Bitkub review: Thailand’s licensed baht exchange, with a flat 0.25% fee and its own chain, but an alleged hidden 2021 hack, a criminal complaint, mobile-only withdrawals and poor support ratings.
Thirty-first in our Crypto Centralized Exchanges series. Bitkub, founded in 2018 and licensed by Thailand’s SEC since 2019, offers baht deposits, a flat 0.25% maker and taker fee, hundreds of spot pairs, the KUB Chain network and a Ripple partnership. On July 23, 2026 the SEC filed a criminal complaint against Bitkub Online and two former directors, alleging that daily capital reports hid a roughly 1.7 billion baht (about $47 million) hack from May 2021 for five months; Bitkub says the co-founders replaced the stolen assets, which we could not verify. There are no derivatives or P2P, crypto withdrawals have been mobile-only since February 10, 2026, the KUB token is about 96% below its peak, market share has fallen, and Trustpilot shows 1.6 out of 5 on a small sample. We weighted all of it.
Our take, up front: Bitkub, founded in 2018 and licensed by Thailand’s SEC since 2019, is the country’s best-known exchange, with baht rails, a flat 0.25% fee, hundreds of pairs, its own KUB Chain and a Ripple partnership. It is also under a cloud: on July 23, 2026 the SEC filed a criminal complaint against Bitkub Online and two former directors, alleging that daily capital reports hid a roughly 1.7 billion baht (about $47 million) hack from May 2021 for five months. Bitkub says the co-founders replaced the stolen assets and customers lost nothing, which we could not verify. The weaknesses are plain: that alleged concealment, a record of fines, no derivatives or P2P, mobile-only crypto withdrawals since February 2026, a collapsed KUB token, a falling market share, and Trustpilot at 1.6 out of 5 on a small sample. We score it 51.5, twenty-seventh of thirty-one: just behind Phemex and ahead of Bitrue.
Bitkub’s security story is dominated by a 2021 hack that it did not disclose to the regulator for years. On July 23, 2026 Thailand’s SEC filed a criminal complaint against Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, over a May 10, 2021 cyberattack in which 16 types of digital assets worth about 1.7 billion baht (about $47 million) were drained. The SEC alleges that daily net-capital reports (Form DA 1) filed from May to October 2021 showed no material change in assets, in breach of the Digital Asset Business Decree. Bitkub says customer assets were never affected because the co-founders replaced the stolen assets with their own money, and that the SEC verified customer holdings in September 2025 (Decrypt, Nation Thailand; neither claim is independently verified). Sakolkorn says he altered the filings alone, without telling other directors or staff, to avoid a bank run. More recently, Bitkub disabled web-based crypto withdrawals for Thai customers on February 10, 2026 after a user lost about 250,000 baht to suspected phishing malware, and urges Passkeys, face verification and 2FA. CoinGecko lists about $1.18 billion in exchange reserves and records a minor incident; we found no named proof-of-reserves auditor or attestation report.
Pros
- Customer losses from the 2021 hack reportedly replaced by the co-founders (company-stated)
- Withdrawals moved to the mobile app with Passkeys, face verification and 2FA
Cons
- Alleged false regulatory filings hid a roughly $47M hack for five months
- No named proof-of-reserves auditor or attestation found
Bitkub is licensed, which is rarer than it sounds, but its regulatory record is poor. Wikipedia says it was among the first exchanges to receive a digital asset licence from Thailand’s SEC in 2019, and CoinMarketCap lists Bitkub Online as licensed, with registered capital of 450 million baht. The record since then is rough: the SEC fined it in 2022 for breaching listing rules when it listed its own KUB coin, imposed a civil penalty on then-chairman Sakolkorn Sakavee for falsifying trading-volume information (BeInCrypto), and fined Bitkub Blockchain Technology 8.53 million baht (about $234,000) after an executive traded on inside knowledge of the SCBX deal (Finance Magnates). SCBX scrapped its roughly $500 million deal for 51% of Bitkub Online in August 2022 because Bitkub needed time to fix regulatory issues. The July 2026 criminal complaint is now with the Economic Crime Suppression Division, which received further evidence from the SEC on August 6, 2026; prosecutors have not yet decided whether to indict.
