The alleged false reports
The SEC says Bitkub's Form J.1 reports from May 10 through October 30, 2021, showed no change in asset balance. That's the period right after the theft. The regulator argues that amounts to false reporting. The exchange didn't start procuring replacement digital assets until October 31, 2021, according to subsequent information. The complaint doesn't specify which cryptocurrencies were stolen, but the total was about 1.7 billion baht.
" Wait, original says "Form DA 1" not "Form J.1". The user wrote "Form DA 1" in the original content. I'll keep "Form DA 1". Also "procuring replacement digital assets" - "mendapatkan aset digital gantian". "subsequent information" - "maklumat seterusnya". "doesn't specify" - "tidak menyatakan". "total was about" - "jumlahnya kira-kira". Translation: "Laporan palsu yang didakwa
SEC menyatakan bahawa laporan Borang DA 1 Bitkub dari 10 Mei hingga 30 Oktober 2021 menunjukkan tiada perubahan dalam baki aset. Itu adalah tempoh sejurus selepas kecurian. Pengawal selia berpendapat bahawa itu adalah laporan palsu. Bursa tersebut tidak mula mendapatkan aset digital gantian sehingga 31 Oktober 2021, menurut maklumat seterusnya. Aduan itu tidak menyatakan mata wang kripto mana yang dicuri, tetapi jumlahnya kira-kira 1.7 bilion baht.
" Third paragraph: "Bitkub's explanation
Bitkub acknowledged that the personnel responsible for disclosures chose not to reveal the theft. The goal was to prevent a bank run while the exchange replaced the assets. The company disputes that the accused individuals acted fraudulently. Bitkub says its co-founders absorbed the loss by buying the same cryptocurrencies in the same quantities. The exchange insists neither the company nor its customers suffered asset losses from the incident.
In a separate update from September 2025, the SEC said customer digital assets held by Bitkub were safe and complete as of September 8, 2025. That doesn't settle the 2021 reporting allegations, though.
" Translation: "Penjelasan Bitkub
Bitkub mengakui bahawa kakitangan yang bertanggungjawab untuk pendedahan memilih untuk tidak mendedahkan kecurian tersebut. Matlamatnya adalah untuk mengelakkan lari bank semasa bursa menggantikan aset. Syarikat menafikan bahawa individu yang dituduh bertindak secara penipuan. Bitkub mengatakan pengasas bersamanya menyerap kerugian dengan membeli mata wang kripto yang sama dalam kuantiti yang sama. Bursa menegaskan bahawa syarikat mahupun pelanggannya tidak mengalami kerugian aset daripada insiden tersebut.
Dalam kemas kini berasingan dari September 2025, SEC menyatakan bahawa as
