Thailand SEC files complaint against Bitkub over alleged false disclosures

Thailand’s crypto industry is facing fresh regulatory scrutiny after authorities accused Bitkub, one of the country’s largest digital asset exchanges, of providing false information to regulators.Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against Bitkub Online and two former directors over alleged false reporting connected to a 2021 cyberattack, the regulator announced on Thursday.The complaint names former Bitkub directors Sakolkorn Sakavee and Thaweesap Rawan, who the SEC said were responsible for submitting company reports during the period under investigation.The case comes as Bitkub’s parent company considers a potential public listing, putting renewed attention on transparency and governance at one of Thailand’s most prominent crypto businesses.SEC alleges Bitkub failed to disclose impact of hackThe SEC said a cyberattack in May 2021 resulted in the theft of 16 types of digital assets from Bitkub, worth about 1.7 billion baht ($50 million).The regulator alleged that Bitkub later replaced the stolen assets by Oct. 31, 2021, but failed to accurately reflect the impact of the incident in its daily net liquid capital reports.According to the SE...