Stablecoin Issuer Paxos Accidentally Issued $300 Trillion of PayPal PYUSD Stablecoin During Internal Transfer, Incident Reported as Internal Technical Error
18th October | Hong Kong
Stablecoin issuer Paxos accidentally issued $300 trillion of PayPal PYUSD stablecoin during an internal transfer, with the incident reported as an internal technical error. Paxos (16/10/25): “At 3:12 PM EST, Paxos mistakenly minted excess PYUSD as part of an internal transfer. Paxos immediately identified the error and burned the excess PYUSD. This was an internal technical error. There is no security breach. Customer funds are safe. We have addressed the root.” Paxos – Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way. Paxos partners with leading global enterprises to tokenize, custody and trade assets. Its blockchain solutions are used by leaders like PayPal, Interactive Brokers, Mastercard, Mercado Libre and Nubank. Paxos is licensed to engage in virtual currency business activity by the NYDFS and is the issuer of numerous regulated digital assets including PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG). Its affiliate company Paxos International issues the yield-bearing regulated stablecoin Lift Dollar (USDL). Paxos Singapore is the issuer of Global Dollar (USDG), a USD-backed stablecoin that powers the Global Dollar Network and is substantively compliant with MAS’ upcoming stablecoin regulatory framework. Prudentially regulated by the NYDFS in the US, the MAS in Singapore and FSRA in Abu Dhabi Global Market, Paxos is a top-funded fintech company with more than $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital and PayPal Ventures.
“ Stablecoin Issuer Paxos Accidentally Issued $300 Trillion of PayPal PYUSD Stablecoin During Internal Transfer, Incident Reported as Internal Technical Error “
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Stablecoin Issuer Paxos Accidentally Issued $300 Trillion of PayPal PYUSD Stablecoin During Internal Transfer, Incident Reported as Internal Technical Error
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