Woofun AI reports that Thailand’s Securities and Exchange Commission filed criminal charges on July 23 against Bitkub Online and former directors Sakolkorn Sakavee and Thaweesap Rawan. The charges allege the submission of false daily net capital reports between May 10 and October 30, 2021, to conceal a hack resulting in losses of approximately 1.7 billion Thai baht. Bitkub stated that co-founders personally covered the shortfall to prevent a platform run, ensuring customer assets remained uncompromised. The SEC confirmed on September 8, 2025, that customer assets were safe and intact.