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Paxful Back Online after Temporary Hiatus

Peer-to-Peer Cryptocurrency exchange platform, Paxful has resumed operations after being shut down for more than a month.

The firm commented, “We’re happy to announce that the Paxful marketplace is back online after a month away.” Early in April, we had to make the tough choice to temporarily shut down the market in order to safeguard all of our clients and the future of Paxful.

Artur Schaback, a co-founder who sued CEO Ray Youssef and the company for, among other things, wrongful termination, raised concerns about the protection of customer funds, causing Paxful to shut down in April.

According to accounts, the co-founders’ relationship has been strained for some time, and the company has suffered from major breaches in management expertise.

According to Schabeck, who is seeking a settlement and want to leave the firm, Paxful is currently held by a custodian, who also serves as a director alongside Schabeck and Youssef.

“Right now we need the custodian because he’s a tiebreaker; otherwise we’re in a deadlock,” Schabeck told CoinDesk.

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