Dutch Authorities Liquidate Bankrupt Crypto Exchange Knaken's Assets for $2.55 Million

Dutch authorities have liquidated the remaining assets of bankrupt cryptocurrency exchange Knaken for approximately $2.55 million.

The sale follows Knaken's collapse after it failed to meet the EU's MiCA regulatory requirements, which mandate strict authorization and operational standards for crypto service providers.

Knaken had attracted around 30,000 customers through aggressive marketing, including sponsorships of local soccer clubs.

Reports indicate that approximately $8.12 million in customer funds vanished prior to the exchange's shutdown, though the exact circumstances remain under investigation.