Executives of Thailand's Bitkub Exchange fined $235,000 for insider trading

Chain Catcher news, the Chief Technology Officer of cryptocurrency exchange Bitkub, Samret Wajanasathian, has been fined 8.5 million baht (approximately $235,000) by Thailand's securities regulator for insider trading and banned from holding executive positions for 12 months by the country's Securities and Exchange Commission (SEC).

The insider trading case stems from an event last November when Standard Chartered's acquisition plan was first announced. According to the SEC, Wajanasathian used this information to purchase KUB tokens worth 1.99 million baht (approximately $61,000 at the time). Subsequently, the price of KUB more than doubled immediately after the announcement. (CoinDesk)