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Dutch prosecutors seek Knaken bankruptcy after platform outage strands 30,000 customers

Dutch prosecutors seek Knaken bankruptcy after platform outage strands 30,000 customers

The request targets Knaken and Stichting Knaken Payments after the crypto platform halted operations in early June, while a separate criminal investigation has led to searches and asset seizures.

Fact Check
The official OM press release (om.nl) directly confirms prosecutors asked the Rotterdam court to declare Knaken Cryptohandel B.V. and Stichting Knaken Payments bankrupt, and that the FIOD conducted searches on June 29 seizing devices and assets with no arrests. NL Times and DutchNews independently corroborate the ~30,000 stranded customers and the early-June platform halt. Every component of the claim is supported by a primary government source and credible independent reporting.
Summary

Dutch public prosecutors have asked a Rotterdam court to declare crypto platform Knaken and affiliated payment institution Stichting Knaken Payments bankrupt in what they described as the public interest, after the platform halted operations in early June and left about 30,000 users unable to access assets. The case combines insolvency action with a parallel criminal investigation: prosecutors said they also opened a criminal probe, searched premises on Monday, and seized equipment and assets. The move matters because a bankruptcy process can centralize claims and oversight when customers are locked out of a platform, while the criminal investigation suggests authorities are also examining potential misconduct or financial irregularities.

Terms & Concepts
  • bankrupt: A legal state in which a court may place an insolvent business into proceedings to manage debts and claims.