# Netherlands Knaken crypto exchange bankruptcy > Live situation record from CLSTR: https://clstr.news/situations/knaken-crypto-platform-shutdown > Updated: 2026-08-16T10:39:14.000Z. Sources: 16. Developments: 6. The Rotterdam-based exchange Knaken suffered a technical outage in early June 2026 that locked roughly 30,000 users out of their euro balances and crypto holdings. Regulators noted the platform was not listed on the Dutch AFM register and lacked the MiCA licence required in the EU. The company halted all services on 7 June, and Dutch prosecutors filed for bankruptcy later that month. On 17 July a Rotterdam court declared Knaken bankrupt after prosecutors identified about €7 million of missing customer funds. A raid on the exchange’s premises seized limited assets; the promised separate foundation for client funds never paid out. Judges ruled bankruptcy was the best way to protect the public interest, and customers are expected to recover only a fraction of their deposits. The court’s full judgment, published on 27 July, revealed a larger shortfall than previously disclosed. Active customers claimed over €8.6 million, of which €5-5.5 million was deemed unavailable. A 2020 hack that stole 23 BTC accounted for only a small part of the loss, and the court noted the deficit had been concealed for years. In the same proceedings, a separate claim by a Dutch investor against the algorithmic-trading service Oxido was rejected because the lawsuit targeted a Costa-Rica paper entity rather than the advertised Dutch firm; no evidence was found that the investor had been advised to obtain a Palau digital residency ID to bypass regulations. In August 2026, Dutch prosecutors sold seized cryptocurrency from the platform for €2.2 million to mitigate market fluctuations. However, the court-appointed trustee, Carl Hamm, reported that approximately 6,300 customers had invested or loaned between €10 million and €12 million. Following bankruptcy costs and distributions, the trustee expects a final deficit of approximately €7 million to €7.5 million. ## Timeline ### 2026-08-16: Knaken cryptocurrency sale leaves creditors with massive shortfall Dutch prosecutors sold seized Knaken cryptocurrency for €2.2 million, but creditors face an estimated €7 million shortfall following the platform's bankruptcy. 3 sources. https://clstr.news/cluster/knaken-cryptocurrency-sale-leaves-creditors-with-massive-shortfall ### 2026-07-27: Knaken crypto platform bankruptcy exposes hidden €8.6 million shortfall Dutch court rulings reveal Knaken's hidden €8.6 million crypto deficit and dismiss a Dutch investor's €60 000 loss claim against Oxido due to suing the wrong foreign company. 2 sources. https://clstr.news/cluster/knaken-crypto-platform-bankruptcy-exposes-hidden-86-million-shortfall ### 2026-07-17: Dutch crypto exchange Knaken files for bankruptcy after €7 million customer funds disappear Rotterdam court declares Dutch crypto exchange Knaken bankrupt after €7 million of customer funds vanish, affecting over 30,000 users. 7 sources. https://clstr.news/cluster/dutch-crypto-exchange-knaken-files-for-bankruptcy-after-7-million-customer-funds-disappear ### 2026-06-30: Dutch prosecutors move to bankrupt crypto platform Knaken Dutch prosecutors have petitioned a Rotterdam court to bankrupt crypto platform Knaken, affecting about 30,000 locked‑out users. The move follows licensing violations and a parallel criminal probe, underscoring 2 sources. https://clstr.news/cluster/dutch-prosecutors-move-to-bankrupt-crypto-platform-knaken ### 2026-06-02: Dutch crypto platform Knaken halts operations, leaving customers unable to access funds Dutch crypto platform Knaken has ceased operations after failing to secure a required EU licence, leaving customers unable to access their crypto holdings; the firm plans a mid‑June update on fund handling. 2 sources. https://clstr.news/cluster/dutch-crypto-platform-knaken-halts-operations-leaving-customers-unable-to-access-funds ### 2026-06-01: Netherlands' Knaken crypto platform hit by outage and licensing concerns Knaken, a Dutch crypto exchange, is offline, blocking user access to funds. Regulators note it lacks a licence, and the company promises an update by mid‑June. 2 sources. https://clstr.news/cluster/netherlands-knaken-crypto-platform-hit-by-outage-and-licensing-concerns --- Cite as: Netherlands Knaken crypto exchange bankruptcy. CLSTR, https://clstr.news/situations/knaken-crypto-platform-shutdown