Netherlands' Knaken crypto platform hit by outage and licensing concerns

The Rotterdam‑based cryptocurrency exchange Knaken has experienced a technical outage that has blocked users from logging into its website and mobile app, preventing access to their euro balances and crypto holdings. Users report that the disruption has lasted several days, affecting accounts with investments ranging from a few thousand euros to larger sums.

The company has not provided a clear timeline for restoring access, but has announced that an update will be issued by mid‑June. Regulators have raised questions about Knaken’s licensing status: the platform does not appear in the Dutch financial regulator AFM’s register, and the AFM confirmed that Knaken has not yet obtained the required licence under EU MiCAR rules. The firm, founded in 2017 by Ronald Jonkers, previously gained visibility through a sponsorship with the football club Feyenoord and employs around 45 staff. The lack of a licence and the ongoing service interruption have heightened concerns among investors about the safety of their assets.