Around 30,000 customers of bankrupt crypto broker Knaken Cryptohandel B.V. are set to recover only about a third of their funds. Dutch authorities recovered approximately €2.2 million by selling seized digital assets, while the estimated shortfall in customer funds stands at €7 million. The company’s legal structure, which purchased crypto in its own name rather than holding tokens on behalf of individual clients, leaves customers with no claims to specific digital tokens and places them as unsecured creditors. The bankruptcy, declared on July 16, 2026 by the Rotterdam District Court, followed the Dutch Authority for the Financial Markets (AFM) rejecting Knaken’s application for authorization under the EU’s MiCA regulation.
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