According to FinanceFeeds, the Rotterdam court in the Netherlands has declared the crypto platform Knaken and its customer funds foundation bankrupt. Prosecutors said that about €7 million (about $8 million) in customer assets could not be reconciled; the court found that the platform’s existing assets are insufficient to fully repay users, and has appointed a bankruptcy trustee to inventory assets and handle customers’ claims. Knaken previously stopped operating in early June due to its failure to obtain a MiCA license, and about 30k customers may be affected. The court said the bankruptcy ruling has not yet determined the whereabouts of the funds or whether any criminal offense exists; the relevant matters are still being investigated in a separate case.