Thailand’s SEC is launching a major crackdown on Bitkub, the nation’s top crypto exchange, accusing it and two former directors of covering up a $50 million cyberattack from May 2021. Despite recovering the stolen funds by October 2021, regulators say Bitkub falsified reports to hide the breach. With daily trading volume exceeding $500 million, this alleged cover-up threatens market trust and could set a dangerous precedent for crypto accountability. A criminal complaint has been filed, triggering a police investigation that may lead to prosecution.
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