Paxful.com Apr 2026

As of , Paxful wound down all core marketplace activities. The site remains accessible for a Limited Service only: allowing existing users to withdraw their remaining digital assets. No new accounts, trades, or transactions are permitted. The company cited several factors for its closure:

: It functioned as a P2P platform where users could buy and sell Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) using over 300 payment methods , including bank transfers, gift cards, and digital wallets.

: The company stated that the costs associated with remediation and compliance efforts became unsustainable. Background and Original Mission paxful.com

Paxful was once a prominent global peer-to-peer (P2P) cryptocurrency marketplace, but it has officially . Closure and Status

: Paxful was fined $3.5 million by FinCEN in December 2025 for "facilitating money laundering" and failing to maintain proper Anti-Money Laundering (AML) protocols. As of , Paxful wound down all core marketplace activities

: Management referenced the "impact of historic misconduct" by former co-founders prior to 2023.

Founded in 2015 by Ray Youssef and Artur Schaback, Paxful aimed to provide financial inclusion for the "unbanked". The company cited several factors for its closure:

: Through its #BuiltWithBitcoin initiative, the company worked to build schools and water wells in emerging markets, funded entirely by cryptocurrency. User Safety and Reputation