After being offline for a month due to a legal dispute between its co-founders, Paxful, a peer-to-peer Bitcoin exchange, has returned and running in the cryptocurrency space.
Paxful announced the news on the company’s official website in a blog post, expressing its happiness, stating, “After a month away, we’re happy to announce that the Paxful marketplace is back online.”
The P2P Bitcoin exchange was shut down in April following a lawsuit filed by one of its co-founders, Artur Schaback, against the then-CEO, Ray Youssef, and another co-founder in January 2023.
On April 10, a Delaware Chancery Court judge authorized a legal custodian to oversee Paxful withdrawals in order to protect consumer assets. Paxful added in a blog post, “In early April, we faced a difficult decision to temporarily suspend the marketplace to protect all of our customers and Paxful’s future.”
Since its introduction in 2015, the Paxful has attracted more than 6 million registered users on the trading platform, with a major draw in South America, Africa, and India.
Also read: Weekly Report: Bitcoin Selling Pressure to Spoil Investor Returns
