The Dutch public prosecutor has filed a request with the Rotterdam court to declare the crypto platform Knaken Cryptohandel and its affiliated entity, Stichting Knaken Payments, bankrupt in the public interest. Knaken has been offline since early June 2026, leaving around 30,000 customers unable to access their crypto assets.
The platform operates without a license from the Netherlands market regulator (AFM) required under EU crypto rules, despite offering euro-to-crypto exchange services, trading, and digital asset storage.
Although the company claims to have halted operations and is in the process of liquidation, the prosecutor says the process is not properly conducted, raising concerns including an allegation that Knaken instructed customers not to file claims for compensation.
If the court grants this request, the court-appointed trustee will take over Knaken’s assets to determine distributions to customers and creditors.
In parallel, the Fiscal Information and Investigation Service (FIOD) is carrying out a separate criminal investigation. On Monday, it conducted searches of locations and seized company devices and assets, although no arrests have been made yet.
The case comes alongside the end of the EU MiCA (Markets in Crypto-Assets) regulatory transition period on 1 July 2026. After that date, unauthorized platforms can no longer legally serve EU customers—a situation expected to filter the market, which currently has only around 200 fully licensed firms.
Knaken previously built its public image through sponsorships of Dutch football clubs such as Ajax, Feyenoord, and Sparta Rotterdam, but those partnerships ended before the company collapsed, in line with Knaken’s acknowledgment in its 2024 annual financial report that its financial position was precarious.
Source:
Decrypt . co — Dutch Prosecutors Seek to Bankrupt Crypto Platform Knaken After Funds Frozen
The platform operates without a license from the Netherlands market regulator (AFM) required under EU crypto rules, despite offering euro-to-crypto exchange services, trading, and digital asset storage.
Although the company claims to have halted operations and is in the process of liquidation, the prosecutor says the process is not properly conducted, raising concerns including an allegation that Knaken instructed customers not to file claims for compensation.
If the court grants this request, the court-appointed trustee will take over Knaken’s assets to determine distributions to customers and creditors.
In parallel, the Fiscal Information and Investigation Service (FIOD) is carrying out a separate criminal investigation. On Monday, it conducted searches of locations and seized company devices and assets, although no arrests have been made yet.
The case comes alongside the end of the EU MiCA (Markets in Crypto-Assets) regulatory transition period on 1 July 2026. After that date, unauthorized platforms can no longer legally serve EU customers—a situation expected to filter the market, which currently has only around 200 fully licensed firms.
Knaken previously built its public image through sponsorships of Dutch football clubs such as Ajax, Feyenoord, and Sparta Rotterdam, but those partnerships ended before the company collapsed, in line with Knaken’s acknowledgment in its 2024 annual financial report that its financial position was precarious.
Source:
Decrypt . co — Dutch Prosecutors Seek to Bankrupt Crypto Platform Knaken After Funds Frozen