Dutch crypto exchange Knaken collapses after 20 BTC hack, clients lose millions
- —The 2020 theft of 20 BTC cost Knaken about €150,000 at the time, but the coins are now worth over €1 million
- —Creditors filed claims worth about €14.5 million, with at least €4 million still missing
- —Around 4,000 customers and more than 300 investors who put in over €1.8 million were affected
- —Customer funds were not properly segregated from company assets until the end of 2022
Why it matters: The case highlights weak oversight of EU crypto exchanges and could push regulators to tighten rules on segregating customer funds.
Source: Newsbit