"The excess PYUSD was mistakenly minted during the internal transfer process, and Paxos immediately identified the error and destroyed the excess PYUSD," Paxos said in a statement. "This is an internal technical error, there are no security bugs, customer funds are safe, and we have addressed the root cause."
Paxos minted 300 trillion PYUSD and destroyed them 20 minutes later.
Paxos: Excess PYUSD minted incorrectly during internal transfer and destroyed, no security bugs
2025-10-15 23:18:15
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