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P2P Bitcoin Exchange Paxful Resumes Operation After Its Shut Down Last Month

Twitter icon  •  Published 1 year ago  •  Hassan Maishera

P2P exchange Paxful has resumed operations, a month after shutting down due to a misunderstanding between the co-founders.

TL;DR

  • Paxful crypto exchange has resumed operations a few weeks after it shut down.

  • The P2P exchange shut down after the CEO expressed concerns about the safety of customer funds owing to a lawsuit from its co-founder.

Paxful Resumes Operations

Peer-to-peer (P2P) bitcoin exchange Paxful announced via a blog post on Monday that it has resumed operations. 

This latest development comes a month after the crypto exchange shut down operations. In its blog post, the crypto exchange said;

“After a month away, we’re happy to announce that the Paxful marketplace is back online. In early April, we faced a difficult decision to temporarily suspend the marketplace to protect all of our customers and Paxful’s future.

Throughout the suspension the Paxful Wallet remained fully operational for our users and the community was also offered a selection of peer-to-peer platforms to continue trading on.”

Last month, Paxful shut down its operations after CEO Ray Youssef expressed concerns about the safety of customer funds due to the lawsuit by co-founder Artur Schaback. Schaback sued Youssef and Paxful for wrongful termination, amongst other reasons.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.