CoinDesk

Thailand SEC Alleges Bitkub Concealed Massive $50 Million Cyberattack

July 27, 202610:32 AM
Thailand SEC Alleges Bitkub Concealed Massive $50 Million Cyberattack

Thailand's Securities and Exchange Commission (SEC) has formally accused Bitkub of failing to disclose a massive cyberattack that took place in May 2021. The breach resulted in the theft of 1.7 billion baht across 16 different digital assets, marking one of the most significant transparency failures in the region's crypto history.

This allegation of concealing a $50 million hack highlights the growing tension between centralized exchanges and regulatory bodies. As authorities investigate the extent of the cover-up, the incident serves as a stark warning regarding the necessity of robust security protocols and immediate disclosure requirements for digital asset platforms.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

Read Full Article at CoinDesk
QR Code Lightning

Support Jornal Bitcoin

Independent journalism, curated by AI, no clickbait. Keep the flame alive with any amount of BTC.

Wallet of Satoshi
jonata@walletofsatoshi.com

Daily Crypto Brief 📬

Subscribe to receive the curation of the most important Bitcoin and crypto news, summarized by AI. No spam.

Join more than 10,000 smart readers.

Related News

Massive Move: Strategy Repurchases $25M in STRC and Boosts Dollar Reserves to $3.75 Billion
Livecoins★ Featured

Massive Move: Strategy Repurchases $25M in STRC and Boosts Dollar Reserves to $3.75 Billion

Strategy, the world's largest Bitcoin treasury company, has announced a strategic $25 million repurchase of its STRC preferred shares. This aggressive move is part of a broader plan to accumulate shares while they trade below the $100 threshold.

Alongside the STRC buyback, the firm bolstered its liquidity by adding $525 million to its cash holdings, bringing total dollar reserves to a massive $3.75 billion. This significant accumulation of capital positions the company to aggressively navigate the volatile crypto market and execute future Bitcoin-related maneuvers.
HashKey Breaks Barriers: Global Crypto Exchange Merger Unifies Regional Hubs
CoinTelegraph★ Featured

HashKey Breaks Barriers: Global Crypto Exchange Merger Unifies Regional Hubs

HashKey Holdings has executed a major strategic pivot by merging its HashKey Exchange and HashKey Global divisions into a single, streamlined platform. This consolidation brings together its core jurisdictional hubs, including Hong Kong, Singapore, the Middle East, and Bermuda, into one unified digital ecosystem.

By implementing a 'unified entry, localized compliance' model, HashKey is moving away from the traditional siloed approach used by licensed exchanges to manage regulatory hurdles. This evolution allows for a seamless user experience through a single application while maintaining strict adherence to the specific legislative requirements of each global region.
Ether ETFs Surge: Weekly Inflows Triple Bitcoin’s Total as Market Shifts
Bitcoin.com★ Featured

Ether ETFs Surge: Weekly Inflows Triple Bitcoin’s Total as Market Shifts

U.S. spot crypto ETFs have delivered a massive shock to the market this week, with Ether-based products taking center stage. Leading the charge with $104 million in net inflows, Ether ETFs significantly outperformed Bitcoin, marking a pivotal moment for institutional capital allocation.

This surge highlights a growing trend where Ether's weekly inflows tripled Bitcoin's total, even amidst late-week selling pressure. While Bitcoin and other assets like Solana and XRP saw positive movement, the sheer dominance of Ether ETFs suggests that investors are aggressively diversifying their crypto exposure through regulated exchange-traded funds.
South Korean Giants POSCO and LG CNS Tap Injective (INJ) for Trade Finance Revolution
Blockchain.news★ Featured

South Korean Giants POSCO and LG CNS Tap Injective (INJ) for Trade Finance Revolution

POSCO International and LG CNS have officially selected the Injective (INJ) network to conduct a Proof of Concept (PoC) focused on tokenizing trade receivables. This high-level integration establishes Injective as a critical infrastructure provider for the next generation of decentralized finance applications.

By leveraging the Injective blockchain, these industry leaders aim to reshape global trade finance through enhanced liquidity and streamlined asset management. The move underscores the growing institutional adoption of INJ and the transformative power of tokenization in bridging traditional finance with blockchain technology.
Securitize Secures SEC Adviser License to Fuel Institutional Tokenization Surge
CoinDesk★ Featured

Securitize Secures SEC Adviser License to Fuel Institutional Tokenization Surge

Securitize, a key tokenization partner for BlackRock, has officially bolstered its Wall Street credentials by securing an SEC adviser license. This strategic milestone positions the firm as a dominant force in the growing tokenization sector, providing the regulatory framework necessary for large-scale institutional adoption.

As the industry moves toward a future of onchain investment products, this license allows Securitize to broaden its service offerings significantly. With regulators currently weighing the rules for digital assets, Securitize is proactively building the infrastructure required to bridge traditional finance with blockchain technology.
Robinhood Chain Surge: Tokenized Stocks Jump 5x as ETH Outpaces BTC in ETF Inflows
Decrypt★ Featured

Robinhood Chain Surge: Tokenized Stocks Jump 5x as ETH Outpaces BTC in ETF Inflows

The digital asset landscape is witnessing a massive breakout as tokenized stocks on the Robinhood Chain skyrocket by 5x. This surge comes amidst a broader market recovery following an 8% drop in oil prices, creating a favorable environment for risk assets. Notably, the institutional narrative is shifting, with Ethereum (ETH) significantly outpacing Bitcoin (BTC) in recent ETF inflows.

This divergence in ETF demand highlights a growing appetite for smart contract platforms over pure store-of-value assets. However, the industry remains cautious as the landscape shifts; while tokenization gains momentum, the shutdown of another major crypto exchange serves as a stark reminder of the ongoing volatility and structural changes within the global exchange ecosystem.
Jornal Bitcoin Logo