Maxbit CEO Denies Link to Shuffle Gambling Site, Cites Political Context and Commitment to Compliance

Key summary

Pakhet Ratchakitprapa, CEO of Maxbit Digital Asset, stated on Facebook that the company is not involved with the gambling website 'Shuffle,' characterizing the situation as a political issue. The company confirmed it has accelerated internal checks, cooperated with the relevant committee and authorities, including providing information to the committee on October 22, and is developing its transaction monitoring processes to align with evolving digital asset risks. Maxbit noted that while a specific transaction of approximately 200,000 baht was transferred to an address associated with Shuffle, their blockchain analytics tools had limitations regarding new addresses with insufficient data at the time. The company emphasized that it does not use transaction value as a criterion to diminish risk importance and has implemented additional measures to block related addresses without relying solely on tool assessments. Maxbit also plans to discuss with other industry participants and the Securities and Exchange Commission (SEC) to enhance industry-wide detection of risky transactions.