Odaily Planet Daily News Ray Youssef, CEO and co-founder of P2P Bitcoin exchange Paxful, announced that he is developing a plan to repay users' funds with his own money in an effort to comply with the law and avoid getting into deeper legal problems after his exchange suddenly closed. Youssef said that he was at risk of going to jail for failing to comply with the court's order to return Paxful's frozen funds, which led him to take such drastic measures. Youssef explained that he was taking such a risk because if he didn't, the funds might be "forgotten" and users might never get them back. However, he asked the community for patience as he performed this task. (Cryptopotato) As previously reported, on April 4, Ray Youssef announced that Paxful had suspended operations and said the suspension could be permanent, while citing the departure of key employees and regulatory challenges. According to the instructions, the Paxful wallet will remain active to allow customers to retrieve "all accounted" funds. Ray Youssef said the top priority is to maintain the security of customer funds. Paxos provides non-US users with the option to easily migrate to other peer-to-peer platforms to ensure that they can quickly and safely retrieve their funds. Exodus wallet and Muun wallet are recommended as safe options. In addition, Cointelegraph reported that Paxful co-founder Artur Schaback and Ray Youssef went to court to fight for control of the company, which may be the real reason for the closure of the platform.