Peer-to-peer cryptocurrency marketplace Paxful has announced it is back online after suspending operations in April.
In an update posted to its website, Paxful said its team relaunched the marketplace after more than 30 days. While the platform said its wallet "remains fully operational" during the suspension, it's unclear how Paxful intends to move forward.
“Over the past month, our teams have been working hard to bring the marketplace back online with the safety and security of our users as our top priority,” Paxful said. Court records in March show that Paxful CEO Ray Youssef and co-founder Artur Schaback traded accusations over embezzlement of company funds, money laundering and evasion of US sanctions on Russia before suspending market operations. Youssef later said in a blog post that there would be "key employee departures" and blamed the US regulatory environment ment for his shutdown.
The platform has remained largely silent on social media since the announcement, with Yusuf saying in April that he had taken a "final act" as CEO, unfreezing 88% of certain user accounts -- Although he is still listed as CEO on the company website at the time of publication. Cointelegraph reached out to Paxful but did not immediately hear back. During Paxful's suspension of service, Youssef reportedly reached out to Block's TBD unit as part of his efforts to launch a peer-to-peer cryptocurrency trading platform form called Civilization Kit, or Civ Kit. According to its white paper, Civ Kit will be built on top of Nostr, a decentralized network that supports encrypted end-to-end private messaging.
