🔥 Dutch Prosecutors Sell $2.5M of Crypto From Bankrupt Platform Knaken.
Source: Decrypt/ShutterstockCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Dutch prosecutors have sold the cryptocurrency seized from Knaken, a collapsed Dutch crypto platform, raising $2.5 million (2.2 million) for creditors. The trustee estimates customers put in $12 million to $14 million, and says the sale proceeds are currently the only money in the estate. A lawyer for one affected customer has questioned whether prosecutors were entitled to sell the holdings at all. The Dutch Public Prosecution Service has sold the cryptocurrency it seized from Knaken, raising $2.5 million (2.2 million) toward paying the collapsed platform's creditors, according to court-appointed trustee Carl Hamm.
Knaken let customers in the Netherlands buy, trade and store cryptocurrency through an app, operating without the license the country's markets regulator requires. It went offline in early June, and a Rotterdam court declared it bankrupt on July 16 after prosecutors sought the winding-up in the public interest. Hamm estimates customers put in $12 million to $14 million (10 million to 12 million), and told local broadcaster Rijnmond the sale proceeds are currently the only money in the bankruptcy estate. He has written to about 6,300 customers telling them to temper expectations.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#SECryptoRegulation #AICryptoIntegration #CryptoMarkets
Source: Decrypt/ShutterstockCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Dutch prosecutors have sold the cryptocurrency seized from Knaken, a collapsed Dutch crypto platform, raising $2.5 million (2.2 million) for creditors. The trustee estimates customers put in $12 million to $14 million, and says the sale proceeds are currently the only money in the estate. A lawyer for one affected customer has questioned whether prosecutors were entitled to sell the holdings at all. The Dutch Public Prosecution Service has sold the cryptocurrency it seized from Knaken, raising $2.5 million (2.2 million) toward paying the collapsed platform's creditors, according to court-appointed trustee Carl Hamm.
Knaken let customers in the Netherlands buy, trade and store cryptocurrency through an app, operating without the license the country's markets regulator requires. It went offline in early June, and a Rotterdam court declared it bankrupt on July 16 after prosecutors sought the winding-up in the public interest. Hamm estimates customers put in $12 million to $14 million (10 million to 12 million), and told local broadcaster Rijnmond the sale proceeds are currently the only money in the bankruptcy estate. He has written to about 6,300 customers telling them to temper expectations.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#SECryptoRegulation #AICryptoIntegration #CryptoMarkets