SEC files charges against Bitkub and two former executives

MGR Online•Economy•8d ago

Reader Briefing

The SEC has submitted new evidence to the ECD to prosecute Bitkub Online Co., Ltd. and two former directors for falsifying financial reports after a digital asset theft.

•The SEC reported Bitkub Online Co., Ltd. and two former directors for filing false reports.
•Approximately 1.7 billion baht in 16 types of digital assets were stolen from Bitkub in May 2021.
•Sakonkorn Sarakwee and Thaweesap Rawarn are the accused former directors.
•Jirayut Srupsrisopa is not among the accused in the current case file.

Overview

•In May 2021, Bitkub became a victim of a major digital asset theft involving 16 currencies valued at approximately 1.7 billion baht.
•From May 10 to October 30, 2021, Bitkub failed to report the loss in the daily net liquidity fund report (Form DJ.1).
•The SEC alleges the reported figures were static as if no incident occurred, which constitutes providing false information under Section 76 of the Digital Asset Businesses Emergency Decree 2018.
•The SEC accused Bitkub Online Co., Ltd., Sakonkorn Sarakwee, and Thaweesap Rawarn of jointly committing the offense.
•Sakonkorn Sarakwee and Thaweesap Rawarn were directors responsible for submitting the DJ.1 reports and allegedly intended to deceive the SEC into believing customer assets were safe.
•Jirayut Srupsrisopa, the major shareholder and leader of the Bitkub group, is not listed as an accused party in the case file.
•The Economic Crime Suppression Division (ECD) is currently investigating the case to prove the facts and liability of the accused.
•The accused maintain the legal right to defend themselves until a final court judgment is reached.

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Key Entities

Organization

Securities and Exchange Commission(สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์)ℹ️

The regulatory body that filed the charges and provided evidence regarding the digital asset theft reporting.

Economic Crime Suppression Division(บก.ปอศ.)

The police division responsible for investigating the case and receiving evidence from the SEC.

Bitkub Online Co., Ltd.(บริษัท บิทคับ ออนไลน์ จำกัด)ℹ️

A digital asset exchange that suffered a theft and is accused of filing false reports.

Person

Sakonkorn Sarakwee(สกลกรย์ สระกวี)

A former director of Bitkub responsible for submitting the DJ.1 reports and one of the accused.

Thaweesap Rawarn(ทวีทรัพย์ ราวรรณ์)

A former director of Bitkub responsible for submitting the DJ.1 reports and one of the accused.

Jirayut Srupsrisopa(จิรายุส ทรัพย์ศรีโสภา)ℹ️

The major shareholder and leader of the Bitkub group who is not named in the accused list.

Winyu Jamsai(วิญญู แจ่มใส)

Superintendent of Subdivision 3, Economic Crime Suppression Division.

Warut Sermsujarit(วรัท เสริมสุจริต)

Inquiry Officer of Subdivision 3, Economic Crime Suppression Division.

Law

Digital Asset Businesses Emergency Decree 2018(พระราชกำหนดการประกอบธุรกิจสินทรัพย์ดิจิทัล พ.ศ. 2561)

The law under which Bitkub and its former directors are accused of violations, specifically Sections 76, 88, and 94.