Knaken Crypto Sold for €2.2 Million Amid Ongoing Bankruptcy Proceedings

Dutch prosecutors have successfully sold the remaining cryptocurrency from failed crypto platform Knaken for €2.2 million.

The proceeds will be used in the bankruptcy process and ultimately towards claims from creditors, who are estimated to be around 30,000 strong.

Knaken's downfall began in early June 2026 when customers were locked out of their accounts and unable to access their balances.

The company had failed to obtain the necessary regulatory authorization under the European Union's new crypto rules, leading prosecutors to launch a criminal investigation and eventually declare bankruptcy on July 16.