Paxos Blames Internal Error for $300 Trillion PYUSD Stablecoin Mint

TLDR Paxos mistakenly minted $300 trillion worth of PYUSD stablecoins on the Ethereum blockchain. The minting error was identified and corrected within minutes as Paxos burned the entire amount. Paxos confirmed the incident was due to an internal technical issue and not a security breach. Industry leaders expressed concern over the error and questioned Paxos’ [...]

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