POPA ReconThai SEC Accuses Bitkub of Hiding a $47M Hack
Thai SEC Accuses Bitkub of Hiding a $47M Hack Thailand's SEC has filed a criminal complaint against Bitkub — the country's largest crypto exchange — and two former directors, alleging they concealed a 2021 hack from the regulator. About $47M (1.7 billion baht) across 16 assets was drained from a Bitkub wallet in May 2021. From May to October that year, the exchange's daily filings to the SEC allegedly showed no change in holdings, masking the loss. Bitkub says it deliberately withheld the breach to avoid triggering a bank run, not to defraud anyone. Its co-founders personally bought replace…
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