Knaken creditors face €2.2M recovery pool

• Dutch prosecutors sold Knaken’s remaining cryptocurrency for €2.2 million after the platform went bankrupt.
• About 6,300 customers may have claims estimated at €10 million–€12 million.
• The trustee warned that recoveries could remain limited after bankruptcy costs and creditor priorities.

Dutch prosecutors sold Knaken’s remaining cryptocurrency for €2.2 million after the platform went bankrupt.

The sale created the bankruptcy estate’s first known pool of funds for creditor claims.

“Every order placed via Knaken is executed at our liquidity provider,” Knaken owner Ronald J. said.

Trustee Carl Hamm contacted about 6,300 customers and estimated their claims at €10 million–€12 million.

The €2.2 million proceeds cover only part of those claims before bankruptcy costs and creditor priorities.

Knaken was declared bankrupt on 16 July after prosecutors alleged that €7 million remained unaccounted for.

Hamm is reviewing the company’s assets and liabilities, while prosecutors continue investigating possible offences linked to its finances.