NoOnes has begun a phased shutdown after more than three years in business, saying efforts to resolve sanctions-related issues failed, key partners were lost and blockchain monitoring firms flagged NoOnes-linked transactions as high risk, making normal operations increasingly difficult. The platform said it had previously been added to the European Union's sanctions list related to Russia. The wind-down started on Aug. 17, with the P2P marketplace set to close on Aug. 21 at 23:59 UTC. Swaps, fiat withdrawals, gift card sales, NoOnes Visa and the Bitcoin Lightning Network are also being discontinued in stages, after which the platform will operate in withdrawal-only mode. Users were told to withdraw assets as soon as possible and no later than Aug. 23. The closure follows an earlier security breach disclosed this year that resulted in about $8 million in crypto losses, an incident later confirmed by Chief Executive Officer Ray Youssef after on-chain investigator ZachXBT revealed it on Telegram.