68499 USD
Paxful
Paxful
Paxful was a peer-to-peer (P2P) cryptocurrency trading marketplace best known for enabling users to buy and sell crypto directly with one another (typically using an escrow model) and for supporting a large number of payment methods. The company states it was founded in 2015 and, over its operating history, connected 14+ million users across 140+ countries. (paxful.com)
What Paxful did
- Operated a P2P marketplace where users could trade cryptocurrencies (the company described support for Bitcoin and USDT among others) and complete trades using many payment rails (the company described “400+ payment methods”). (paxful.com)
- Marketed itself as a “people-powered marketplace” and positioned the service as a tool for broader access to financial services in markets with limited traditional banking coverage. (paxful.com)
Operational status (shutdown / wind-down)
- Paxful’s official site states that Paxful has shut down and instructs users to withdraw funds. (paxful.com)
- In an October 1, 2025 announcement, Paxful said it would wind down operations by November 1, 2025, citing historic misconduct by former co-founders (prior to 2023) and compliance-remediation costs, while stating the decision was not due to insolvency. (paxful.com)
Notable regulatory and legal developments (U.S.)
- FinCEN (U.S. Treasury) announced a $3.5 million civil money penalty (Dec. 9, 2025) against Paxful, Inc. and Paxful USA, Inc., alleging willful Bank Secrecy Act violations and stating the platform facilitated more than $500 million in suspicious activity. (fincen.gov)
- The U.S. Department of Justice announced (Dec. 10, 2025) that Paxful Holdings Inc. agreed to plead guilty to federal criminal charges and to pay a $4 million criminal penalty (with sentencing scheduled for Feb. 10, 2026). (justice.gov)
- Paxful previously suspended operations in April 2023, with contemporaneous reporting attributing the suspension to staff departures and regulatory challenges. (investing.com)
Founding
- Paxful was co-founded in 2015 by Ray Youssef and Artur Schaback, according to third-party business references. (golden.com)
Official web and social presence (as provided)
- Website: https://paxful.com (paxful.com)
- X (Twitter) account handle: @paxful (the handle is referenced by Paxful-affiliated community posts warning about impersonation). (reddit.com)
Related Bitcoin addresses:
Total 55 273 addresses.