{"id":18672,"date":"2026-07-24T13:55:04","date_gmt":"2026-07-24T13:55:04","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=18672"},"modified":"2026-07-24T13:55:04","modified_gmt":"2026-07-24T13:55:04","slug":"thailand-sec-files-criminal-complaint-against-bitkub-over-alleged-false-disclosures","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/thailand-sec-files-criminal-complaint-against-bitkub-over-alleged-false-disclosures\/","title":{"rendered":"Thailand SEC Files Criminal Complaint Against Bitkub Over Alleged False Disclosures"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Thailand&#8217;s Securities and Exchange Commission has filed a criminal complaint against cryptocurrency exchange Bitkub Online Co., Ltd. and two of its former directors, alleging they submitted false statements and misleading corporate documents related to a major cyberattack that occurred in 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The complaint, filed with the Economic Crime Suppression Division, marks the latest enforcement action tied to one of Thailand&#8217;s largest cryptocurrency security incidents. Authorities allege the company failed to accurately disclose the financial impact of the attack in regulatory filings, while the former executives allegedly approved or submitted misleading information to regulators.<\/p>\n\n\n\n<h3 id=\"h-allegations-linked-to-2021-cyberattack\" class=\"wp-block-heading\">Allegations Linked to 2021 Cyberattack<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">According to the SEC, Bitkub suffered a cyberattack in May 2021 that resulted in the theft of digital assets across 16 cryptocurrencies with an estimated value of about 1.7 billion baht. Regulators claim the exchange continued filing daily net capital reports between May 10 and October 30, 2021, without reflecting the material reduction in assets caused by the theft.<\/p>\n\n\n\n<h3 id=\"h-the-sec-alleges-that\" class=\"wp-block-heading\">The SEC alleges that:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bitkub submitted false statements in its required regulatory reports.<\/li>\n\n\n\n<li>Two former directors were responsible for filing the reports during the relevant period.<\/li>\n\n\n\n<li>The former executives also made false entries in company documents intended to mislead regulators into believing customer assets remained unaffected and no damage had occurred.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The regulator said these actions may violate provisions of Thailand&#8217;s Emergency Decree on Digital Asset Businesses, prompting the criminal complaint and the launch of a formal investigation.<\/p>\n\n\n\n<h3 id=\"h-bitkub-responds\" class=\"wp-block-heading\">Bitkub Responds<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Following the SEC&#8217;s announcement, Bitkub stated that the case relates solely to reporting practices surrounding events that occurred between May and October 2021. The company emphasized that customer assets currently held on the platform remain safe and fully intact.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitkub also said the underlying incident was not the result of fraudulent conduct by the individuals named in the complaint. According to the exchange, the matter concerns historical disclosure decisions made after the cyberattack rather than the security of customer funds today.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The criminal complaint does not constitute a conviction. Under Thailand&#8217;s legal process, investigators will review the allegations before prosecutors determine whether to pursue formal charges, with any final ruling resting with the courts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thailand&#8217;s Securities and Exchange Commission has filed a criminal complaint against cryptocurrency exchange Bitkub Online Co., Ltd. and two of its former directors, alleging they submitted false statements and misleading corporate documents related to a major cyberattack that occurred in 2021. The complaint, filed with the Economic Crime Suppression Division, marks the latest enforcement action [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":5785,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,43],"tags":[],"class_list":["post-18672","post","type-post","status-publish","format-standard","has-post-thumbnail","category-featured","category-general-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Thailand SEC Files Criminal Complaint Against Bitkub Over Alleged False Disclosures<\/title>\n<meta name=\"description\" content=\"Thailand&#039;s Securities and Exchange Commission has filed a criminal complaint against cryptocurrency exchange Bitkub Online Co., Ltd. and two of its former\" \/>\n<meta name=\"robots\" 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class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/thailand-sec-files-criminal-complaint-against-bitkub-over-alleged-false-disclosures\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/thailand-sec-files-criminal-complaint-against-bitkub-over-alleged-false-disclosures\\\/\"},\"author\":{\"name\":\"Raj Sharma\",\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/#\\\/schema\\\/person\\\/bbfe4a2efa58e681b4208612112f3149\"},\"headline\":\"Thailand SEC Files Criminal Complaint Against Bitkub Over Alleged False 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This strategic move is set to enhance the company\u2019s market presence and potentially value the exchange at approximately 6 billion baht ($165 million). The announcement was made by Jirayut Srupsrisopa, the CEO of Bitkub Capital Group, the parent company of Bitkub Online, during an interview with Bloomberg. Riding the Wave of Cryptocurrency Demand Bitkub\u2019s journey towards an IPO coincides with a significant uptick in the demand for cryptocurrency trading accounts, driven by the remarkable performance of Bitcoin and the broader crypto market this year. Bitcoin\u2019s value surged by 57%, while the overall crypto market experienced a 49% increase, leading to the highest number of active accounts in Thailand since September 2022. This surge in interest underscores the growing appetite among investors and the public for digital currencies and the platforms that facilitate their trade. Overcoming Challenges and Facing Competition Despite the optimism surrounding its IPO, Bitkub navigates through a competitive landscape marked by the entry of Binance Thailand, a collaboration between the world\u2019s largest crypto exchange by trading volume and Gulf Innova. Additionally, Bitkub\u2019s plans have not been without hurdles. A notable setback occurred when a proposed acquisition by Siam Commercial Bank (SCB), Thailand\u2019s oldest lender, was halted by the Securities and Exchange Commission (SEC). Furthermore, Bitkub faced legal challenges in September 2022, when it was included in a lawsuit by the SEC for allegedly manipulating trading volumes. The company\u2019s resilience in overcoming these obstacles and its continued dominance in Thailand\u2019s crypto market, accounting for about 80% of its parent company\u2019s profit, underscores its potential for a successful IPO. With a significant ownership stake of 9.2% held by Asphere Innovations, Bitkub is well-positioned to navigate the complexities of the public market and capitalize on the burgeoning interest in cryptocurrency trading.