Pros
- Licensed by Thailand’s SEC under the Digital Asset Business Decree
- The regulator is actively supervising and enforcing
Cons
- Fines and sanctions in 2022 and a criminal complaint in July 2026
- Prosecutors have not yet decided on an indictment
Bitkub charges a flat 0.25% maker and 0.25% taker fee on all cryptocurrencies, according to its own fee page. Deposits are free, and crypto withdrawal fees follow network costs and are updated four times a day. Traders Union notes that this compares with a market average of about 0.15% maker and 0.194% taker, and shows 0.10% at $5 million of turnover, while TradingFinder says the fee is flat regardless of volume. Older reviews cite discounts for holding the KUB token or referring friends; we could not confirm that these discounts are still offered. A bank-withdrawal fee of 20 baht appears in an older review (Captain Altcoin), and Thai banks may charge their own fees. There are no futures or margin fees because those products are not offered.
Pros
- Flat, transparent 0.25% fee; free deposits
- Withdrawal fees follow network costs
Cons
- Above the market average with little scope for volume discounts
- KUB token and referral discounts not confirmed as current
Coverage is wide for a domestic exchange, but the counts conflict. CoinGecko lists 351 coins and 358 pairs, with another snapshot at 357 and 362; TradingFinder says 163 cryptocurrencies, Traders Union 124 and Blockspot 301. All markets are quoted against Thai baht or USDT. On March 10, 2026 Bitkub became the first Thai exchange to list RLUSD against the baht, alongside a Ripple partnership, and it listed BitTorrent (BTT) in May 2026. There are no futures, perpetuals, margin or P2P trading, and CoinGecko records no margin trading. KUB Wallet now supports Ondo tokenised stocks for qualifying users, and Bitkub also runs the KUB Chain network.
Pros
- Hundreds of THB and USDT pairs; first Thai RLUSD/THB listing (March 2026)
- KUB Wallet with tokenised-stock access for eligible users
Cons
- Coin counts conflict (124 to 357)
- No futures, margin or P2P
The experience is local and mobile-first. Bitkub is built around Thai baht deposits and withdrawals, and a mobile app; Trading Brokers calls the design intuitive for beginners and experienced traders alike, though it also notes occasional slowdowns at peak demand. In January 2021 the trading system crashed three times in a month, which led the SEC to order Bitkub to fix platform issues and build a business-continuity plan (Bangkok Post). Since February 10, 2026, crypto withdrawals can only be made through the mobile app. A KYC processing delay and sudden service suspension in the past led Bitkub to compensate affected users. CoinGecko lists Bitkub’s 24-hour volume at about $122 million in one snapshot and $32 million in another, and the Bangkok Post reports that Binance TH has overtaken Bitkub, with its share of Thai trading falling from above 90% to roughly half or less.
Pros
- Baht deposits and withdrawals; beginner-friendly mobile app
- Past outages led to a regulator-ordered continuity plan and compensation for affected users
Cons
- Crypto withdrawals are mobile-only since Feb 10, 2026
- Past crashes and a shrinking share of Thai trading volume
Support ratings are poor. Traders Union, citing Trustpilot, shows 1.6 out of 5 on 27 reviews as of July 2026, with 96.3% of them one star; Gridinsoft recorded 1.7 on 23 reviews in October 2025. These are small samples. Trading Brokers (July 2026) says live chat is available 24/7 with rapid responses for common queries, and Bitkub lists a call centre on 1518, but those descriptions are not independent evidence of resolution quality. Past incidents suggest strain under pressure: the January 2021 outages drew heavy complaints and the SEC ordered improvements, and Bitkub later compensated users hit by a KYC delay and a sudden suspension. We found no external dispute channel beyond the SEC.
