{"investigation":{"slug":"vcex-io-as-sure-technology-co-ltd","entity_name":"Vcex.io (As Sure Technology Co., Ltd.)","trust_score":5,"severity_base":null,"score_modifier":0,"confidence":0.6,"status":"published","content_type":"investigation","summary":"Vcex.io was a Thai-language digital asset trading platform, operated via the website www.vcex.io and the VCEX mobile app, allegedly run by As Sure Technology Co., Ltd. On October 7, 2026, Thailand's Securities and Exchange Commission (SEC) filed a criminal complaint with the Economic Crime Suppression Division against As Sure Technology and four related individuals, alleging the company operated an unlicensed digital asset exchange between December 2021 and September 2022. The SEC has also asked Thailand's Ministry of Digital Economy and Society to block public access to the platform, reportedly effective November 7, 2026.","sections":[{"content":"On October 7, 2026, the Securities and Exchange Commission (SEC) of Thailand filed a criminal complaint with the Economic Crime Suppression Division (ECSD, known in Thai as บก.ปอศ.) against As Sure Technology Co., Ltd. and four related individuals identified in Thai-language reporting as Yuttana Srisuriyaphon, Sivanas Yamdee, Kirati Prasanthai, and Pimchaya Wattanakulyothin. The complaint alleges that the company and named individuals operated the website www.vcex.io and the VCEX mobile application as a digital asset exchange without authorization from the SEC, in violation of Section 26 of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). The SEC alleges that Yuttana, Sivanas, and Kirati held signing authority or managed operations during the relevant period and are accordingly liable under Section 94 of the decree alongside the company, with penalties alleged under Section 66 of the decree read together with Section 83 of the Thai Criminal Code (provisions on joint offenders). As of this writing, the matter has been referred to the Economic Crime Suppression Division for investigation; no indictment, prosecution outcome, or court ruling has been reported. Under Thai procedure, filing a criminal complaint initiates the process — decisions on prosecution and any conviction rest with police investigators, public prosecutors, and the courts.","heading":"Thai SEC Criminal Complaint (October 2026)","sources":[{"url":"https://www.infoquest.co.th/?p=660794","name":"Thai SEC files criminal complaint against As Sure Technology and VCEX platform (InfoQuest)","type":"news_article","credibility":2},{"url":"https://coinfomania.com/thai-sec-files-complaint-against-as-sure-technology/","name":"Thai SEC files complaint against As Sure Technology (Coinfomania)","type":"news_article","credibility":2},{"url":"https://digitalpolicyalert.org/event/44420-securities-and-exchange-commission-announced-investigation-into-as-sure-technology-over-unlicensed-digital-asset-exchange-operations","name":"Securities and Exchange Commission announced investigation into As Sure Technology over unlicensed digital asset exchange operations (Digital Policy Alert)","type":"research","credibility":2},{"url":"https://www.mitihoon.com/?p=684114","name":"Mitihoon, October 7, 2026 news roundup","type":"news_article","credibility":2}],"severity":"critical"},{"content":"According to the SEC's allegations as reported by Thai financial media, As Sure Technology and the named individuals operated the Vcex.io platform between December 24, 2021, and September 2, 2022. During this period, the platform allegedly allowed users to match their own buy and sell orders, or to exchange digital assets with other users, and the operators allegedly charged transaction fees as a regular commercial activity — conduct that Thai regulation classifies as operating a digital asset exchange requiring a license. The service was offered in the Thai language and, per the SEC's allegations, was promoted through in-person events and online channels within Thailand, which the regulator cites as evidence the operation targeted Thai residents without the required authorization under the Emergency Decree on Digital Asset Businesses B.E. 2561.","heading":"Alleged Unlicensed Trading Operations (2021–2022)","sources":[{"url":"https://www.infoquest.co.th/?p=660794","name":"Thai SEC files criminal complaint against As Sure Technology and VCEX platform (InfoQuest)","type":"news_article","credibility":2},{"url":"https://digitalpolicyalert.org/change/21882-operational-license-requirement-in-securities-and-exchange-commission-investigation-into-as-sure-technology-over-unlicensed-digital-asset-exchange-operations","name":"Operational License Requirement — SEC investigation into As Sure Technology (Digital Policy Alert)","type":"research","credibility":2}],"severity":"high"},{"content":"Alongside the criminal complaint, the SEC asked Thailand's Ministry of Digital Economy and Society (DE) to block public access to the Vcex.io website and VCEX app. This request relies on powers under the Emergency Decree on Measures for the Prevention and Suppression of Technology Crime (No. 2) B.E. 2568 (2025), which allows the ministry to block access to unlicensed digital asset trading platforms. Multiple reports, including the Digital Policy Alert regulatory tracker and Thai financial news outlets, state that public access to the platform is scheduled to be blocked effective November 7, 2026. The SEC reportedly advised any remaining Thai users of the platform to address their holdings before that date and reiterated a general public warning against using unlicensed digital asset operators, noting the absence of legal protection and elevated fraud and money-laundering risk on unlicensed platforms.","heading":"Platform Blocking Order","sources":[{"url":"https://www.infoquest.co.th/?p=660794","name":"Thai SEC files criminal complaint against As Sure