Cryptocurrency

Paxful suspends marketplace

Peer-to-peer exchange Paxful has announced that it will suspend its marketplace, according to a written message from CEO Ray Youssef.

screenshot of the message share By crypto influencer @callebtc. The message said:

“Today Paxful is suspending its marketplace.

Youssef said he could not share further details about the reasons behind the suspension decision. However, he said there have been some key staff resignations.

What will happen to the funds?

According to the note, the Paxful wallet remains active and allows customers to withdraw their funds. The message advised users to self-manage after withdrawals and suggested Exodus Wallet and Muun Wallet as safe options.

Youssef said the top priority is to keep customers’ funds protected. Paxos provided easy migration options to other peer-to-peer platforms for non-US users to retrieve their funds quickly and securely.

The post about Paxful suspending its marketplace first appeared on CryptoSlate.

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