Pros
- 24/7 live chat and a call centre (company and Trading Brokers)
- Past compensation for affected users
Cons
- Trustpilot 1.6 out of 5 on 27 reviews (small sample)
- Past outages drew heavy complaints
Bitkub has a larger ecosystem than most single-country exchanges, but parts of it have weakened. The group runs KUB Chain, an EVM-compatible proof-of-stake layer 1 (rebranded from Bitkub Chain in March 2025), with the KUB coin capped at 110 million tokens and about 69 million in circulation. KUB traded near $0.65 on July 27, 2026, about 96% below its December 2021 peak with a market value of roughly $45 million (an aggregated news report dated that day). A new KUB Wallet supports multiple networks, including Ethereum, Arbitrum, Base and BNB Smart Chain. Bitkub partnered with Ripple in March 2026. The group shelved a Stock Exchange of Thailand listing in November 2025 and was reported to be weighing a roughly $200 million Hong Kong IPO, though the July 2026 complaint could complicate that.
Pros
- KUB Chain, KUB Wallet with multi-network support and tokenised stocks
- Ripple partnership and RLUSD/THB listing
Cons
- KUB is about 96% below its December 2021 peak
- IPO plans shelved or uncertain; market share has fallen
A Thai-licensed baht exchange with a flat 0.25% fee and its own chain, but weigh the alleged concealed 2021 hack, the open criminal complaint, the lack of derivatives and the poor support ratings.
Bitkub suits Thai residents who want baht on-ramps, a simple flat fee and a locally licensed spot exchange. Keep only what you need on the platform while the criminal complaint is open, enable Passkeys, face verification and 2FA, use only the official mobile app for withdrawals, test a small withdrawal first, and keep long-term holdings in self-custody.
Twenty-seventh of thirty-one: a Thai licence, baht rails and a flat fee, but an alleged hidden 2021 hack, an open criminal complaint and poor support ratings.
Bitkub scores 51.5, just behind Phemex (52.5) and ahead of Bitrue (51.25), BloFin (51), LBank (50.5) and HTX (45.5); it trails Kraken (74), Bitvavo (70), Coinbase (69.25), OKX (69), Crypto.com (67.75), Bybit and Gate (66), Upbit (64.5), WhiteBIT (64.25), Bitpanda (63.75), Binance (61.25), Bitso (60), Bitget (59.5), BingX (59.25), Robinhood Crypto (59), Bitfinex (58.75), KuCoin (58.5), Luno (58.25), MEXC (58), Bitstamp (57.75), Gemini (57.25), Bithumb (55.5), CoinDCX (55), Toobit (54) and Binance.US (53.75). It earns its marks on a Thai SEC licence, baht rails, a flat transparent fee, a wide pair list and its own chain and wallet. It loses ground on the alleged concealment of the 2021 hack, a record of fines, the open criminal complaint, no derivatives or P2P, mobile-only withdrawals and Trustpilot at 1.6 out of 5 on a small sample. Revisit the score if prosecutors drop or pursue the case, Bitkub publishes an independent reserves attestation or support ratings improve.
The scorecard above is deliberately general. Whether Bitkub is right for you depends on where you live, how much you keep on the platform and how much risk you accept from an exchange facing a criminal complaint over a past hack.
The Thai investor who wants baht rails
Baht deposits and withdrawals, a flat 0.25% fee and a domestic SEC licence suit residents who want a simple local on-ramp.
The mobile-first beginner
A mobile app with Passkeys and face verification suits newcomers, as long as they test a small withdrawal first and keep balances modest.
The KUB Chain explorer
KUB Wallet and KUB Chain give a Thai on-chain gateway, but the KUB token is about 96% below its peak and the group’s IPO plans are uncertain.
