Crypto App NoOnes Shuts Down After Sanctions, Affecting 2.5M Users

NoOnes has shut down, telling customers to withdraw funds instantly. The crew warned that balances tied to the platform could also be flagged after August 23.

The peer-to-peer market served greater than 2.5 million customers in three years. Sanctions price it important companions, leaving withdrawals as the one operate nonetheless working.

Follow us on X to get the newest information because it occurs

🚨 NoOnes is now closed.

Please withdraw your funds NOW. After Aug 23, NoOnes-related funds could also be flagged as a consequence of sanctions.

We strongly advocate shifting funds to a self-custody pockets you management.

Thank you for an incredible 3 years. 💚

— Noones App (@noonesapp) August 22, 2026

NoOnes Shuts Down After Sanctions Hit

NoOnes stated it labored to resolve and remove the sanctions, however failed. Blockchain monitoring suppliers then categorized its wallets and transactions as high danger.

This has made it tough for the platform to course of transactions and function usually.

“We explored each potential choice, however persevering with NoOnes was now not sustainable,” the blog learn.

The wind-down started on August 17. The P2P market closed on August 21, taking Swap, the Visa card, crypto off-ramps, the reward card retailer, and Lightning funds with it.

Withdrawals now run solely via the Bitcoin (BTC) network and Tether (USDT) on TRON. The crew strongly suggested customers to withdraw their complete stability instantly and no later than Sunday, August 23, 2026.

“Because of the EU sanctions itemizing, exterior compliance suppliers might evaluation or change the danger rankings of sure NoOnes firm wallets,” the team stated.

The Council of the EU adopted its twenty first sanctions bundle in opposition to Russia in late July. Binance will also stop processing transactions involving a number of platforms on August 23. 

Crypto Closures Pile Up While BitMart Changes Course

NoOnes joins a protracted 2026 record. OrdinalsBot introduced its wind-down this week after three years. More than 120 crypto tasks have shut down in 2026, in accordance with RootData. 

110 crypto shutdowns/restructurings in 2026 signify $687.1M in disclosed historic funding.

DeFi leads with 40 instances, adopted by infrastructure (17).

Of 36 dated occasions, 17 occurred in July–August.

Median funding: $5.28M; median age at closure: 4.69 years. pic.twitter.com/XWL9klwYyL

— Alea Research (@AleaResearch) August 14, 2026

Alea Research reviewed 110 of these instances via mid-August. Decentralized Finance (DeFi) accounted for 40 closures (36%), whereas centralized exchanges accounted for under 7.

One title has since moved the opposite approach. BitMart said this week that it’s weighing a restructuring plan reasonably than a full liquidation, with a roadmap anticipated by September 9.

Subscribe to our YouTube channel to look at leaders and journalists present skilled insights

The put up Crypto App NoOnes Shuts Down After Sanctions, Affecting 2.5M Users appeared first on BeInCrypto.