Crypto holdings company ‘Paxful’ is staring down the barrel of fighting a legal battle backed by financial institution and escrow service, SKYNET Inc, and its subsidiary, SWAPD.
On September 23rd, a SKYNET spokesperson announced that Paxful had placed limitations on their account, resulting in client deposits being frozen, allegedly due to a Terms of Service violation.
In the morning hours of Friday the 24th, Paxful’s Search Engine Marketing has been taken over by pay-per-click ads taking people to SWAPD’s community warning about Paxful, rather than to Paxful’s service.
In support logs shared by SKYNET’s spokesperson, Paxful claims that they do not know when they’ll be able to resolve the matter. This fiasco comes to light a year after Paxful blocked access to thousands of accounts belonging to crypto traders in Nigeria.