Thai SEC Alleges Bitkub Concealed $50 Million Hack Due to Cyberattack

The Thai Securities and Exchange Commission (SEC) has accused Bitkub, a major cryptocurrency exchange in Thailand, of concealing a cyberattack that led to a $50 million hack.

The SEC claims that Bitkub failed to disclose the breach in a timely manner, which allowed the attackers to escape detection.

The alleged cover-up is a serious offense under Thai law and could result in severe penalties for Bitkub and its executives.