Dutch crypto platform Knaken declared bankrupt by the court, with approximately €7 million in customer assets missing

PANews July 17, Cointelegraph reports that the Rotterdam District Court in the Netherlands has ruled that the cryptocurrency platform Knaken Cryptohandel BV and its associated foundation be declared bankrupt. This follows investigators’ discovery of approximately €7 million (about $8 million) in customer assets whose whereabouts remain unknown. The court said Knaken went offline and froze accounts in early June, and its assets were insufficient to fully repay users, while customers lacked adequate information to determine their own legal status. Dutch prosecutors filed for bankruptcy on June 30 and launched a criminal investigation into the missing funds; a financial crime investigation agency also carried out a surprise raid on the company in late June and seized equipment and assets. The report noted that Knaken does not appear on the list of crypto service providers registered with the Netherlands Authority for Financial Markets (AFM).