that all customer assets were intact as of 8 September 2025. The exchange maintained that the complaint pertains to historical reporting practices and does not reflect current security or asset management concerns. The legal process remains ongoing, with no final resolution yet reached.