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

NoOnes announced the immediate closure of its platform, urging all users to withdraw their funds no later than August 23, 2026. The shutdown follows the application of EU sanctions that impacted the company’s essential partners and compliance status.

Reason for the Closure

EU sanctions introduced in late July classified NoOnes’ wallets and transactions as high‑risk, making it difficult for the platform to process transactions. Despite attempts to resolve the sanctions, the company concluded that continued operation was unsustainable.

Services Affected

The peer‑to‑peer marketplace, which operated for three years and served over 2.5 million users, ceased operations on August 21. All ancillary services—including the Swap feature, Visa card, crypto off‑ramps, gift‑card store, and Lightning payments—were discontinued. Withdrawals remain possible only via the Bitcoin (BTC) network and Tether (USDT) on the TRON blockchain.

User Action Required

Users are instructed to move their entire balances to self‑custody wallets they control before the August 23 deadline. After this date, funds linked to NoOnes may be flagged by external compliance providers.

Broader Industry Context

NoOnes joins a growing list of crypto projects that have shut down in 2026. According to RootData, more than 120 projects closed that year, with 110 cases reviewed by Alea Research. Decentralized finance (DeFi) accounted for the largest share of closures (40 cases), followed by infrastructure projects (17 cases). The median funding of closed projects was $5.28 million, and the median age at closure was 4.69 years.

Future Outlook

Other platforms, such as Binance, are also adjusting operations in response to the same sanctions, and BitMart is considering a restructuring plan rather than full liquidation.