Thailand’s Securities and Change Fee (SEC) alleged that cryptocurrency trade Bitkub and two former administrators hid a cyberattack that led to the theft of round 1.7 billion baht ($50 million), in line with reviews in native media on Thursday.
The SEC filed a legal criticism towards Bitkub with the Financial Crime Suppression Division (ECD), accusing the trade of offering false data and alleging that former administrators Sakolkorn Sakavee and Thaweesap Rawan made false statements in firm paperwork to deceive the regulator, the reviews stated.
Bitkub was the sufferer of a cyberattack in Might 2021, and 16 totally different digital property had been subsequently stolen, in line with SEC’s investigation.
The SEC and Bitkub made good the losses by the top of October that yr. The regulator stated it found Bitkub didn’t disclose the incident precisely in related reviews from that interval.
The SEC’s case will now proceed to a police investigation adopted by attainable public prosecution, the reviews stated.
Bitkub is Thailand’s greatest crypto trade, with 24-hour buying and selling quantity of greater than $500 million. It didn’t instantly reply to CoinDesk’s request for remark.