Paxful Pleads Guilty, Youssef Calls Charges ‘Bogus’

[kevin1]

Days before Youssef’s indictment, Paxful pleaded guilty to three federal criminal charges, including operating as an unlicensed money transmission business and failing to implement an effective AML program. The company also admitted to conspiring to promote illegal prostitution through interstate commerce related to the Backpage case. Despite federal sentencing guidelines suggesting a higher penalty, Paxful will pay a $4 million fine based on its financial condition, with sentencing scheduled for February 2026.

Youssef, who was reportedly deported to the US from Mexico and briefly detained before being released under supervision, claims the case centers on approximately $240 in Bitcoin transactions. He has criticized what he views as selective enforcement within the crypto industry. Meanwhile, NoOnes has announced that Youssef is no longer serving as CEO, stating that his legal matters are personal and unrelated to the company’s current operations.

[cryptobro]

three criminal charges, one tiny btc amount, endless threads on selective enforcement