Knaken’s €2.2M crypto sale: Limited recovery expected

Dutch prosecutors sold €2.2M in crypto seized from Knaken. With €7M missing, 6,300 customers are warned that recoveries may be limited. The sale provides the first funds for creditor claims amid ongoing investigations.

Dutch prosecutors have sold €2.2 million worth of cryptocurrency seized from the failed crypto platform Knaken, providing the bankruptcy estate with its first funds for creditor claims. Knaken collapsed in June 2026 after customers were locked out of their accounts due to the platform’s failure to obtain required regulatory authorization under new EU crypto rules. The Dutch Authority for the Financial Markets alerted prosecutors, leading to a criminal investigation and the seizure of assets by the financial-crime agency FIOD. By late June, investigators reported that approximately €7 million in customer funds were missing, prompting bankruptcy proceedings. The Rotterdam District Court declared Knaken bankrupt on July 16, citing a significant shortfall between assets and liabilities. Trustee Carl Hamm contacted about 6,300 customers, warning that recoveries could remain limited, as customers had invested an estimated €10–12 million. The €2.2 million from the crypto sale is currently the estate’s only available funds, and a criminal investigation is ongoing.