Thailand's Securities and Exchange Commission has filed a criminal complaint against crypto exchange Bitkub and two of its former directors, alleging they submitted false reports to the regulator after a 2021 hack.
The two former directors, Sakolkorn Sakavee and Thaweesap Rawan, are accused of making false entries to mislead the regulator into believing customer assets were intact. The case now passes to police and prosecutors, who will decide whether to bring it to court.
Bitkub said the matter concerns a five-year-old reporting decision and that customer funds are safe. Those responsible chose not to disclose the wallet theft to avoid triggering a bank run, the company said, and its co-founders bought replacement assets in the same amounts, leaving neither Bitkub nor its customers out of pocket. The SEC had confirmed its holdings were intact as of September 2025, it added.
