Paxful suspends their Marketplace

[EL MOHA]

After so many weeks of struggling to allow withdrawals Paxful has officially suspends its marketplace and has advice it’s customers to withdraw their funds immediately from the exchange.

This is definitely a bad news to many especially Africans who were the major customers on this exchange. Is this the right time to ditch Centralized exchanges for decentralized one’s totally?


https://twitter.com/pledditor/status/1643243489528889348?s=46&t=QdZ3_ryvESgybupE3D6xaQ

[pawel7777]

That's a shame, but is there any official source of that info? You linked only a snippet and a tweet from unrelated twitter account.

You would expect to see any (pop-up) message on their website, but there's nothing there: https://paxful.com/

I've never used their service but was familiar with the name. If they operate in the US, I can understand they might have been a bit worried considering the recent crack-down on crypto.

[cytpoway121]

After so many weeks of struggling to allow withdrawals Paxful has officially suspends its marketplace and has advice it’s customers to withdraw their funds immediately from the exchange.

This is definitely a bad news to many especially Africans who were the major customers on this exchange. Is this the right time to ditch Centralized exchanges for decentralized one’s totally?


https://twitter.com/pledditor/status/1643243489528889348?s=46&t=QdZ3_ryvESgybupE3D6xaQ

Well, One news is that Paxful is back and running as they have resumed operations for couple of weeks now. Same website!!!
Also, all funds and debts were restored to user accounnts.

[Darker45]

~snip~

Well, One news is that Paxful is back and running as they have resumed operations for couple of weeks now. Same website!!!
Also, all funds and debts were restored to user accounnts.

It seems you haven't been updated with the latest development on this. Or is there something I'm clueless about?

What I know is that Ray has already left Paxful several months ago. When he issued this message in April, he was still the CEO of Paxful. Although it was already apparent even this early, with his recommendation of Noones, that he'll be leaving the platform soon.

Apparently, the legal battle that he fought against Paxful's co-founder Artur Schaback, which he kicked out earlier, isn't turning in his favor. As early as May, Paxful has already resumed its operation. However, this was already under Schaback, if I'm not mistaken. Ray has already left and is even making bad statements against it.

[pawel7777]

It seems you haven't been updated with the latest development on this. Or is there something I'm clueless about?

What I know is that Ray has already left Paxful several months ago. When he issued this message in April, he was still the CEO of Paxful. Although it was already apparent even this early, with his recommendation of Noones, that he'll be leaving the platform soon.

Apparently, the legal battle that he fought against Paxful's co-founder Artur Schaback, which he kicked out earlier, isn't turning in his favor. As early as May, Paxful has already resumed its operation. However, this was already under Schaback, if I'm not mistaken. Ray has already left and is even making bad statements against it.

So the guy knew he was on his way out and just decided to stab his soon-to-be-former company in the back? Pretty crappy behaviour that could (and likely did) result in unnecessary panic among their customers.
If he had a problem with other people in charge, he could just go to court without resorting to public drama.
Anyhow, looks like it's all in the past, the site is live and the latest news relating to Paxful are from May, saying their back online after temporary suspension.

[Darker45]

~snip~

So the guy knew he was on his way out and just decided to stab his soon-to-be-former company in the back? Pretty crappy behaviour that could (and likely did) result in unnecessary panic among their customers.
If he had a problem with other people in charge, he could just go to court without resorting to public drama.
Anyhow, looks like it's all in the past, the site is live and the latest news relating to Paxful are from May, saying their back online after temporary suspension.

He probably had an inkling. Hence, Noones and the fact that Paxful log in details could be used for Noones. And this announcement of a new platform was already included in the announcement of the suspension of Paxful.

Stab in the back could be what happened. He tried to fight for Paxful but he was also ready with his own life boat at the same time, in case the ship sinks. And when his co-founder took over Paxful, he attacked it.

Yeah, this is all in the past, but Paxful was never the same Paxful after all the drama. It came back but scathed.