Derivatives traders, or anyone outside Thailand
Bitkub offers no futures, margin or P2P, and the open criminal complaint over the 2021 hack is a governance warning for large balances.
These four tables cover the specifics we didn't want to bury in prose: the fee picture, the reserves and incident timeline, regulatory footprint, and how the exchanges in this series compare.
What Bitkub charges (and where sources conflict)
| Item | Maker | Taker | Source note |
|---|---|---|---|
| Spot, all cryptocurrencies | 0.25% | 0.25% | Bitkub fee page; TradingFinder says the fee is flat regardless of volume |
| Spot at $5M turnover | 0.10% | 0.10% | Traders Union table; conflicts with the flat-fee statement above |
| Crypto deposits | Free | Free | Bitkub fee page |
| Crypto withdrawals | Network fee | Network fee | Bitkub fee page: updated daily at 12:00, 16:00, 21:00 and 00:00 (GMT+7) |
| Baht bank withdrawal | 20 THB | 20 THB | Captain Altcoin (older review); confirm the current figure |
| Minimum trade | 10 THB | 10 THB | TradingFinder |
| KUB token discount | Unconfirmed | Unconfirmed | BitDegree (older); not confirmed as current |
| Futures and margin | Not offered | Not offered | CoinGecko, Traders Union |
We could load Bitkub’s own fee page summary but not every sub-page, and third-party tables differ on volume discounts. Competitor-hosted and promotional pages were excluded or used only where labelled. Check current figures before trading.
Security, reserves and incident timeline
| Date | Event | Detail |
|---|---|---|
| 2018 to 2019 | Founded and licensed | Founded 2018; among the first exchanges to receive a Thai SEC digital asset licence in 2019 (Wikipedia) |
| Jan 2021 | Platform crashes | Trading system down on Jan 2, 3 and 16; the SEC ordered fixes and a continuity plan (Bangkok Post) |
| May 10, 2021 | Undisclosed hack | 16 digital assets worth about 1.7 billion baht (about $47M) drained, per the SEC (Decrypt) |
| May to Oct 2021 | Alleged false filings | Daily Form DA 1 reports allegedly showed no material change in assets; Bitkub says the stolen assets were replaced by Oct 31, 2021 |
| 2022 | Fines and sanctions | SEC fines Bitkub for listing-rule breaches, penalises the chairman and fines a group executive for insider trading (Finance Magnates, BeInCrypto) |
| Aug 25, 2022 | SCBX deal ends | SCBX and Bitkub terminate the roughly $500M deal for 51% of Bitkub Online while regulatory issues are resolved |
| Feb 10, 2026 | Web withdrawals disabled | After a roughly 250,000 baht phishing-malware loss by a user, crypto withdrawals move to the mobile app (Nation Thailand) |
| Jul 23, 2026 | Criminal complaint | SEC files a complaint against Bitkub Online and two former directors; referred to the Economic Crime Suppression Division |
| Aug 6, 2026 | More evidence filed | SEC submits additional evidence to the Economic Crime Suppression Division (Nation Thailand) |
| To date | Other confirmed hacks | None found in the sources we reviewed; absence of reports is not proof of strong controls |
CoinGecko lists about $1.18 billion in exchange reserves and records a minor incident. Bitkub and the former director say the co-founders replaced the stolen assets and that the SEC verified holdings in September 2025; neither claim is independently verified. We found no named proof-of-reserves auditor.
Where Bitkub stands with regulators
| Area | Status |
|---|---|
| Licence | Bitkub Online Co., Ltd. is licensed by the Thai SEC as a digital asset exchange under the Digital Asset Business Decree; registered capital of 450 million baht (CoinMarketCap) |
| Criminal complaint | Filed July 23, 2026 over alleged false reporting of the 2021 hack; police and prosecutors will decide whether to proceed |
| Past sanctions | 2022 listing-rule fine; civil penalty on the then-chairman; 8.53 million baht (about $234,000) penalty on Bitkub Blockchain Technology after executive insider trading |
| Group | Bitkub Capital Group Holdings is the parent; Bitkub Blockchain Technology runs KUB Chain; a Hong Kong IPO of about $200M was reported to be under consideration |
| Outside Thailand | No MiCA authorisation (Blockspot); not available in the United States |
Licence claims come from secondary sources and could not be checked on the SEC register. Verify the licence before relying on it.
