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Editor’s PickCryptocurrency Market NewsBusinesses
Aug 23, 2026
2min read
byKamina Bashir
forBeInCrypto
<img src="https://xpertsstudio.com/wp-content/uploads/2026/08/image_4-2.png" alt="Crypto App NoOnes Shuts Down After Sanctions, Affecting 2.5M Users” loading=”lazy”>
NoOnes, a peer-to-peer crypto marketplace that served more than 2.5 million users over three years, began winding down on August 17 and closed on August 21 after sanctions caused blockchain monitors to flag its company wallets as high risk; the team urged withdrawals via the Bitcoin network or USDT on TRON by August 23. The shutdown contributes to a wider 2026 wave of crypto closures—RootData counts over 120 projects shut and Alea Research reviewed 110 cases totaling $687.1M in disclosed funding with DeFi responsible for 40 closures—while CEX BitMart is considering a restructuring with a roadmap due September 9.
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In Brief
- NoOnes shut down after 3 years, telling its users to withdraw funds.
- Sanctions cut off partners and flagged NoOnes wallets as high risk.
- BitMart reversed its own shutdown a day earlier, weighing a potential phased restart.
NoOnes has shut down, telling users to withdraw funds immediately. The team warned that balances tied to the platform may be flagged after August 23.
The peer-to-peer marketplace served more than 2.5 million users in three years. Sanctions cost it essential partners, leaving withdrawals as the only function still running.
https://x.com/noonesapp/status/2091065177823154526
NoOnes Shuts Down After Sanctions Hit
NoOnes said it worked to resolve and remove the sanctions,but failed. Blockchain monitoring providers then classified its wallets and transactions as high risk.
This has made it difficult for the platform to process transactions and operate normally.
“We explored every possible option, but continuing NoOnes was no longer sustainable,” the blog read.
The wind-down began on August 17. The P2P marketplace closed on August 21, taking Swap, the Visa card, crypto off-ramps, the gift card store, and Lightning payments with it.
Withdrawals now run only through the Bitcoin (BTC) network and Tether (USDT) on TRON. The team strongly advised users to withdraw their entire balance immediately and no later than Sunday, August 23, 2026.
“Because of the EU sanctions listing, external compliance providers may review or change the risk ratings of certain NoOnes company wallets,” the team said.
The Council of the EU adopted its 21st sanctions package against Russia in late July. Binance will also stop processing transactions involving several platforms on August 23.
Crypto Closures Pile Up While BitMart Changes Course
NoOnes joins a long 2026 list. OrdinalsBot announced its wind-down this week after three years. More than 120 crypto projects have shut down in 2026
https://x.com/AleaResearch/status/2088188879484711378
Alea Research reviewed 110 of those cases through mid-August. Decentralized Finance (DeFi) accounted for 40 closures (36%), while centralized exchanges accounted for only 7.
One name has since moved the other way. BitMart said this week thatit is weighing a restructuring plan rather than a full liquidation, with a roadmap expected by September 9.
Source: cryptorank.io