Sign In
SEC News

SEC files criminal complaint against directors, managers, or persons who are responsible for keeping BX private key and provides clues of persons who are suspected of wrongfully transferred clients’ digital assets under BX’s control or possession to other wallets which are not purported to keep client’s assets



Thursday 24 December 2020 | No. 236 / 2020


Bangkok, 24 December 2020 - Today SEC files a criminal complaint with Economic Crime Suppression Division (ECSD) requesting ECSD to investigate the wrongfully transferred of clients’ assets under control or in possession of BX Company Limited (BX) to other wallets which are not purported to keep clients’ assets in violation of the Emergency Decree on Digital Asset Businesses B.E. 2561. In the complaint, SEC provides ECSD with information regarding directors, managers, or persons who are responsible for keeping BX private key as well as clues of persons suspected of commit such wrongful acts. SEC also informs the filing of this complaint to Anti-Money Laundering Office (AMLO) for consideration of taking any action as it deems appropriate.

Following the announcement of BX (which formerly operated in digital asset exchange business) that its business operations will completely shut down on 3 April 2020 which means it will stop servicing clients who want to reclaim their assets and will lay off all employees,

SEC found out that clients’ digital assets which remained under control or in possession of BX were transferred thereafter to other out-of-control wallets without client’ instructions. That actions incurred losses to others and public in violation of Section 85 of Digital Asset Businesses Law. It also violated Section 87 of the Law which prohibits any directors, managers, or responsible officers of digital asset business operator to obtain any unlawful benefits for themselves or others at the expense of the business operator.  

Noted: Filing a criminal complaint is the commencement of the criminal process. Under the Criminal Procedure Code, after receiving the complaint, the inquiry officer will investigate the case and submit the findings and views to public prosecutor who has authority to prosecute the case against the offenders. The consideration of whether person is guilty or not is thereafter vested on the court of justice.   

-----------------------------------






Related News

SEC public hearing on proposed amendments to the qualifications and prohibited characteristics of applicants for digital asset business licenses and related persons
SEC public hearing on proposed amendments to the regulations for digital asset investment of mutual funds and private funds
SEC issues amendments to the ICOs shelf filing regulations for soft power industries to promote Thailand’s digital economy
SEC inspects service information booths of unlicensed business operators
SEC public hearing on a proposed amendment to the regulations regarding advertising warning statements on investment risks for digital tokens