Dutch cryptocurrency platform Knaken has been declared bankrupt by a Rotterdam court after prosecutors alleged that around €7 million in customer funds could not be accounted for.
Summary
- Crypto exchange Knaken was declared bankrupt after prosecutors alleged €7 million in customer funds disappeared.
- A Rotterdam court said Knaken lacked enough assets to repay customers fully after operations stopped.
- Knaken’s collapse follows MiCA enforcement, which now bars unlicensed crypto firms from serving EU customers.
The ruling followed a bankruptcy request filed by the Netherlands Public Prosecution Service in late June after regulators raised concerns about the…