Thailand’s SEC is cracking down on Bitkub, one of the nation’s top crypto exchanges, filing a criminal complaint over allegedly misleading disclosures about a 2021 cyberattack that stole $50 million. The regulator claims Bitkub hid the extent of the loss in reports between May and October 2021, making it seem like customer assets were safe. Bitkub denies wrongdoing, arguing it withheld details to prevent panic and fund recovery, and insists all stolen assets were replaced by October 2021 — with no losses to customers or the company. They’ve also enhanced security since then. With Bitkub’s parent company eyeing an IPO, the case is now heading to investigation and court, drawing intense scrutiny over crypto transparency.
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