Announced closure of all operations by the start of November 2025
Press coverage reports that Paxful disclosed on 1 October 2025 that it would close all operations by the start of November 2025 and urged users to withdraw balances before the cut-off. The company is reported to have cited a historical legal case that exposed compliance weaknesses and the cost and legal risk of remediation. The platform had previously suspended operations temporarily in 2023 during a dispute among its founders.
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