Technology and VCEX platform (InfoQuest)","type":"news_article","credibility":2},{"url":"https://digitalpolicyalert.org/event/44420-securities-and-exchange-commission-announced-investigation-into-as-sure-technology-over-unlicensed-digital-asset-exchange-operations","name":"Securities and Exchange Commission announced investigation into As Sure Technology (Digital Policy Alert)","type":"research","credibility":2},{"url":"https://coinfomania.com/thai-sec-files-complaint-against-as-sure-technology/","name":"Thai SEC files complaint against As Sure Technology (Coinfomania)","type":"news_article","credibility":2}],"severity":"high"},{"content":"Searches also surfaced a 2026 warning from New Zealand's Financial Markets Authority (FMA), reproduced in the IOSCO International Securities & Commodities Alerts Network (I-SCAN) database, concerning an entity using the name \"VCEX\" at the domain vcexin.com, which the FMA also links to aliases including \"Swift Wave Capital\" and \"Victory Crypto Exchange.\" This domain (vcexin.com) differs from the domain named in the Thai SEC's complaint (vcex.io), and no source reviewed establishes a confirmed connection between the two. It is alleged, but not verified, that this may be an unrelated platform or scam operation trading on a similar name; readers should not assume the FMA warning and the Thai SEC complaint concern the same operator. This is included for completeness and flagged as low confidence pending clarification of any relationship between the two.","heading":"Note on a Separately Flagged Platform Using a Similar Name","sources":[{"url":"https://www.iosco.org/i-scan/?id=51525","name":"VCEX warning, IOSCO I-SCAN alert database","type":"regulatory","credibility":1},{"url":"https://tradersunion.com/scam-or-safe/vcex-review/","name":"Is VCEX Safe or Scam? (Traders Union review)","type":"research","credibility":3}],"severity":"low"}],"timeline":[{"date":"2021-12-24","event":"Alleged start of unlicensed digital asset exchange operations by As Sure Technology via Vcex.io, according to the SEC's complaint.","source":"InfoQuest","source_url":"https://www.infoquest.co.th/?p=660794","date_evidence":"the company and two named individuals ran matching services between December 24, 2021, and September 2, 2022"},{"date":"2022-09-02","event":"Alleged end of the period of unlicensed operation cited in the SEC's complaint.","source":"InfoQuest","source_url":"https://www.infoquest.co.th/?p=660794","date_evidence":"between December 24, 2021, and September 2, 2022"},{"date":"2026-10-07","event":"Thailand's SEC filed a criminal complaint with the Economic Crime Suppression Division against As Sure Technology Co., Ltd. and four related individuals over the Vcex.io/VCEX platform.","source":"Digital Policy Alert","source_url":"https://digitalpolicyalert.org/event/44420-securities-and-exchange-commission-announced-investigation-into-as-sure-technology-over-unlicensed-digital-asset-exchange-operations","date_evidence":"On 7 October 2026, the Securities and Exchange Commission of Thailand filed a criminal complaint."},{"date":"2026-11-07","event":"Scheduled effective date for Thailand's Ministry of Digital Economy and Society to block public access to the Vcex.io platform, at the SEC's request.","source":"InfoQuest","source_url":"https://www.infoquest.co.th/?p=660794","date_evidence":"Public access to the platform will be blocked starting 7 November 2026."}],"sources_used":[{"url":"https://www.infoquest.co.th/?p=660794","name":"Thai SEC files criminal complaint against As Sure Technology and VCEX platform (InfoQuest)","type":"news_article","archive_url":null,"credibility":2,"archive_timestamp":null},{"url":"https://coinfomania.com/thai-sec-files-complaint-against-as-sure-technology/","name":"Thai SEC files complaint against As Sure Technology (Coinfomania)","type":"news_article","archive_url":null,"credibility":2,"archive_timestamp":null},{"url":"https://digitalpolicyalert.org/event/44420-securities-and-exchange-commission-announced-investigation-into-as-sure-technology-over-unlicensed-digital-asset-exchange-operations","name":"Securities and Exchange Commission announced investigation into As Sure Technology over unlicensed digital asset exchange operations (Digital Policy Alert)","type":"research","archive_url":null,"credibility":2,"archive_timestamp":null},{"url":"https://digitalpolicyalert.org/change/21882-operational-license-requirement-in-securities-and-exchange-commission-investigation-into-as-sure-technology-over-unlicensed-digital-asset-exchange-operations","name":"Operational License Requirement — SEC investigation into As Sure Technology (Digital Policy Alert)","type":"research","archive_url":null,"credibility":2,"archive_timestamp":null},{"url":"https://www.mitihoon.com/?p=684114","name":"Mitihoon, October 7, 2026 news roundup","type":"news_article","archive_url":null,"credibility":2,"archive_timestamp":null},{"url":"https://www.iosco.org/i-scan/?id=51525","name":"VCEX warning, IOSCO I-SCAN alert database","type":"regulatory","archive_url":null,"credibility":1,"archive_timestamp":null},{"url":"https://tradersunion.com/scam-or-safe/vcex-review/","name":"Is VCEX Safe or Scam? (Traders Union review)","type":"research","archive_url":"http://web.archive.org/web/20261007005146/https://tradersunion.com/scam-or-safe/vcex-review/","credibility":3,"archive_timestamp":"2026-10-07T00:51:46+00:00"}],"source_tags":[],"addresses":[],"reviewed":false,"reviewed_by":null,"model_used":"claude-code-investigator","created_at":"2026-10-15T12:10:50.583648+00:00","updated_at":"2026-10-15T13:09:27.314754+00:00"},"source_quality":{"total":7,"tier1":0,"tier2":0,"tier3":0,"unrated":7},"follower_count":null,"content_updated_at":"2026-10-15T12:10:50.860Z","last_fact_checked_at":null,"fact_check_next_allowed_at":null,"update_next_allowed_at":null}