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Dutch Crypto Platform Knaken Bankrupt on €7M Customer Shortfall
A Rotterdam court declared Knaken bankrupt after prosecutors said €7 million in customer funds cannot be accounted for. The ruling covers two entities.
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A Rotterdam court declared Dutch crypto platform Knaken bankrupt on July 16, after prosecutors said roughly €7 million in customer money and crypto cannot be accounted for. The ruling covers Knaken Cryptohandel B.V. and its affiliate Stichting Knaken Payments.
The Netherlands Public Prosecution Service requested the bankruptcy on public-interest grounds, citing concerns about how the company handled customer funds and repayments. The court found the two entities lacked enough assets to fully repay customers.