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.
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Summary
- 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.
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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.
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.
