SEC orders Bitkub to amend KUB coin technology standard – in adminTransfe section

According to the Securities and Exchange Commission (SEC) in its meetings No. 7/22 and No. 10/2022, the resolution has been ordered that the Company Bitkub Online Ltd. (Bitkub) Carry out revisions to the selection and approvalKUB Coins Come to service in the digital asset trading center by August 4, 2022

by giving Bitkub Coordinate with coin issuers GOLD Amend the Technology Standards of the KUB Coin Project to be in accordance with the Digital Asset Selection Committee of Bitkub considered (on 5 May 2021) by Bitkub There has been a letter dated Aug. 4, 2022 explaining the amendments to the selection and approval of KUB coins to be traded indigital asset trading center ready to submit relevant documents

SEC. At the meeting No. 13/2022 on October 6, 2022, Bitkub’s Statement of Facts and other relevant documents were considered. Found a new fact that The technology of the KUB coin project has a system adminTransfer(system that allows administrators to transfer digital assets from any digital asset wallet)This could pose a risk that malicious actors will be able to transfer digital assets from any digital asset wallet. If accessing rights in such systems

alsono technical control Therefore, it can be considered that Bitkub offers KUB coin trading service with adminTransfer. which has not yet taken into account the risks mentioned above It is an operation that may cause damage to the people.

The SEC, therefore, by virtue of Section 35, paragraph one of the Digital Asset Business Act B.E. 2561 by coordinating with the KUB coin issuer Edit the technology standard of the KUB coin project and edit the section. adminTransfer To limit the systemic impact of exposure to digital assets of KUB token holders from unauthorized access to such systems.

taking into account technical remediation (by design) and reducing the likelihood of personnel intervention; Bitkub has clearly provided evidence of the amendment to the SEC within 30 days of Oct. 6, 2022. and give BitkubDisclosure about the risks adminTransfer of KUB Coin on Bitkub website within 3 days from 6 Oct 2022

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