Key Points:

• The Paxful Bitcoin trade has returned after over a month of conclusion.
• When two founders, Artur Schaback and Ray Youssef, went to court to take control of the business, Paxful announced a temporary shutdown at the beginning of April.

Peer-to-peer (P2P) bitcoin exchange Paxful is back up and running after being down for more than a month, the company said in an official blog post.

“After a month away, we’re happy to announce that the Paxful marketplace is back online.”

The two co-founders of the largest P2P exchange, Paxful, fought for control of the business when they accused each other of the case, as previously discussed in previous Coincu News articles.

Reports that their relationship had been troubled for some time and that the business had experienced a significant decline in management professionalism have been supported by numerous former employees.

 

 

 

 

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As per Schaback, Paxful is a likewise a presently claimed by a manager head of Paxful. According to court documents, these organizations are accused of being responsible for “significant non-traditional transactions” that began shortly after Schaback’s access to the company’s operations was restricted. Schabeck claimed in the lawsuit that a significant amount of the company’s bitcoin was transferred to an organization that was not a legitimate software company in Turkey called “EMiR.” Dekslektika, which was previously operated by Paxful and is based in St. Petersburg, Russia, is a purported subcontractor allegedly.

Youssef, who was charged, said that the accusations were about Schaback’s refusal to pay a Turkish engineering company that was hired by this company, which led to the 80 engineers in the team quitting their jobs. Youssef stated that Schaback couldn’t stay with the company because his team was about to leave.

The Paxful wallet remains completely accessible to users during the suspension, and they can also continue trading on one of several peer-to-peer platforms.

CEO Ray Youssef expressed concern regarding the safety of customer assets in light of the litigation brought by co-founder Artur Schaback, who is suing Youssef and the company for, among other things, wrongful termination.