Administrators of Coinhouse.eu embezzled €125,492 in customer crypto

Two administrators of the Dutch cryptocurrency exchange Coinhouse.eu have embezzled at least €125,492 in cryptocurrencies from customers, ruled the Overijssel Court on September 22. The administrators had control over the cryptocurrencies that users had entrusted to Coinhouse.eu and transferred them to their own wallets without permission. In 2018, they disabled the withdrawal function, preventing customers from withdrawing their coins while deposits remained possible. The court qualifies this as embezzlement, as the events took place more than eight years ago. The suspects initially had legitimate access to the coins but unlawfully appropriated the customer funds. The ruling emphasizes that administrators of trading platforms cannot freely dispose of customer crypto, even when they manage access to the wallets themselves.

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