Bitkub has been proven to have covered up a $50 million hack of customer funds.

The regulatory action is documented: reporting describes Thailand's SEC alleging that Bitkub concealed a cyberattack that led to a $50 million hack. What the circulating posts add is finality. Regulatory allegations initiate a process; they are contested, may be narrowed, and are resolved through enforcement proceedings or settlement. Until a determination is reported, the accurate description is that a regulator has made a serious accusation which the exchange is entitled to answer. We are therefore rating this unverified rather than true or false — the underlying event is real, the conclusion drawn about it is premature. Readers weighing counterparty risk should note that disclosure-timing allegations against an exchange are relevant information on their own terms without needing to be overstated, and we will update this entry with a correction note when the proceedings resolve.

Thailand's SEC has publicly alleged that Bitkub concealed a cyberattack associated with about $50 million in losses.

Whether the allegation is upheld, what the exchange's response and disclosure timeline were, whether customer funds were made whole, and what penalties if any will follow are all undetermined.