SEC pursues Bitkub for concealing 1.7 billion baht hack

Thansettakij•Economy•8d ago

Reader Briefing

The SEC has submitted evidence to the ECD to prosecute Bitkub Online and two former directors for concealing a 1.7 billion baht digital asset theft.

•The SEC is taking legal action against Bitkub Online and two former directors.
•The case involves the concealment of a digital asset theft valued at approximately 1.7 billion baht occurring in 2021.
•The accused are alleged to have entered false information in daily net liquidity fund reports to suggest customer assets were intact.
•The SEC has submitted evidence to the Economic Crime Suppression Division (ECD).

•Bitkub Online experienced a digital asset theft valued at approximately 1.7 billion baht in 2021.
•The SEC submitted evidence to the ECD to prosecute Bitkub Online and two former directors.
•Between May 10 and October 30, 2021, Bitkub Online did not record the theft in the daily net liquidity fund report (Form DJ.1).
•The SEC found that Bitkub Online entered false information in documents submitted to the regulatory agency to make it appear customer assets were complete.
•Sakonkorn Sarakawi and Thaweesap Rawarn, who were directors responsible for submitting Form DJ.1 during the incident, are being held jointly liable.
•The SEC cited violations of Section 76 and Section 88 (2) of the Emergency Decree on Digital Asset Businesses 2018.
•The SEC has formally accused three related parties to allow investigators to proceed with legal steps.

Full article content is available on the original source.

SEC(ก.ล.ต.)

The regulatory body that submitted evidence and accused Bitkub Online and its former directors of misconduct.

ECD(บก.ปอศ.)

The Economic Crime Suppression Division that received evidence from the SEC.

Bitkub Online(บิทคับ ออนไลน์)ℹ️

A company accused by the SEC of concealing a 1.7 billion baht asset theft and reporting false information.

Sakonkorn Sarakawi(สกลกรย์ สระกวี)

A former director of Bitkub Online responsible for submitting the DJ.1 report.

Thaweesap Rawarn(ทวีทรัพย์ ราวรรณ์)

A former director of Bitkub Online responsible for submitting the DJ.1 report.

Emergency Decree on Digital Asset Businesses(พ.ร.ก.สินทรัพย์ดิจิทัล)

The law under which Bitkub Online and its directors are being prosecuted, specifically sections 76, 88 (2), and 94.