🚨 Paxos "mistakenly minted" 300 trillion PYUSD on #Ethereum#



📍 A few hours ago, Paxos – the issuer of #PayPal# USD (PYUSD) minted 300 trillion $PYUSD, equivalent to more than 12,000 times the actual total supply of this stablecoin. The community is confused as they thought this was a hack.

📌 #Paxos ngay lập tức phân trần rằng đây là lỗi kỹ thuật nội bộ do nhập sai số trong quá trình mint — lẽ ra chỉ là 300M #PYUSD, but the system processed it as 300 trillion. Paxos then discovered and burned all the faulty tokens, bringing the supply back to normal.

📌 Some DeFi protocols like Aave have temporarily stopped supporting PYUSD to avoid systemic risk, while the price of PYUSD on the exchange briefly lost its peg, then quickly stabilized after the token was burned back.

📌The future of stablecoin for global payments and such... Fortunately, it does not affect the overall market.
PYUSD0.1%
ETH-2.39%
AAVE-7.77%
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