BlockBeats News, August 18, Peer-to-peer cryptocurrency exchange NoOnes announced yesterday that it will gradually shut down its operations after operating for over three years. The official statement indicated that efforts had been made previously to seek a resolution and lift sanctions against NoOnes, but ultimately without success.

NoOnes stated that the sanctions had led to the loss of key partners and that blockchain surveillance agencies had flagged transactions involving NoOnes as high risk, making it increasingly difficult for the platform to continue its normal operations.

According to the official plan, the business contraction was initiated on August 17, and the P2P market will close on August 21 at 23:59 UTC. Services such as Swap, NoOnes Visa, fiat withdrawals, gift card shops, and the Bitcoin Lightning Network will also be gradually suspended. Subsequently, the platform will transition to supporting only withdrawals, allowing users to still log in, check their balances, and withdraw remaining assets.

The official recommendation is for users to complete their asset withdrawals as soon as possible, no later than August 23.

BlockBeats previously reported that on January 26, 2025, the peer-to-peer cryptocurrency exchange NoOnes disclosed that earlier this month, the platform experienced a significant security breach resulting in approximately $8 million in crypto asset losses. CEO Ray Youssef confirmed this information after the hack was revealed by blockchain sleuth ZachXBT on his Telegram channel.