Dutch prosecutors suspect Knaken crypto executives of embezzlement
- —Two Rotterdam homes searched; phones and data carriers seized
- —Prosecutors estimate roughly €7 million in customer funds is missing
- —Knaken lost its AFM licence and could not fully repay clients
- —A Rotterdam court declared the company bankrupt in July; operations have ceased
Why it matters: The case highlights custody risks at unlicensed platforms and adds pressure for stricter crypto regulation in the EU.
Source: Newsbit