Thailand's SEC alleges Bitkub concealed cyberattack that led to $50 million hack

Policy Thailand's SEC alleges Bitkub concealed cyberattack that led to $50 million hack Bitkub was the victim of a cyberattack in May 2021, which led to hacks stealing 1.7 billion baht across 16 different digital assets. By Jamie Crawley | Edited by Sheldon Reback Jul 27, 2026, 1:32 p.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Bangkok, Thailand (Walkerssk/Pixabay) Summary Show Thailand’s SEC alleged that cryptocurrency exchange Bitkub and two of its former directors concealed a cyberattack that led to the theft of around 1.7 billion baht ($50 million) in May 2021. The SEC alleged that Sakolkorn Sakavee and Thaweesap Rawan made false statements in company documents to deceive the regulator. While the SEC and Bitkub made good the losses by the end of October that year, the regulator said it discovered that Bitkub did not disclose the incident accurately in relevant reports from that period. Thailand’s Securities and Exchange Commission (SEC) alleged that cryptocurrency exchange Bitkub and two former directors concealed a cyberattack that led to the theft of around 1.7 billion baht ($50 million), according to reports in local media on Thursday . The SEC filed a criminal complaint against Bitkub with the Economic Crime Suppression Division (ECD), accusing the exchange of providing false information and alleging that former directors Sakolkorn Sakavee and Thaweesap Rawan made false statements in company documents to deceive the regulator, the reports said. Bitkub was the victim of a cyberattack in May 2021, and 16 different digital assets were subsequently stolen, according to SEC’s investigation. The SEC and Bitkub made good the losses by the end of October that year. The regulator said it discovered Bitkub did not disclose the incident accurately in relevant reports from that period. The SEC’s case will now proceed to a police investigation followed by possible public prosecution, the reports said. Bitkub is Thailand’s biggest crypto exchange , with 24-hour trading volume of more than $500 million. It did not immediately respond to CoinDesk’s request for comment. Hack Latest Crypto News 1 Nvidia forms 37-member AI security alliance without OpenAI, Anthropic or Google 6 minutes ago 2 Securitize builds Wall Street credentials with SEC adviser license as tokenization expands 32 minutes ago 3 Crypto is rewriting how Wall Street traders spend their weekends 32 minutes ago 4 Bitmine buys more ether as Tom Lee says rising ETH/BTC ratio points to stronger crypto prices 36 minutes ago 5 Circle buys nearly 1,000 blockchain patents from IBM 45 minutes ago 6 Michael Saylor's Strategy boosted cash reserve to $3.75 billion, repurchased $25 million of STRC 1 hour ago 7 Bitcoin options traders are dropping their hedges going into the Fed meeting 1 hour ago 8 Ballooning U.S. debt sends investors to bitcoin, gold to shelter from dollar devaluation 2 hours ago 9 Bitcoin ETFs post third straight weekly inflows despite $465 million in late-week losses 2 hours ago 10 Coinbase CEO Brian Armstrong criticizes crypto startups that rebrand to AI 2 hours ago Latest Research Crypto Flows, Share and the Selective Rotation Crypto Flows, Share and the Selective Rotation Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows. By CoinDesk Research Jul 22, 2026 Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows. Why it matters : Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows. View Full Report More From Policy 2 weeks left for Clarity: State of Crypto U.S. regulator warns prediction markets against cutting corners in event contracts Europe's high regulatory bar could spark new crypto industry M&A wave