Thai SEC Charges Bitkub and Two Former Directors Over Alleged Cover-Up of Nearly $50M Hack
Thailand's securities regulator filed a criminal complaint on Thursday against Bitkub Online, the country's largest crypto exchange, along with two of its co-founders, alleging the company concealed a cyberattack that wiped out roughly 1.7 billion baht (approximately $48 to $50 million USD at period exchange rates) in digital assets belonging to its customers back in May 2021. The Securities and Exchange Commission named Sakolkorn Sakavee, a co-founder and former chairman, and Thaweesap Rawan, a co-founder and former director, as individual defendants alongside the company.
Read full article →