Series 10 so far
| Binance | Kraken | Coinbase | Gate | OKX | Bybit | MEXC | HTX | Bitfinex | Bitget | Crypto.com | Bitrue | Binance.US | KuCoin | Bitstamp | Gemini | Upbit | Bitvavo | Bitpanda | Robinhood | Bithumb | BingX | Phemex | LBank | WhiteBIT | BloFin | Toobit | Bitso | CoinDCX | Luno | Bitkub | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Security (30) | 5.5 | 8.0 | 7.5 | 6.5 | 7.5 | 6.5 | 6.0 | 4.5 | 5.5 | 5.0 | 7.0 | 4.5 | 4.5 | 6.5 | 6.0 | 6.5 | 6.5 | 7.0 | 6.0 | 6.0 | 5.0 | 5.5 | 5.0 | 4.5 | 6.5 | 5.5 | 5.5 | 6.5 | 5.5 | 6.0 | 5.0 |
| Regulation (20) | 4.0 | 8.5 | 8.5 | 6.5 | 6.0 | 6.5 | 3.0 | 2.0 | 4.5 | 5.5 | 8.0 | 3.5 | 5.0 | 3.5 | 8.0 | 7.0 | 6.5 | 8.0 | 7.0 | 7.0 | 4.5 | 5.0 | 3.0 | 3.0 | 6.0 | 2.5 | 3.0 | 7.0 | 6.0 | 7.0 | 5.5 |
| Fees (15) | 8.5 | 6.0 | 4.5 | 7.0 | 7.5 | 7.0 | 8.0 | 5.5 | 9.0 | 6.5 | 5.5 | 6.5 | 9.0 | 6.5 | 5.0 | 4.0 | 8.5 | 7.0 | 5.0 | 4.5 | 8.0 | 7.0 | 7.0 | 7.0 | 7.5 | 7.0 | 7.5 | 5.0 | 5.0 | 5.0 | 5.0 |
| Coverage (10) | 9.5 | 8.0 | 7.5 | 9.5 | 8.0 | 8.0 | 9.5 | 8.0 | 6.5 | 8.5 | 8.0 | 8.0 | 5.5 | 9.0 | 5.0 | 5.5 | 6.5 | 7.0 | 8.5 | 5.5 | 6.5 | 8.5 | 8.0 | 8.5 | 6.5 | 7.0 | 8.0 | 5.0 | 6.0 | 5.0 | 5.5 |
| Experience (10) | 7.0 | 7.5 | 8.0 | 7.0 | 7.5 | 7.5 | 7.0 | 6.5 | 6.5 | 7.5 | 7.5 | 7.0 | 7.0 | 7.0 | 6.0 | 7.0 | 7.0 | 8.0 | 8.0 | 8.0 | 6.0 | 7.5 | 7.0 | 6.5 | 7.0 | 6.5 | 7.0 | 7.5 | 7.0 | 7.0 | 6.5 |
| Support (10) | 3.5 | 4.5 | 3.0 | 2.5 | 3.5 | 3.5 | 2.0 | 2.0 | 3.0 | 3.5 | 2.5 | 2.5 | 2.0 | 2.5 | 3.0 | 2.0 | 3.0 | 4.5 | 4.0 | 3.0 | 4.5 | 2.5 | 2.5 | 2.0 | 4.5 | 2.5 | 2.0 | 3.0 | 2.5 | 3.5 | 3.0 |
| Ecosystem (5) | 8.0 | 8.0 | 9.0 | 8.0 | 8.5 | 8.0 | 7.0 | 6.5 | 7.5 | 8.5 | 9.0 | 7.0 | 4.5 | 7.5 | 4.5 | 6.5 | 5.5 | 6.0 | 7.5 | 7.5 | 5.0 | 7.5 | 7.0 | 7.0 | 7.0 | 6.0 | 6.5 | 7.0 | 7.0 | 6.5 | 6.0 |
| Our score | 61.25/100 | 74/100 | 69.25/100 | 66/100 | 69/100 | 66/100 | 58/100 | 45.5/100 | 58.75/100 | 59.5/100 | 67.75/100 | 51.25/100 | 53.75/100 | 58.5/100 | 57.75/100 | 57.25/100 | 64.5/100 | 70/100 | 63.75/100 | 59/100 | 55.5/100 | 59.25/100 | 52.5/100 | 50.5/100 | 64.25/100 | 51/100 | 54/100 | 60/100 | 55/100 | 58.25/100 | 51.5/100 |
Category scores are out of 10 and weighted as shown, taken from each review in this series.
