Dutch Court Declares Knaken Crypto Platform Bankrupt Over 7 Million Euros Missing on Thursday

The Rotterdam court declared cryptocurrency platform Knaken Cryptohandel BV and its affiliated foundation bankrupt on Thursday after prosecutors reported 7 million euros ($8 million) in customer assets were missing.

The court ruling followed the company blocking access to its platform and accounts in early June. Knaken, founded in Rotterdam in 2017, does not appear in the Dutch Authority for the Financial Markets' register of authorized crypto-asset service providers. The Dutch Public Prosecution Service filed the bankruptcy petition on June 30 after opening a criminal investigation into the missing funds.

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