Peer-to-peer crypto trading platform NoOnes said it will begin a phased shutdown after operating for more than three years, citing sanctions that it said could not be resolved or lifted. According to the company, those sanctions led to the loss of key partners, while blockchain monitoring firms flagged transactions linked to NoOnes as high risk, making normal operations increasingly difficult.
The wind-down began on Aug. 17. NoOnes said its P2P marketplace will close at 23:59 UTC on Aug. 21. Other services, including Swap, NoOnes Visa, fiat withdrawals, the gift card store, and the Bitcoin Lightning Network, will also be discontinued in stages. After that, the platform will switch to withdrawal-only access, allowing users to log in, check balances, and withdraw remaining assets.
The company urged users to withdraw funds as soon as possible, with Aug. 23 given as the latest date. BlockBeats also noted that NoOnes had previously disclosed a major security breach earlier in January 2025 that resulted in roughly $8 million in crypto losses. CEO Ray Youssef confirmed the incident after on-chain investigator ZachXBT disclosed the hack in his Telegram channel.
Peer-to-peer crypto trading platform NoOnes said on Aug. 18 that it has started a phased shutdown after more than three years in operation.
In a statement published a day earlier, the company said it had continued trying to resolve and lift sanctions imposed on NoOnes, but those efforts were unsuccessful. It said the sanctions caused the loss of key partners, while blockchain monitoring organizations flagged transactions associated with NoOnes as high risk, making it increasingly hard for the platform to keep operating normally.
NoOnes sets timeline for service shutdown
According to the company, the business wind-down began on Aug. 17, and the P2P marketplace will close at 23:59 UTC on Aug. 21.
Swap, NoOnes Visa, fiat withdrawals, the gift card store, and the Bitcoin Lightning Network will also be discontinued in stages. After that, the platform will move to withdrawal-only mode, with users still able to log in, view balances, and withdraw remaining assets.
NoOnes advised users to withdraw their funds as soon as possible, and no later than Aug. 23.
BlockBeats previously reported an earlier security breach
BlockBeats had previously reported that on Jan. 26, 2025, NoOnes disclosed a major security breach earlier that month that led to about $8 million in crypto asset losses.
Chief executive Ray Youssef confirmed the incident after on-chain investigator ZachXBT revealed the hack in his Telegram channel.
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