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Thailand SEC files criminal complaint against Bitkub over 2021 hack reports

Thailand SEC files criminal complaint against Bitkub over 2021 hack reports

The regulator alleges Bitkub and two former directors submitted false financial reports after a May 2021 hack tied to losses of more than $50 million across 16 digital assets.

Fact Check
The official Thai SEC news release (No. 158/2026) directly confirms all core elements: a criminal complaint against Bitkub and former directors, a May 2021 hack of ~1.7 billion baht across 16 cryptocurrencies, and daily net capital reports (Form DA 1) from 10 May to 30 October 2021 that concealed the theft. Bangkok Post independently corroborates the same facts and the ~$51M/1.7bn baht figure, and CoinDesk reports the same. The 'avoid a bank run' defense attributed to Bitkub is confirmed by multiple reports (Bangkok Post follow-up and others). The only minor nuance is that the complaint was filed in July 2026 over a hack that occurred in 2021; the claim's 'daily capital filings from May to October 2021' matches the SEC's stated 10 May–30 Oct 2021 window precisely.
Summary

Thailand's Securities and Exchange Commission has filed a criminal complaint against crypto exchange Bitkub Online and former directors Sakolkorn Sakavee and Thaweesap Rawan, alleging they submitted false financial reports from May to October 2021 after a hack stole 16 digital assets worth more than $50 million. The regulator referred the case to the Economic Crime Suppression Division for investigation, adding to scrutiny over how the exchange disclosed the impact of the 2021 cyberattack. Bitkub said on July 23 that customer holdings remain safe and that a co-founder bought replacement assets to absorb the loss.

Terms & Concepts
  • cyberattack: A malicious digital intrusion aimed at stealing data, funds, or disrupting systems.