Dutch prosecutors have liquidated all remaining cryptocurrency assets held by bankrupt trading platform Knaken, raising $2.55 million. The court-appointed trustee overseeing the bankruptcy warns that the platform's 6,300 customers are facing severe financial losses, pointing to a gap between what customers deposited and what was recovered.
The liquidation
Prosecutors moved to cash out the platform's remaining digital assets, adding to the funds already recovered from the collapsed exchange. The $2.55 million raised represents the final tranche of crypto holdings tied to Knaken.
The trustee's warning
The trustee said customers face severe financial losses, citing a discrepancy between the deposits made by customers and the assets recovered from the platform. The exact size of the shortfall hasn't been disclosed, but the trustee's language suggests customers won't get their money back in full.
What customers are waiting for
The 6,300 customers have been left in limbo since the platform went under. With the crypto now liquidated, the trustee is expected to determine how the remaining funds will be distributed among creditors. Customers are still waiting to learn how much of their deposits they will recover, a figure that hasn't been provided.
