Dutch Prosecutors Sell $2.5M Crypto From Bankrupt Knaken

This sets a notable precedent for how crypto insolvencies are handled in the Netherlands: because Knaken held the coins in its own name, customers are treated as unsecured euro creditors rather than as owners of the underlying assets. That distinction is the whole story for anyone who assumed self-custody-adjacent protections at a platform. The open question is whether this trustee approach becomes the template for other Dutch crypto bankruptcies, and how it shapes creditor recoveries.