🛡️ Bitkub Faces Criminal Charges from Thailand’s SEC: Revisiting the 2021 Hacking Incident Thailand’s SEC has formally filed criminal charges against Bitkub and two of its former directors, accusing them of misleading disclosures related to a 2021 cyberattack involving $50 million in assets. This amount represented a significant portion of Bitkub’s total assets under management at the time, though specific disclosure details remain undisclosed. The criminal charges indicate regulators believe the conduct crossed the line beyond administrative penalties, potentially involving intentional concealment or deception of investors. As Thailand’s largest crypto exchange, Bitkub could face license revocation or operational restrictions if convicted. This is not an isolated case. The Thai SEC has recently intensified scrutiny of multiple crypto platforms, including demands for proof-of-reserves disclosures. The Bitkub case may serve as a bellwether for tighter regulation, prompting other Southeast Asian exchanges to monitor rising compliance risks. What to watch next: Will Bitkub suspend withdrawals or trading? Will the Thai SEC expand its investigation? Are user funds secure? #OnChainData #Regulation #RiskAlert #ProjectWatch #HashiCompanyCheckup #Blockchain #CryptoMarket #CryptoCircle #Web3 #HashiCryptoNews #Bitkub #ThailandSEC #CryptoRegulation #Cybersecurity