Paxful Shuts Down Marketplace Amidst Staff Resignations
Paxful, a peer-to-peer exchange, has announced the suspension of its marketplace.
Ray Youssef, the CEO of the company, confirmed this in a written statement. The reason for the suspension has not been disclosed, but Youssef did mention that some crucial staff members have resigned.
A crypto influencer, callebtc, shared a screenshot of the message, which said that the marketplace is being suspended, and it’s unclear whether it will return.
— calle ⚡️ (@callebtc) April 4, 2023
Paxful has stated that customers can retrieve their funds through the Paxful Wallet, which will remain active. Youssef emphasized the importance of ensuring the safety of customer funds and recommended that customers store their funds in self-custody after withdrawal.
He also suggested two safe wallet options, Exodus Wallet and Muun Wallet, for customers to consider.
To help non-US users retrieve their funds quickly and safely, Paxful has offered easy migration options to other peer-to-peer platforms. Paxful aims to prioritize the safeguarding of customer funds during this period.