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

Source Beincrypto

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.

🚨 NoOnes is now closed.Please withdraw your funds NOW. After Aug 23, NoOnes-related funds may be flagged due to sanctions.We strongly recommend moving funds to a self-custody wallet you control.Thank you for an amazing 3 years. 💚
— Noones App (@noonesapp) August 22, 2026

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, according to RootData.

110 crypto shutdowns/restructurings in 2026 represent $687.1M in disclosed historical funding. DeFi leads with 40 cases, followed by infrastructure (17). Of 36 dated events, 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 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 that it is weighing a restructuring plan rather than a full liquidation, with a roadmap expected by September 9.

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