Knaken Crypto Exchange Declared Bankrupt | Amsterdam News

Dutch crypto exchange Knaken has collapsed into bankruptcy, leaving 30,000 customers with roughly seven million euros in vanished funds. The public prosecution launched a criminal probe in June, raiding offices and seizing assets as the platform went dark a month ago. Despite a supposed safety net—a foundation meant to protect customer money—no payouts were ever made, and the court now confirms both Knaken and the foundation are bankrupt. Once a major sponsor of soccer teams and launched in 2017, the exchange failed to secure required European licenses, sealing its fate. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8b28f32a9e678f81