Paxful says it's back up and running, led by a Delaware lawyer

Quick Take

  • The P2P platform is back up and running, according to co-founder Artur Shaback.

P2P platform Paxful is up and running and being run by a Delaware lawyer, co-founder Artur Shaback said. 

Paxful posted a note online saying, "After a month away, we’re happy to announce that the Paxful marketplace is back online."

The platform shuttered in April as the company imploded and Shaback sued co-founder Ray Youssef, who later stepped down from being the chief executive officer. Shaback told The Block he may seek a settlement with Youssef, who has accused his former partner of being greedy.

Youssef didn't immediately respond to a request for comment.


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Youssef had recently told The Block that because of U.S. legal uncertainty, Paxful had decided in November to dissolve the company. It was one of several companies impacted by a regulatory climate in the U.S. that has enforcement actions against exchanges and lawsuits from oversight agencies. 

"Throughout the suspension the Paxful Wallet remained fully operational for our users and the community were also offered a selection of peer-to-peer platforms to continue trading on," the note said. "Over the last month, our team has worked diligently to get the marketplace back online with the safety and security of users paramount."

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Christiana is a long-time journalist who has written about markets in the Americas, politicians who stashed cash in their underwear and high-end heels, to name just a few. She previously spent six years at Bloomberg, and her work has appeared in the WSJ, LA Times, Insider, Vogue Business and more. Christiana has a bachelor's degree in English from Pace University and a master's degree in journalism from New York University. She completed a master's degree in media psychology for fun.


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