P2P Marketplace Paxful Suspends Operations

“While I cannot share the full story now, I can say that we unfortunately have had some key staff departures. Also, regulatory challenges for the industry continue to grow, especially in the peer-to-peer market and most heavily in the U.S.””While we work through these issues, we have taken the most secure option and ask you to explore self-custody and trade elsewhere.””All customer funds are all accounted for. Please withdraw them and if you can – self-custody.”According to some Reddit users, “there might have been a Zoom meeting yesterday where it was announced Paxful was shutting down in 8 hours.”Some users still appear to be stuck in unresolved disputes.According to @Pledditor, there might be a “very messy legal battle going on.

Pledditor Thread / Archive
Paxful Reddit
Court Document / Archive

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