We don't just want to hand you our number; we want to show you how it sits next to what other sources have published. Round-ups like the baht rails and flat fee, but consumer ratings are harsh and the July 2026 complaint weighs on security and regulatory commentary, and our score lands above the blended figure.
Our score lands above the aggregated figure, because the alleged concealed hack and poor consumer ratings pull the blend down, while our scorecard credits the Thai licence, the flat fee and the wide baht pair list.
| Source | Score | Type |
|---|
Scores compiled by our editorial team from publicly available reviews as of November 2026. "Estimate" means the source didn't publish a single numeric score, so we converted its published verdict and sentiment into a comparable 100-point figure. Verify current figures directly with each source before citing them elsewhere.
Bitkub says customer assets were never affected by a May 2021 hack because the co-founders replaced the stolen assets, and it says the SEC verified holdings in September 2025; we could not verify either claim. The SEC alleges the hack of about 1.7 billion baht (about $47 million) was hidden from daily regulatory reports until October 2021, so keep only what you need on the platform.
Yes. Bitkub Online holds a digital asset exchange licence from Thailand’s SEC, among the first granted in 2019. It has also been sanctioned: a 2022 fine over listing rules, a civil penalty on its then-chairman, an insider-trading penalty on a group executive, and a July 2026 criminal complaint now with the Economic Crime Suppression Division.
The SEC alleges that Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, filed daily net-capital reports from May to October 2021 that did not reflect the theft of 16 digital assets worth about 1.7 billion baht. Sakolkorn says he altered the filings alone to avoid a bank run. Prosecutors have not yet decided whether to indict.
Bitkub charges a flat 0.25% maker and 0.25% taker fee on all cryptocurrencies, per its fee page. Deposits are free and crypto withdrawal fees follow network costs, updated four times a day. Traders Union shows 0.10% at $5 million of turnover while TradingFinder says the fee is flat, so check the live schedule.
Since February 10, 2026, Bitkub has disabled web-based crypto withdrawals for Thai customers after a user lost about 250,000 baht to suspected phishing malware. Withdrawals go through the mobile app, and Bitkub urges Passkeys, face verification and 2FA.
No. We found no futures, perpetuals, margin or P2P trading. Bitkub is spot only, with baht and USDT markets, and it also runs KUB Chain and KUB Wallet.
Traders Union, citing Trustpilot, shows 1.6 out of 5 on 27 reviews as of July 2026, with 96.3% one-star, and Gridinsoft recorded 1.7 on 23 reviews in October 2025. These are small samples. Bitkub offers 24/7 live chat and a call centre, and it compensated users after a past KYC delay and suspension.
Bitkub scores 51.5 against Bitrue’s 51.25. Bitkub has a domestic licence, baht rails and a flat fee but an open criminal complaint, while Bitrue lists more assets but has weaker regulatory standing.
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