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/thailand-sec-files-criminal-complaint-against-bitkub-over-alleged-false-disclosures\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Thailand SEC Files Criminal Complaint Against Bitkub Over Alleged False Disclosures\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/\",\"name\":\"CryptoMeter.io\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/#organization\"},\"alternateName\":\"CryptoMeter.io\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/#organization\",\"name\":\"CryptoMeter.io\",\"url\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/www.cryptometer.io\\\/news\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/cropped-favicon_large.png?fit=512%2C512&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.cryptometer.io\\\/news\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/cropped-favicon_large.png?fit=512%2C512&ssl=1\",\"width\":512,\"height\":512,\"caption\":\"CryptoMeter.io\"},\"image\":{\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/x.com\\\/CryptoMeterIO\"],\"publishingPrinciples\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/about-us\\\/\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/#\\\/schema\\\/person\\\/bbfe4a2efa58e681b4208612112f3149\",\"name\":\"Raj Sharma\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/cropped-2-96x96.png\",\"url\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/cropped-2-96x96.png\",\"contentUrl\":\"https:\\\/\\\/www.cryptometer.io\\\/news\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/cropped-2-96x96.png\",\"caption\":\"Raj Sharma\"},\"description\":\"I have been involved in the blockchain industry for over 5 years and have an extensive understanding of the technology. 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This strategic move is set to enhance the company\u2019s market presence and potentially value the exchange at approximately 6 billion baht ($165 million). The announcement was made by Jirayut Srupsrisopa, the CEO of Bitkub Capital Group, the parent company of Bitkub Online, during an interview with Bloomberg. Riding the Wave of Cryptocurrency Demand Bitkub\u2019s journey towards an IPO coincides with a significant uptick in the demand for cryptocurrency trading accounts, driven by the remarkable performance of Bitcoin and the broader crypto market this year. Bitcoin\u2019s value surged by 57%, while the overall crypto market experienced a 49% increase, leading to the highest number of active accounts in Thailand since September 2022. This surge in interest underscores the growing appetite among investors and the public for digital currencies and the platforms that facilitate their trade. Overcoming Challenges and Facing Competition Despite the optimism surrounding its IPO, Bitkub navigates through a competitive landscape marked by the entry of Binance Thailand, a collaboration between the world\u2019s largest crypto exchange by trading volume and Gulf Innova. Additionally, Bitkub\u2019s plans have not been without hurdles. A notable setback occurred when a proposed acquisition by Siam Commercial Bank (SCB), Thailand\u2019s oldest lender, was halted by the Securities and Exchange Commission (SEC). Furthermore, Bitkub faced legal challenges in September 2022, when it was included in a lawsuit by the SEC for allegedly manipulating trading volumes. The company\u2019s resilience in overcoming these obstacles and its continued dominance in Thailand\u2019s crypto market, accounting for about 80% of its parent company\u2019s profit, underscores its potential for a successful IPO. With a significant ownership stake of 9.2% held by Asphere Innovations, Bitkub is well-positioned to navigate the complexities of the public market and capitalize on the burgeoning interest in cryptocurrency trading."},{"@type":"BreadcrumbList","@id":"https:\/\/www.cryptometer.io\/news\/thailand-sec-files-criminal-complaint-against-bitkub-over-alleged-false-disclosures\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.cryptometer.io\/news\/"},{"@type":"ListItem","position":2,"name":"Thailand SEC Files Criminal Complaint Against Bitkub Over Alleged False Disclosures"}]},{"@type":"WebSite","@id":"https:\/\/www.cryptometer.io\/news\/#website","url":"https:\/\/www.cryptometer.io\/news\/","name":"CryptoMeter.io","description":"","publisher":{"@id":"https:\/\/www.cryptometer.io\/news\/#organization"},"alternateName":"CryptoMeter.io","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cryptometer.io\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.cryptometer.io\/news\/#organization","name":"CryptoMeter.io","url":"https:\/\/www.cryptometer.io\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cryptometer.io\/news\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/cropped-favicon_large.png?fit=512%2C512&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.cryptometer.io\/news\/wp-content\/uploads\/2023\/01\/cropped-favicon_large.png?fit=512%2C512&ssl=1","width":512,"height":512,"caption":"CryptoMeter.io"},"image":{"@id":"https:\/\/www.cryptometer.io\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/CryptoMeterIO"],"publishingPrinciples":"https:\/\/www.cryptometer.io\/news\/about-us\/"},{"@type":"Person","@id":"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/bbfe4a2efa58e681b4208612112f3149","name":"Raj Sharma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-2-96x96.png","url":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-2-96x96.png","contentUrl":"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/04\/cropped-2-96x96.png","caption":"Raj Sharma"},"description":"I have been involved in the blockchain industry for over 5 years and have an extensive understanding of the technology. 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