Paxful Claims to Be Back Up and Operating

Published on:

Last Updated on May 9, 2023 by Bitfinsider

According to co-founder Artur Shaback, the P2P platform Paxful is up and operating and is administered by a Delaware lawyer.

Paxful announced on its website, “After a month away, we’re happy to announce that the Paxful marketplace is back online.”

The platform was shut down in April after the company disintegrated, and Shaback sued co-founder Ray Youssef, who eventually stepped down as CEO. Shaback told Bitfinsider that he might try to reach an agreement with Youssef, who has accused him of being greedy.

Youssef recently informed Bitfinsider that Paxful chose to terminate the company in November because to legal ambiguity in the United States. It was one of several enterprises harmed by a regulatory environment in the United States that includes enforcement proceedings against exchanges and lawsuits from regulatory bodies.

“The Paxful Wallet remained fully operational for our users throughout the suspension, and the community was also offered a selection of peer-to-peer platforms to continue trading on,” the note read. “Over the last month, our team has worked tirelessly to bring the marketplace back online while keeping user safety and security in mind.”

Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.