As you know, there’s nothing higher on our list of priorities than the safety of our users. We take security very seriously here at Paxful and our Compliance team ensures that nothing slips through the cracks. That way, you can trade knowing that your account and funds are fully protected.

Recently, we observed a large number of attempted outgoing transactions over the course of several hours that appear to be headed for two high-risk entities that have been determined to be involved with possible scams. Our team was able to catch this and had the information confirmed by a leading industry expert in blockchain analytics and cryptocurrency-related crimes. For the safety of any users that may have been affected by this, we’ve blocked the attempted transactions and placed a temporary freeze on any affected accounts.

In order to unfreeze the aforementioned accounts, our team will need to verify that they have not been compromised and that the account owners are in full control of their own accounts. These state-of-the-art controls have been implemented to protect our users from such instances. As a reminder, Bitcoin transactions are irreversible and we advise that Paxful users do not continue making transactions with these entities, as it may lead to a loss of funds.

Paxful is fully committed to taking every measure necessary to protect our community. Please remember to stay sharp and regularly read through our Help Center to learn more about safeguarding your account.