Thai SEC complaint against Bitkub remains under inquiry

The case stems from how the 2021 cyberattack was reported

The SEC says Bitkub suffered a cyberattack in May 2021 in which customer digital assets across 16 cryptocurrencies were withdrawn from the exchange, with an approximate value of 1.7 billion baht. According to the regulator, Bitkub later procured digital assets to replace the stolen assets from 31 October 2021 onward.

The July 2026 complaint focuses on the company’s daily net-capital reporting rather than on the cyberattack itself. The SEC alleges that Bitkub’s Form DA 1 reports from 10 May through 30 October 2021 did not reflect a material change in the company’s asset balance resulting from the incident.

The complaint was filed with Thailand’s Economic Crime Suppression Division against Bitkub Online Co., Ltd. and former directors Sakolkorn Sakavee and Thaweesap Rawan. The SEC alleges false statements by the company and also alleges that the former directors made false entries in company documents. Those are allegations being pursued through the criminal-enforcement process; they are not a final judicial determination.

For practical context, see Thailand economy and finance. This development also connects with Thai SEC complaint targets Finansia over KYC/CDD controls.

A criminal complaint is only one stage of the process

In its 23 July announcement, the SEC set out the expected sequence after filing: inquiry by an investigating officer, possible prosecution by the public prosecutor, and adjudication by a court. The regulator’s enforcement records, checked on 20 September 2026, still described the Bitkub entries as being in the process of inquiry by the inquiry official.

That status matters for anyone reading the headline months after the original filing. The SEC has taken a formal enforcement step, but the public record cited here does not show a completed criminal judgment in this matter. Conclusions about liability therefore remain premature unless a later authoritative decision changes the case status.

Bitkub remains listed as a licensed operator

The complaint also should not be taken as an automatic suspension of Bitkub’s business. On 20 September, the SEC’s licensing directory continued to list Bitkub Online among licensed digital-asset operators, including as a licensed digital-asset exchange.

For users, the practical distinction is between an enforcement case concerning historical reporting, the platform’s present licensing position, and any later action that could affect service availability. The July complaint is relevant to regulatory and governance risk, but it does not by itself establish that Bitkub is unlicensed, that customer accounts have been frozen, or that the platform has been ordered to stop operating.