Paxful.com -

Founded in 2015 by Ray Youssef and Artur Schaback, Paxful aimed to provide financial inclusion for the "unbanked".

: 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.

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

: The company stated that the costs associated with remediation and compliance efforts became unsustainable. Background and Original Mission

Paxful was once a prominent global peer-to-peer (P2P) cryptocurrency marketplace, but it has officially . Closure and Status Founded in 2015 by Ray Youssef and Artur

: Paxful was fined $3.5 million by FinCEN in December 2025 for "facilitating money laundering" and failing to maintain proper Anti-Money Laundering (AML) protocols.

: Management referenced the "impact of historic misconduct" by former co-founders prior to 2023. Background and Original Mission Paxful was once a

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