Bitkub: what the sources say

Regulation, reserves, fees

Reserves note: Shareholders letter says Bitkub launched Proof of Reserve with real-time transparency, live on CoinMarketCap; no method, auditor or date given. The PoR support page found covers only Tether's USDT reserves, not exchange liabilities.

Incidents and regulator actions found

Security incidents

• 2021-05 Cyberattack drained 16 types of digital assets worth about 1.7 billion baht (about USD 47 million); not disclosed publicly at the time, revealed in 2026 via SEC complaint Outcome: Bitkub says co-founders bought replacement assets so neither company nor customers lost money (claim not independently verified); Thai SEC filed criminal complaint against Bitkub and two former directors for false net-capital reports source

Regulator and court actions

• 2026-07 Thai SEC: Criminal complaint at Economic Crime Suppression Division against Bitkub and two former directors alleging false daily net-capital reports May-Oct 2021 to hide the hack loss Outcome: Referred to police and prosecutors; no court outcome reported PRESS OR OTHER SOURCE · official text not found source
• 2022-09-27 Thai SEC: Alleged wash trading by authorised agents of Bitkub and two individuals creating artificial volume; SEC seeking penalty above USD 600,000 and six-month trading ban for the defendants Outcome: No final ruling reported in article PRESS OR OTHER SOURCE · official text not found source
• 2021-12 Thai SEC: Fine of 3.9 million baht for eight violations (system disruptions, customer support, trading rules, handling of customer assets) per Wikipedia Outcome: Fine imposed (third-party source) PRESS OR OTHER SOURCE · official text not found source
• 2022-08-30 Thai SEC: Fine on Bitkub Blockchain Technology Co for insider trading by its CTO on KUB tokens ahead of the Siam Commercial Bank acquisition talks; executive also banned 12 months from executive roles in crypto firms. Reported by Finance Magnates. Outcome: Fine of 8.53 million baht (about USD 234,000) on the subsidiary. PRESS OR OTHER SOURCE · official text not found source
• 2022-07-01 Thai SEC: Civil enforcement against Bitkub Online Co., Anurak Chuachai and Sakonkorn Sakawi over wash trading (4 Jan to 5 Sep 2019). Reported by MGR Online. Outcome: Civil fines totalling over 24.16 million baht; one individual barred 12 months from director/executive roles and 6 months from trading. The 2026-07-23 criminal referral to the ECD is recorded in the separate entry. PRESS OR OTHER SOURCE · official text not found source

What we could not verify

bitkub.com direct pages blocked (Cloudflare); fetched via summariser. OAM not checked. Terms/restricted countries, PoR details, futures, staking, withdrawal fees not verified. Entity name and 2019 licence/2021 fine from Wikipedia only. 2026-10 recheck: dates of the wash-trading action differ between sources (Bangkok Post article 2022-09-29, MGR Online says 2022-07-01); outcome of 2026 criminal complaint not reported.

Facts are as of 9 Oct 2026. We ran a limited number of searches per exchange, so an empty list is not proof that nothing happened. We did not check the Italian OAM register. Items from press or third parties are reports, not findings by an authority. If something here is wrong or out of date, send a correction with a source: corrections policy. Education only, not investment advice.

Sources

1. [1] ESMA interim MiCA CASP register CSV accessed 2026-10-09
2. [2] Decrypt: Thai SEC criminal complaint against Bitkub accessed 2026-10-09
3. [3] Bitkub trading fee page accessed 2026-10-09
4. [4] Bitkub public API symbols accessed 2026-10-09
5. [5] FinanceFeeds: Bitkub wash trading case accessed 2026-10-09
6. [6] Wikipedia: Bitkub accessed 2026-10-09
7. [7] Bitkub shareholders letter 2024 accessed 2026-10-09
8. [8] Financemagnates: Thai SEC fines Bitkub subsidiary for insider trading accessed 2026-10-09
9. [9] MGR Online: Bitkub wash trading and false reporting case accessed 2026-10-09