Our response to the bankruptcy of Knaken

We were sorry to learn that Knaken has been declared bankrupt. This is a very unfortunate situation for the customers affected. Whenever people lose access to their funds or face uncertainty about them, it undermines confidence in the wider bitcoin and digital asset industry. We hope that affected customers receive clarity as soon as possible and that their interests are carefully protected throughout the insolvency proceedings.

Unfortunately, this is not the first time the industry has experienced a situation like this. While the underlying technology is resilient, customers ultimately rely on service providers to safeguard their funds and provide their services in a responsible manner.

To our customers

We understand that this news can be worrying and may raise questions, so we want to be very clear: You are in safe hands.

Since our beginning in 2012, Bitonic has been built on a completely different philosophy. We don’t take shortcuts. Our focus has always been on long term stability rather than trying to grow too fast through risky moves.

We also want to emphasise that your security is our absolute priority. We have spent years building a self-sovereign, professional and transparent platform, aimed at preventing the kind of management failures we are seeing elsewhere. You can continue to trust that your assets are handled with the highest standards of care.

Looking ahead

The Knaken situation underlines the importance of a trustworthy and well-regulated industry. We hope this case contributes to further strengthening consumer protection and confidence in the bitcoin and digital asset sector.

For anyone looking for a reliable service provider as a result of these developments, we are available to answer questions and provide insight into how we approach security, privacy, risk management and the protection of customer assets.

Supervision statement

Bitonic is authorised under the European Markets in Crypto-Assets Regulation (MiCAR). We are supervised by the Dutch Authority for the Financial Markets (AFM) for conduct supervision and by De Nederlandsche Bank (DNB) for prudential supervision.