Thai crypto exchange Bitkub is accused by Thailand’s SEC of concealing the theft of 1.7 billion baht (approximately $53 million) that occurred in May 2021 in its daily capital reports. The two former directors Sakolkorn Sakavee and Thaweesap Rawan face criminal complaints for false reporting and false entries in company documents. Bitkub acknowledges it hid the theft to prevent a bank run while replacing the stolen assets with its own funds. The allegations remain unadjudicated: an inquiry official will now decide whether to recommend prosecution before the public prosecutor takes up the case.
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