LocalMonero, a platform facilitating private peer-to-peer trades of Monero (XMR), announced its shutdown starting May 2024, with complete closure by November 2024. This move marks a significant loss for the Monero community, which relied on LocalMonero for private fiat-to-XMR transactions. The platform's arbitration bond system and dispute mediation were crucial in maintaining transaction integrity.

Post-closure, Haveno remains the only no-KYC platform for fiat-to-XMR trades, though its setup complexity may deter beginners. Other options like Bisq and Majestic Bank offer crypto-to-crypto trades but lack fiat support. The market's limited alternatives underscore a challenging landscape for private Monero transactions.