CTO of Thai crypto exchange fined $ 230 000 for leaking confidential data

The Securities and Exchange Commission of Thailand has fined the CTO of cryptocurrency exchange Bitkub, Samret Vajanasatian, for using the company’s internal information to make a profit. This happened during negotiations with the financial corporation Siam Commercial Bank Public Company Limited, which planned to buy a 51% stake in Bitkub Online Company Limited (a subsidiary of Bitkub Group).

According to the SEC, between August and November 2021, Samret Vajanasatian purchased KUB tokens worth about $ 60,000 and began offering to sell the cryptocurrency to SCB. After SCB officially expressed interest in the purchase, the value of KUB coins increased by more than 100%. After receiving complaints about the internal trading of cryptocurrencies, the SEC launched an investigation into the matter.

In accordance with the stipulated penalties for violating the provisions of the Royal Decree on Digital Assets, Vajanasatian was fined USD 230,000 for engaging in insider trading. The regulator has also banned Vajanasatian from holding a senior position in any cryptocurrency-related business for the next 12 months.