Ray Youssef, the co-founder of Paxful, has warned to stay off the platform amid complaints of scamming.
As a peer-to-peer (P2P) marketplace, Paxful provides the infrastructure, including moderation, for users to buy and sell cryptocurrency from each other.
Paxful closes, re-opens
The peer-to-peer marketplace closed in April, with Youssef acknowledging the resignation of several key staff members. However, at the time, he remained unwilling to expand on what else was happening behind the scenes.
Weeks later, Youssef said heightening U.S. regulatory pressure was to blame — as he alerted people to the dangers of dealing with U.S.-based financial companies.
“They will confiscate your funds and not even give you a reason because they cannot by law. The system itself is designed to hurt you.”
During this time, he said he was working on unfreezing funds U.S. regulators had seized — his final act as CEO.
On April 21, Youssef announced his resignation from the company — vowing to make
We współpracy z: https://cryptoslate.com/former-paxful-ceo-warns-users-not-to-use-platform-amid-spate-of-scams/
