Bitkub Accused of Hiding $53M in Stolen Crypto Assets

A Thailand-based cryptocurrency exchange called Bitkub Online has been accused of hiding $53 million in stolen assets from its daily reports to prevent a bank run. The allegations were made by the country's Securities and Exchange Commission (SEC) in a criminal complaint filed on July 23, 2026.

The SEC claims that Bitkub failed to disclose the theft in its Form DA 1 reports between May 10 and October 30, 2021. During this time, customer assets worth approximately $53 million were withdrawn from the exchange due to a cyberattack in May 2021.

Bitkub's response to the complaint states that the decision not to reveal the stolen assets was made to prevent a bank run while the company tried to replace the missing funds. The exchange claims that its co-founders absorbed the loss by buying the same currencies in the same quantities, stating that neither the company nor its customers suffered asset losses from the incident.

The SEC's allegations are separate from the question of whether Bitkub properly disclosed the replacement process for the stolen assets. An inquiry official will now investigate and decide whether to recommend prosecution, which would then be considered by a public prosecutor before being brought to court.