bitkub

The Securities and Exchange Commission (SEC) of Thailand has filed a criminal complaint against the cryptocurrency exchange Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, accusing them of submitting false financial reports between May and October 2021. The case has been handed over to the Economic Crime Suppression Division (ECD) of Thailand for investigation, and the prosecution will decide whether to formally charge them.The SEC stated that Bitkub suffered a cyber attack in May 2021, resulting in the theft of 16 types of digital assets, with losses exceeding $50 million. Regulatory investigations revealed that Bitkub did not reflect the relevant losses in its daily net capital report Form DA 1 from May 10 to October 30, 2021. The SEC alleged that the relevant executives made false statements in the company's official documents, leading regulators to believe that customer assets were intact and that the company had not suffered financial losses. Bitkub subsequently completed the acquisition of alternative assets in late October 2021, but the SEC believes that the reports during this period constituted false statements.In a statement on July 23, Bitkub asserted that existing customer holdings are secure and accounts are complete. Bitkub stated that its co-founders purchased alternative assets in the same quantity and currency to cover the losses and claimed that the cyber theft incident was reported to law enforcement on May 10, 2021.

According to Cointelegraph, the Securities and Exchange Commission (SEC) of Thailand has filed a criminal complaint against the digital asset exchange Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, accusing them of involvement in false reports related to a cyber attack in 2021.The SEC stated that a cyber attack in May 2021 resulted in the theft of 16 digital assets from Bitkub, valued at approximately 1.7 billion Thai Baht, or about 50 million USD. The regulatory agency claimed that Bitkub subsequently replenished the stolen assets before October 31, 2021, but the daily net capital flow reports submitted from May 10 to October 30, 2021, did not accurately reflect the reduction in assets.Bitkub stated on the X platform that the case stems from disclosure decisions made after the cyber attack in May 2021 and is not an act of fraud. The exchange claimed that the delay in disclosing the compromised wallet was to avoid a bank run, and the co-founder subsequently purchased an equivalent amount of digital assets to cover the stolen funds, with no financial losses incurred by the company or its clients. Bitkub was established in 2018 and is one of Thailand's major cryptocurrency exchanges. Bitkub's parent company is considering a potential initial public offering, including the possibility of listing in Hong Kong.

Web3 asset data platform RootData issued a daily transparency alert on Twitter (X), noting the lack of information on teams, key calendar events, token data, and more for centralized exchanges such as Korbit, Bitkub, Luno, VALR, and bitFlyer. It calls on project parties to submit/update information on RootData to enhance their transparency scores. Additionally, RootData stated that it will continue to monitor and expose "black box" projects that lack core information.It is reported that the RootData transparency score is used to measure the integrity and timeliness of projects, aiming to reflect the information disclosure situation of the projects. The transparency score is divided into 5 levels from A to F, with lower scores indicating less complete information disclosure and higher risks of wrongdoing, requiring investors to be highly vigilant.

According to official news, the two core DeFi projects of the TRON ecosystem, the governance token JST of the JUST platform and the native token SUN of the SUN.io platform, have officially launched on Thailand's leading exchange Bitkub, fully opening deposit, withdrawal, and trading services. Leveraging Bitkub's strong influence in the Southeast Asian market, JST and SUN will accurately reach the rapidly growing user base in the region, further unleashing the market potential and value vitality of the TRON ecosystem.

According to Arkham data, at 22:19, 3000 ETH (worth approximately $8.7868 million) was transferred from Bitkub to an anonymous address (starting with 0x42a0...).

According to monitoring by The Data Nerd, a whale deposited 2,000 ETH into Bitkub, worth 5.88 million dollars. In the past week, this whale has deposited 9,700 ETH into CEX, worth approximately 28.85 million dollars.

According to Techinasia, Tencent Cloud has formed a strategic partnership with Thailand's blockchain and digital asset company Bitkub Group. Bitkub operates a large digital asset exchange in the country. Under the cooperation agreement, Bitkub will leverage Tencent Cloud's infrastructure, database, and artificial intelligence technology to support its digital asset services.After evaluating factors such as security standards, technical support, and cost-effectiveness, Bitkub chose Tencent Cloud as its partner. Both parties plan to collaborate using Tencent Cloud's services in areas such as database management, risk control, and application stability.

