Dutch Prosecutors Sell Crypto Seized From Bankrupt Crypto Platform Knaken, Raising $2.5M for Creditors
The Dutch Public Prosecution Service has sold cryptocurrency seized from the Knaken platform, raising $2.5 million (€2.2 million) to repay creditors of the defunct platform, according to court-appointed trustee Carl Hamm. Knaken, which operated without the necessary licenses from the Dutch market regulator, went offline in early June this year and was declared bankrupt by the Rotterdam court on July 16. The trustee estimates that customers invested between $12 million and $14 million, and this sale is currently the only funds in the bankruptcy estate.
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