MaxBit CEO Clarifies Digital Asset Transaction to Shuffle Amid Political Scrutiny

Key summary

On October 24, Pokhetor Ratchakitprapa, CEO of MaxBit Digital Asset Co., Ltd., posted on Facebook to clarify a transaction involving approximately 200,000 baht transferred to the address 'Shuffle,' which is currently under political scrutiny. The company stated it uses blockchain analytics tools to assess risk based on both transaction value and destination addresses, though Thai regulations do not yet mandate such tools directly. MaxBit noted that while its risk assessment tools had limitations regarding new addresses with insufficient data at the time of the transaction, the company has since accelerated checks and blocked addresses related to Shuffle without relying solely on tool evaluations. The CEO emphasized that the company does not minimize risk based on transaction value and continues to cooperate with government agencies, having provided information to the committee on October 22. MaxBit plans to discuss with other industry participants and the Securities and Exchange Commission (SEC) to develop enhanced industry-wide detection measures while maintaining compliance with laws and regulations.