Paxful is reopened one month after the marketplace has been suspended

Paxful is reopened one month after the marketplace has been suspended
The popular peer-to-peer (P2P) marketplace Paxful is online again in April 2023.
while the platform was exposed, the Paxful Wallet remained active.
- Paxful announced in a blog post dated May 8, the resumption of the marketplace one month after the platform was closed. An extract from the announcement is:
"We know that it was a difficult time for many of our users that were understandably surprised by the sudden closure, but we are happy to be back so that we can continue to serve millions of people without financial access."
- As already reported by cryptopotato , the Bitcoin P2P marketplace was closed in April 2023, while the wallet remained in operation. Before the problems of the platform came to light, Paxful was one of the best-known P2P marketplaces in the industry with over six million users worldwide.
- The co-founder and former CEO of Paxful, Ray Youssef, meanwhile gave regulatory hurdles for the P2P market as the reason for closing the marketplace.
- Youssef also cited the departure of important employees and added that a legal dispute between him and another co -founder, Artur Schaback, also contributed to the forced closing of the company. Youssef described the legal dispute of Schaaback as "evil" and explained that the manager had sued both the former CEO and the company because it was upset.
- Shortly after Paxful was suspended, Youssef said that he was working on reimbursing customers out of his pocket to avoid prison.
- Before reviving the marketplace, Paxful was able to unlock 88 % of the customer accounts, while 3 % were still closed.
- On April 18, the CEO announced this Cancellation from the top position.
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