Paxos Burns $300 Trillion Worth PYUSD It Mistakenly Minted, Issues Official Statement
Yahoo Finance·2025-10-16 08:17
Paxos accidentally mints $300 trillion PYUSD. Source: StableCoinsWar.com Key Takeaways Paxos mistakenly minted $300 trillion worth of PayPal USD (PYUSD) during an internal transfer error. The amount was nearly twice the size of global GDP but was burned within 30 minutes. No customer funds were impacted, though DeFi protocols briefly froze PYUSD deposits. On Oct. 15, stablecoin issuer Paxos triggered one of the most startling errors in crypto’s short history: 300 trillion PYUSD tokens suddenly ap ...