Paxful, a peer-to-peer Bitcoin exchange with 1.5 million customers in Nigeria, has announced that it is ceasing operations.” According to Decrypt, Youssef said during a Twitter Space that a lawsuit filed by a Paxful co-founder who is suing Paxful and Youssef after being “kicked out of the firm” over a year ago also had an impact on the decision to shut down the site.”
Peer-to-peer technology usage in Nigeria is ascribed to Paxful as having started the country’s crypto business there.