Dutch court declares crypto platform Knaken bankrupt over mi|Cointele…

Dutch court declared crypto platform Knaken bankrupt after €7 million in customer assets went missing. The Rotterdam court ruled bankruptcy necessary to ensure orderly settlement as the company lacked sufficient assets to repay users. If you're building a crypto exchange or custody platform in Europe, this ruling signals that national courts now treat missing customer funds as grounds for immediate bankruptcy—not civil recovery. You need segregated custody, real-time proof-of-reserves, and insurance before you launch in any EU jurisdiction.