Today (24 Mar 2026), lawyers and representatives of victims whose crypto investment accounts on the Bitkub platform were hacked submitted a complaint letter to Achinee Patmasukon, Assistant Secretary-General and Head of the Complaint and Tip-Off Center at the Securities and Exchange Commission (SEC). They sought assistance and legal consultation after unauthorized transactions caused substantial asset losses.
One victim stated that these thefts usually occurred at night. They affirmed they did not conduct the transactions themselves, did not click on any phishing links, nor shared account information with others.
However, unauthorized parties gained control of the accounts to make transactions. Two main theft patterns were identified:
1. Transferring coins out to other accounts. Criminals would sell all the victim’s existing coins to purchase major cryptocurrencies such as Bitcoin, Ethereum, or ADA, then transfer them to the perpetrators' destination accounts.
2. Price manipulation of coins. If the victim had set restrictions to block coin transfers, criminals would use the victim’s funds to buy obscure, illiquid coins at inflated prices, creating artificial trading pairs to extract money from the account.
Currently, within this group alone, approximately 44 victims have reported losses totaling over 40 million baht. It is estimated that including other groups, victims may exceed 100 individuals.
Individual losses range from tens of thousands of baht up to a maximum of 6.5 million baht. The victims come from various professions, including business owners, company employees, and the general public.
It was also noted that some victims had crypto trading apps installed from two platforms on their phones, yet only one platform’s system was breached or hacked.
The primary purpose of submitting the complaint to the SEC is to request an investigation into the security systems of the application, including cases where the system allowed coin prices to be set unrealistically high, creating vulnerabilities exploited for theft.
Victims also demand that the platform take responsibility and provide compensation. So far, the platform has not contacted victims to acknowledge responsibility or offer restitution, only sending emails outlining steps to take after a hack and issuing warnings about phishing emails.
Anek Yuyuen, Deputy Secretary-General and SEC spokesperson, revealed that the SEC has received complaints from investors using digital asset trading centers and has preliminarily gathered information from the investors.
Normally, service providers must have appropriate systems that comply with criteria for storing and safeguarding client assets, as well as effective information technology and risk management systems.
The SEC will consider the facts and proceed accordingly. Meanwhile, investors with additional information or evidence can submit it to the SEC’s Complaint and Tip-Off Center by calling 1207, via the SEC’s Facebook page, or through the SEC Live Chat on the SEC website for further consideration.
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