Dutch prosecutors sell Knakens seized crypto for €2.2M after exchange goes bankrupt
Dutch prosecutors have sold cryptocurrency seized from bankrupt trading platform Knaken for €2.2 million ($2.5 million), leaving the proceeds as the only money currently available in an estate facing customer claims estimated at €10 million to €12 million. Dutch regional broadcaster Rijnmond reported that court-appointed trustee Carl Hamm has contacted about 6,300 former customers and warned them to temper expectations as he works through the failed platforms finances. The sale follows Knakens July bankruptcy, which crypto.news previously reported was ordered by a Rotterdam court on July 16 after the Dutch Public Prosecution Service sought to have the company wound up in the public interest. Prosecutors had alleged that roughly €7 million in customer funds could not be accounted for, while the court found the company did not have enough assets to repay users in full. Knaken had already stopped operating in early June, cutting customers off from the app through which they had bought, traded and stored cryptocurrency. Knaken customers face a large gap between claims and available cash Hamm estimated that customers put between €10 million and €12 million into Knaken, compared with the €2.2 million now held by the bankruptcy estate following the crypto sale. Explaining how customer positions were structured, the trustee said









