Dutch crypto platform Knaken declared bankruptcy by court, with 7 million euros of user assets missing

The Rotterdam court in the Netherlands has declared Knaken Cryptohandel BV and its affiliated foundations bankrupt, with approximately 7 million euros (approximately 8 million US dollars) in customer assets that cannot be recovered. The court has ruled to initiate bankruptcy proceedings to liquidate assets, and currently the company's assets are insufficient to repay user funds. The Dutch prosecution has launched a criminal investigation into the lack of funds, and the Dutch Financial Crimes Investigation Agency (FIOD) has seized relevant equipment and assets. According to NL Times, Knaken did not appear on the authorized list of the Dutch Financial Markets Authority (AFM). （Cointelegraph）