Noones
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 18 → 55. Problems weighed by who is responsible: the subject's own conduct −8, concerns that are not fraud −6.4, problems around the subject, caused by others −1.6; legitimacy credit long-running +6. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -8 |
| Concerns that are not fraud | -6.4 |
| Problems around it, caused by others | -1.6 |
| Long-running | +6 |
| Sum | 55 |
Score: 55/100 (kept between 0 and 100)
How scoring works →Summary
Noones is a peer-to-peer cryptocurrency trading platform targeting Africa and the Global South, founded and initially led by Ray Youssef, co-founder of the now-defunct Paxful. In January 2025, the platform suffered an $8 million hot-wallet exploit that was concealed for nearly three weeks before on-chain investigator ZachXBT publicly exposed the breach. Compounding platform risk, Youssef was subsequently indicted by the DOJ in early 2026 on federal AML charges stemming from his leadership of Paxful, and stepped down as Noones CEO shortly thereafter.
Connected Entities
8 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Paxful→mentioned with→Bitcoin(70%)
- ZachXBT→mentioned with→Ethereum(70%)
- ZachXBT→mentioned with→Bitcoin(65%)
- ZachXBT→mentioned with→Binance(60%)
- Binance→mentioned with→Ethereum(65%)
- Paxful→mentioned with→Noones(70%)
- Noones→mentioned with→Paxful(70%)
- Noones→mentioned with→Ethereum(70%)
- Noones→mentioned with→Solana(80%)
- + 9 more
Timeline(11 events)
October 2023
Ray Youssef, former Paxful co-founder and CEO, announced as Noones CEO. Youssef directed Paxful users to transition to Noones following Paxful's 2023 shutdown.
2025
Noones hot wallets across Ethereum, Tron, Solana, and Binance Smart Chain exploited via a Solana bridge vulnerability. Approximately $7.9 million stolen. Platform issues routine 'maintenance' notice rather than disclosing breach.
24 January 2025
On-chain investigator ZachXBT publishes findings exposing the Noones breach, documenting hundreds of suspicious sub-$7,000 outflows and tracing funds to Tornado Cash.
24 January 2025
CEO Ray Youssef publicly confirms the January 1 Solana bridge exploit and attributes the delay in disclosure to ongoing remediation. Claims user funds are 'SAFU.'
December 2025
Paxful pleads guilty to three federal criminal charges: conspiracy to promote illegal prostitution via Backpage, operating as an unlicensed money transfer business, and failing to maintain proper AML controls. Agrees to pay $4 million criminal fine.
10 February 2026
U.S. District Court formally sentences Paxful in connection with its December 2025 guilty plea. FinCEN separately imposes $3.5 million civil penalty on Paxful.
14 February 2026
DOJ indicts Ray Youssef in U.S. District Court for the Eastern District of California on AML-related charges stemming from Paxful operations. Youssef is arrested after deportation from Mexico to Los Angeles.
Decision Log
- slot 455368783 · hash 4f4KsvmGUq5EdJmKA7hbaHhAzVNi5LJcGHkq9cqAugDh
- slot 420660338 · hash 57oYWmxqU5DSAM7JXro5qaeudbuAmuCJWXgGftGUztfk
This investigation is cryptographically anchored to the Solana blockchain (2 decisions).
model: claude-sonnet
generated: 5/4/2026, 4:05:03 PM
last updated: 10/10/2026, 6:48:50 PM
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