According to Arkham data, at 19:16, 1,000 BTC (worth approximately $90.53 million) was transferred from an anonymous address (starting with 1VHhZ3vZ...) to Bitkub. Subsequently, the address transferred some BTC to Bitkub.

According to Arkham data, at 23:18, 1,039.999 BTC (worth approximately $93.61 million) was transferred from Coinbase Prime Custody to an anonymous address (starting with bc1q5wdmd4upnq3jlh7fda3vavjzlt0wv253wa53fh).Subsequently, the address transferred 200 BTC to Bitkub.

According to Arkham data, between 17:02 and 17:08, Bitkub received two large BNB transfers, totaling 5100.02 BNB (worth approximately 4.229 million USD), both from anonymous addresses.At 17:02, 2550.01 BNB (worth approximately 2.115 million USD) was transferred from an anonymous address (starting with 0x4785...) to Bitkub.At 17:08, 2550.01 BNB (worth approximately 2.114 million USD) was transferred from an anonymous address (starting with 0x944C...) to Bitkub.

According to Arkham data, at 16:44, 2550.01 BNB (worth approximately 2.11 million USD) was transferred from an anonymous address (starting with 0xcF30...) to Bitkub.

Market News: Thailand's Cryptocurrency Exchange Bitkub is Considering an IPO in Hong KongBitkub may launch its IPO in Hong Kong as early as next year to raise approximately $200 million. (Jin Shi)

According to Arkham data, at 02:44, 2451.03 BNB (worth approximately 2.14 million USD) was transferred from Bitkub to an anonymous address (starting with 0x102F...).

ChainCatcher news, Tether announced on platform X that USDT on the TON chain has been launched on Bitkub.

ChainCatcher news, according to CoinDesk, Bitkub Capital Group CEO Jirayut Srupsrisopa stated that the owner of Thailand's cryptocurrency exchange Bitkub Online plans to sell shares to the public next year, with a possible valuation of up to $3 billion.Bitkub Capital expressed its intention to sell shares to the public in a letter to shareholders in 2023, but did not provide a specific timeline. Earlier this month, Jirayut mentioned that the plan is to conduct an IPO next year, and the company is hiring financial advisors.Thailand's largest cryptocurrency exchange provides about 80% of profits for its Bangkok-based parent company, which is 9.2% owned by Asphere Innovations. Jirayut stated that the company was valued at approximately 6 billion Thai Baht ($165 million) during its Series A funding round last July.In a message on LinkedIn, when asked about the IPO valuation, Jirayut said, "A valuation with a price-to-earnings ratio of 10-30 would place our valuation between $1 billion and $3 billion." He did not disclose how much money the company plans to raise.

ChainCatcher news, according to Bloomberg, the CEO of Bitkub Capital Group Holdings, the owner of Thailand's largest cryptocurrency exchange, Jirayut Srupsrisopa, stated in an interview on Monday that the company plans to conduct an IPO in 2025. Bitkub plans to list on the Stock Exchange of Thailand and is hiring financial advisors for the listing.

ChainCatcher news, Thailand's digital asset trading platform Bitkub Exchange and its educational branch Bitkub Academy announced a strategic partnership with WOO, aiming to promote blockchain and Web 3.0 education in Thailand.The collaboration includes the development of bitkubacademy.com, which will serve as a key platform to enhance user experience in the field of blockchain technology. The platform will also provide free access to jointly developed educational content to meet the needs of different audiences.It is reported that WOO is the operator of the globally renowned crypto exchange WOO X, founded by former Wall Street traders.

ChainCatcher news, according to Tech in Asia, regulatory documents show that Thailand-based cryptocurrency exchange Bitkub has agreed to sell a 9.22% stake in the company to local game publisher Asphere Innovations for $17.8 million. This round of financing will be used to expand digital asset services in Thailand. (Source link)