{"id":76687,"date":"2023-04-04T17:41:06","date_gmt":"2023-04-04T14:41:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76687"},"modified":"2025-09-10T18:51:08","modified_gmt":"2025-09-10T15:51:08","slug":"paxful-chief-announces-closure-of-trading-platform","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/paxful-chief-announces-closure-of-trading-platform\/","title":{"rendered":"Paxful chief announces closure of trading platform"},"content":{"rendered":"<p>A screenshot of a message from the purported Paxful CEO Ray Youssef about the closure of the P2P platform for cryptocurrency trading was posted on Twitter.<\/p>\n<blockquote class='twitter-tweet' data-lang='en'>\n<p dir='ltr' lang='en'>Crypto exchange <a href='https:\/\/twitter.com\/paxful?ref_src=twsrc%5Etfw'>@paxful<\/a> just suspended their marketplace <a href='https:\/\/t.co\/JRFwUuePN3'>pic.twitter.com\/JRFwUuePN3<\/a><\/p>\n<p>\u2014 Pledditor (@Pledditor) <a href='https:\/\/twitter.com\/Pledditor\/status\/1643243489528889348?ref_src=twsrc%5Etfw'>April 4, 2023<\/a><\/p><\/blockquote>\n<p> <script async='' src='https:\/\/platform.twitter.com\/widgets.js' charset='utf-8'><\/script><\/p>\n<div class='wp-block-text-wrappers-update-2 article_update'><time class='gtb_text-wrappers_update_time'>April 4, 2023 | 19:07<\/time><span class='gtb_text-wrappers_update_head'>Update: <\/span><\/p>\n<p>A message from Ray Youssef is posted on one of Paxful&#8217;s website pages. It states:<\/p>\n<blockquote class='wp-block-quote is-layout-flow wp-block-quote-is-layout-flow'>\n<p>&ldquo;This will likely come as a big shock to many. While I can&#8217;t share the full story right now, I can say that, unfortunately, some key staff have left us.&rdquo;<\/p>\n<\/blockquote>\n<p>Youssef also cited regulatory issues, &quot;in particular in the P2P segment and especially in the United States&quot;.<\/p>\n<p>According to him, users will be able to withdraw funds from the Paxful Wallet. The head of the company also recommended &quot;explore the possibility of non-custodial storage of assets and trading somewhere else.&quot;<\/p>\n<div class='wp-block-text-wrappers-update-2 article_update'><time class='gtb_text-wrappers_update_time'>April 10, 2023 | 16:12<\/time><span class='gtb_text-wrappers_update_head'>Update: <\/span><\/p>\n<p>Representatives of Paxful said that current users &quot;are a priority&quot; for the platform, so new registrations are currently not being processed.<\/p>\n<blockquote class='twitter-tweet'>\n<p lang='en' dir='ltr'>An update from <a href='https:\/\/twitter.com\/paxful?ref_src=twsrc%5Etfw'>@paxful<\/a> <a href='https:\/\/t.co\/X3eN5OcKrT'>pic.twitter.com\/X3eN5OcKrT<\/a><\/p>\n<p>\u2014 Paxful (@paxful) <a href='https:\/\/twitter.com\/paxful\/status\/1645411315614187521?ref_src=twsrc%5Etfw'>April 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async src='https:\/\/platform.twitter.com\/widgets.js' charset='utf-8'><\/script>\n<\/div>\n<\/div>\n<p>As of writing, the platform&#8217;s interface is operational, but trading is suspended. Access to wallets is also closed.<\/p>\n<figure class='wp-block-image'><img decoding='async' src='https:\/\/lh3.googleusercontent.com\/LMDGquldbzzZIHaaAFbGoWBzMFTLm0v36G5v2ogv0QaOXeCquEjVveHtNyruJp1Kf3QAenfVAtl36ozotiyfurhzpyWziWTQUuTZB1u6Rube8tESU03lgEn97GQj7M6MQyd7ybFQXjIOZL8qPZNIbB4' alt='\u0413\u043b\u0430\u0432\u0430 Paxful \u043e\u0431\u044a\u044f\u0432\u0438\u043b \u043e \u0437\u0430\u043a\u0440\u044b\u0442\u0438\u0438 \u0442\u043e\u0440\u0433\u043e\u0432\u043e\u0439 \u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c\u044b'\/><figcaption>Data: Paxful.<\/figcaption><\/figure>\n<p>One user complained that they had not been able to withdraw funds for 24 hours. The platform&#8217;s team assured him that they are working on a solution to &quot;this particular issue&quot;.<\/p>\n<blockquote class='twitter-tweet' data-lang='en'>\n<p dir='ltr' lang='en'>Our team is already working on resolving this particular issue, <a href='https:\/\/twitter.com\/ola4doyin?ref_src=twsrc%5Etfw'>@ola4doyin<\/a>. For real-time updates, please visit <a href='https:\/\/t.co\/c6lzxTQLLe'>https:\/\/t.co\/c6lzxTQLLe<\/a>. Thank you for your patience.<\/p>\n<p>\u2014 Paxful (@paxful) <a href='https:\/\/twitter.com\/paxful\/status\/1643222297682010112?ref_src=twsrc%5Etfw'>April 4, 2023<\/a><\/p><\/blockquote>\n<p> <script async src='https:\/\/platform.twitter.com\/widgets.js' charset='utf-8'><\/script><\/p>\n<p>As a reminder, in September 2022 Paxful <a href=\"https:\/\/forklog.com\/en\/news\/paxful-integrates-lightning-network\">integrated<\/a> the micropayment protocol on Bitcoin&#8217;s <a href=\"https:\/\/forklog.com\/en\/news\/lightning-network-faster-cheaper-bitcoin-transactions\">Lightning Network<\/a>.<\/p>\n<p>In December, Ray Youssef criticized Ethereum and <a href=\"https:\/\/forklog.com\/en\/news\/paxful-ceo-criticises-ethereum-and-announces-delisting-of-the-asset\">announced the delisting<\/a> of the cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A screenshot of a message from the purported Paxful CEO Ray Youssef about the closure of the P2P platform for cryptocurrency trading was posted on Twitter.<\/p>\n","protected":false},"author":1,"featured_media":76688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1526],"class_list":["post-76687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-paxful"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=76687"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76687\/revisions"}],"predecessor-version":[{"id":76689,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76687\/revisions\/76689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/76688"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=76687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=76687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=76687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}