Post by Augustine Chiagozie (@pabloexchange)

🏦 Dutch crypto exchange Knaken declared bankrupt over €7M shortfall

Dutch crypto exchange Knaken has been declared bankrupt after prosecutors alleged approximately €7 million in customer funds had gone missing.

A criminal investigation is now underway into the alleged shortfall. No further details on how the funds disappeared have been confirmed publicly.

The collapse is another reminder of custodial risk when holding funds on centralised exchanges — a concern that has grown globally following several high-profile exchange failures in recent years.

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