The Rotterdam District Court has formally declared the Dutch cryptocurrency platform Knaken bankrupt, confirming the total collapse of the exchange that once sponsored major football clubs Ajax and Feyenoord.
The ruling, issued on the request of the Dutch Public Prosecution Service (OM), marks the definitive end of the company's operations and initiates the formal liquidation process for its remaining assets.
According to reports, approximately €7 million in client funds is missing from the platform.
According to reports, approximately €7 million in client funds is missing from the platform.
The disappearance of these assets raises serious concerns for retail investors who had deposited capital with the exchange, many of whom are now unlikely to recover their full investments.
The bankruptcy declaration follows a period of intense scrutiny and operational failure that began months ago.
Knaken had ceased all business activities at the end of May, signaling the beginning of its terminal decline.