NoOnes, a peer-to-peer Bitcoin marketplace founded by former Paxful CEO Ray Youssef, has allegedly been targeted in a significant security breach, resulting in the loss of approximately $7.9 million from its hot wallets.
On-chain investigator ZachXBT reported the exploit in a January 24 Telegram post, stating that funds were siphoned from wallets spanning Ethereum, TRON, Solana, and BNB Chain. The stolen assets were reportedly broken into smaller transactions, each under $7,000, before being bridged between Ethereum and BNB Chain. The funds were subsequently funneled through Tornado Cash.
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The timing of the incident has sparked further scrutiny. Notably, this alleged hack coincides with a scheduled maintenance period announced by NoOnes, raising concerns within the crypto community.
As of now, the platform has not issued a public statement confirming the breach or clarifying the status of user funds.
However, the platform recently addressed a separate issue involving unusual activity on its Solana bridge. In a post on their X account, NoOnes confirmed an exploit occurred between January 1 and 2 but assured users that the situation had been “immediately contained” and that user funds and personal data were safe. They apologized for the inconvenience and noted that an investigation was underway.
Launched in 2023 by Ray Youssef, NoOnes markets itself as a community-driven alternative to Paxful, aiming to simplify access to cryptocurrencies and digital payments. As of January 2025, the platform has grown significantly, with over 1.7 million users and monthly transactions exceeding $100 million. The platform reportedly holds $25 million in reserves.
NoOnes’ mobile application has gained traction, particularly in African markets like Kenya, Cameroon, and South Africa. By May 2024, the app surpassed 200,000 downloads, reflecting a 300% increase in daily downloads and a 400% surge in user sign-ups compared to earlier that year.
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