Paxful CEO Ray Youssef has announced that 88% of user accounts on the P2P cryptocurrency trading platform have been unblocked.
He has written:
"If your account is still frozen then I am sorry but I have no power to unfreeze those funds and they are in the hands of the US regulators. I have no access and have never had access to customer funds."
According to him, the remainder is "in a hands of a custodian now." This is about 3% of the total amount of client assets.
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Last April 4, it became known about the closure of the trading platform. At that time, the site interface was working, but transactions and access to wallets were suspended.
Later, journalists suggested the reason for Paxful's closure was the stalled legal dispute between its co-founders Arthur Shabak and Ray Youssef.
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The platform launched a B2B service in 2021 that allows traders to accept Bitcoin payments in many ways.