: 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".

While popular, the platform faced significant criticism throughout its lifespan:

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

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.

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