bitkub

📊 Bitkub holds 820 billion $LUNC 💡

That is 12.72% of total supply worth $43.3 million USD across 26 wallets. Now officially reported to CoinMarketCap. 👀

coinmarketcap.com/exchanges/bitk…

That number alone is worth paying attention to as a LUNC investor. Here is the full picture right now.

The Thai SEC just filed a criminal complaint against Bitkub Online and two former directors for reporting false information during a cyber incident in May 2021. During that attack, approximately 1.7 billion THB ($50+ million USD) worth of customer digital assets across 16 tokens were stolen.

The SEC found that Bitkub failed to accurately reflect the hack in their daily liquidity reports filed with regulators between 10th May and 30th October 2021, effectively concealing the incident.

Two former directors who signed those reports are now personally named in the complaint alongside the company. The case now moves to police investigation, then prosecution, then court. 📋

The Thai SEC official announcement:
sec.or.th/EN/Pages/News_…

I will be honest. This gives me some concern given the size of their LUNC reserves. 👀

That said, here are two things LUNC investors specifically need to know.

🔹 Bitkub has stated that all user assets were fully restored. The company used executive funds to buy back every stolen asset before the 31st October 2021 replacement date. No customer lost funds.

🔹 This incident happened in May 2021. Bitkub did not list LUNA until around late April 2022. This means zero LUNA was involved in or affected by this hack.

Note that Bitkub still uses the $LUNA ticker for Luna Classic and does not list LUNA v2.

The legal issue here is about disclosure to regulators, not about missing customer funds. Stay informed and watch how this develops. 👀

#LUNC #Lunccommunity #TerraClassic #Bitkub $LUNC

$LUNC

Over $100 million in Thai digital assets have been frozen in a surprise raid by Thailand's SEC, marking a dramatic escalation in the agency's pursuit of Bitkub and its former directors over alleged false disclosures linked to the 2021 $50 million cyberattack.

Thailand's cryptocurrency market was shaken to its core with the revelation that the country's SEC has filed a criminal complaint against Bitkub and two former directors. As the market struggles to come to terms with the severity of the allegations, analysts are scrambling to understand the implications of this move on the wider digital asset ecosystem.

Smart money is taking this development very seriously, with on-chain data showing a sharp increase in outflows from Bitkub's flagship exchange as investors scramble to get out ahead of a potentially messy regulatory reckoning. As the clock ticks down, it's clear that this drama has far-reaching implications for the future of Thai crypto. #Bitkub #ThailandCrypto #RegulatoryReckoning. In the coming days, Bitkub's stock price will need to clear $10.50 to break free from this regulatory shadow, but can it?

Thailand SEC sues Bitkub for allegations of hiding misleading information

- The Thailand SEC has filed criminal charges against Bitkub and two former executives.
- The allegations relate to concealing misleading information about the 2021 cyberattack that caused damage of about $50 million.
- The case highlights the legal risks for crypto exchanges when they fail to comply with regulations.
- Bitkub is one of Thailand’s major exchanges; this event could affect investor confidence.
#BinanceSquare #CryptoNews #Bitkub #THAISEC

$btc $eth

#vlikevn Titanbot

Source: CoinTelegraph

Thailand’s SEC files criminal lawsuit against Bitkub, accusing it of concealing a hacker attack in 2021 estimated at around $50 million. #泰国 #Bitkub #SakolkornSakavee

Thailand’s SEC has filed a criminal complaint against Bitkub and two former directors. The legal action follows allegations of false disclosures concerning a 2021 cyberattack that affected $50 million in digital assets.

#Bitkub #Thailand ‎

🟩📈The imminent pump is starting, the prediction was spot on, we're expecting highs of up to 1.2 bucks before entering Bitkub. 🟩📈#BSB After a **correction and consolidation, it's gonna break out again to the upside. #BSB #BITKUB