“Today, Paxful will be suspending its marketplace. We are not sure if it will come back.”<\/p><\/blockquote>\n
Youssef said he couldn't share further details about the reasons behind the suspension decision. However, he mentioned that there had been some critical staff resignations.<\/p>\n
What happens to funds?<\/h2>\n
According to the note, the Paxful Wallet will remain active to allow customers to retrieve their funds, which are “all accounted for.” The message advised users to self-custody after withdrawing and suggested Exodus Wallet and Muun Wallet as safe options.<\/p>\n
Youssef said the main priority is to maintain the safeguarding of customer funds. Paxos offered easy migration options to other peer-to-peer platforms for non-US users to ensure they could retrieve their funds quickly and safely.<\/p>\n","protected":false},"excerpt":{"rendered":"
Peer-to-peer exchange Paxful announced it is suspending its marketplace, according to a written message by its CEO, Ray Youssef. A screenshot of the message was shared by crypto influencer @callebtc. The message stated: “Today, Paxful will be suspending its marketplace. We are not sure if it will come back.” Youssef said he couldn’t share further […]<\/p>\n","protected":false},"author":1262,"featured_media":314966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,77968],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\n
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