The sudden closure of Paxful, one of the most popular crypto platforms, has come as an unexpected and distressing surprise for many users. With over $1 billion worth of Bitcoin transactions made via the platform, it had become a globally trusted and respected platform. Unfortunately, in a worrying turn of events, its founder Ray has been redirecting users to another exchange known as 'NoOne's App'. This new platform raises a number of red flags, leaving many users suspicious and concerned that it might be a scam.

If this incident serves one purpose, it is to remind those within the crypto industry to always be aware of the potential dangers and to do thorough research before trusting a platform or making an investment. Whilst Paxful may have had a considerable amount of trust amongst the community, investors and users must realise that there are risks associated with the cryptocurrency space and that they should take every precaution before placing their capital.

Users should be especially aware of the platform they are choosing since the rules of the game have evidently become harder in recent times. Regulatory bodies have taken a very serious view on ICO exit scams, Ponzi schemes and other frauds. With this in mind, exercising the utmost caution before investing is essential if people are to profit from their investments.

Ultimately, investment decisions are personal, and determining whether or not to use NoOne’s App is a decision that each individual should make for themselves. With the proper research and with the added layer of caution for platforms/investments not well established, this is a risk that can be mitigated. As such, users should always be sure to exercise due diligence to protect their investments and guard against potential scams.



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