Paxos Burns $300 Trillion Worth PYUSD It Mistakenly Minted, Issues Official Statement

ccn.comPublicado em 2025-10-16Última atualização em 2025-10-16

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 appeared on Ethereum.

At a 1:1 dollar peg, that’s roughly $300 trillion in stablecoins—an amount greater than twice global GDP.

Within 30 minutes, the anomaly vanished, with Paxos burning the entire supply and restoring balances to normal.

The brief episode, while resolved quickly, rattled DeFi protocols and reignited questions about how tightly controlled stablecoin issuance really is.

Earn Crypto with These Top Mining Apps
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
Mining Rig Rentals

Mining Rig Rentals
promotions
Earn a commission on your referral’s transactions.
Coins
Bitcoin Litecoin Ethereum Classic Monero Dogecoin 6
Claim Offer
Hashing24

Hashing24
promotions
Earn 3-10% on referral purchases
Coins
Bitcoin
Claim Offer
Binance Pool

Binance Pool
promotions
Sign up, verify, deposit 100 USDT, get 100 USDT bonus
Coins
Bitcoin Bitcoin Cash Litecoin Ethereum Classic Zcash 5
Claim Offer

How It Happened

The mistake occurred during what Paxos described as a “routine internal transfer.”

On-chain analysis suggests it was likely a fat-finger entry: instead of minting 300 million tokens, an operator keyed in 300 trillion.

The mint briefly inflated PYUSD’s circulating supply, forcing Aave to freeze new deposits of the stablecoin.

Other protocols flagged the sudden spike before Paxos corrected the issue by sending the minted tokens to an irrecoverable Ethereum address.

No Lasting Damage, but Big Lessons

Paxos emphasized that no customer funds were impacted and that the supply quickly returned to its pre-event level of around 253 million tokens.

The New York Department of Financial Services (NYDFS), which regulates Paxos, confirmed it is reviewing the incident.

While the mishap caused no systemic shock, analysts noted how easily a mistake at the issuer level can ripple across the industry.

With PYUSD among the top six stablecoins, even a short-lived minting error was enough to trigger protocol freezes and speculation of deeper issues.

Top Picks for Bitcoin

Leituras Relacionadas

Kraken Plans CFTC-Regulated Perpetual Futures For US Professional Traders

Kraken plans to launch CFTC-regulated perpetual futures for eligible US professional traders through its acquired derivatives exchange, Bitnomial. These contracts, featuring continuous pricing, no expiry, and regular funding, aim to provide a regulated domestic route to a product that is central to global crypto trading but has been largely inaccessible on US platforms. The offering is expected to be integrated into Kraken Pro, allowing traders to manage various exposures in one interface. Key factors for success will include eligibility criteria, contract design, and the development of sufficient liquidity. This move could pave the way for more regulated perpetual products in the US market.

bitcoinistHá 6h

Kraken Plans CFTC-Regulated Perpetual Futures For US Professional Traders

bitcoinistHá 6h

Warsh's Debut: Will the FED Chair Who Knows Crypto Best Bring Surprises or Shocks to the Market?

Kevin Warsh, the new Federal Reserve Chairman, prepares for his inaugural press conference amidst a challenging macroeconomic landscape: resurgent inflation, a bond market sell-off, and political pressure from President Trump for rate cuts. Uniquely, Warsh holds indirect investments in over 20 crypto and Web3 entities (e.g., Solana, dYdX), making him the first Fed Chair with disclosed crypto exposure. His stance may combine a hawkish, inflation-focused monetary policy with a crypto-friendly regulatory philosophy that shifts from Powell’s “same risk, same rule” approach toward a framework acknowledging blockchain’s productivity value. Warsh’s leadership could impact crypto markets across three dimensions: a paradigm shift in regulation (potentially accelerating pro-innovation legislation and stable币 rules), a re-pricing of risk premiums based on clearer communication and his view of AI as a structural disinflationary force, and a long-term reallocation of global institutional capital driven by increased legitimacy. Two potential scenarios for the press conference are outlined. A “positive surprise” would involve a dovish-leaning tone on rates coupled with signals of regulatory openness, potentially boosting crypto asset valuations. Conversely, a “negative shock” would see a more hawkish-than-expected stance on inflation and rates, triggering a broad risk-asset selloff that crypto markets would not escape. While ethics rules required Warsh to divest his crypto holdings upon confirmation, his deep understanding of the technology may fundamentally lower policy uncertainty and build a more receptive long-term foundation for digital assets’ integration into the mainstream financial system.

marsbitHá 7h

Warsh's Debut: Will the FED Chair Who Knows Crypto Best Bring Surprises or Shocks to the Market?

marsbitHá 7h

XRP Ledger Launches XRPLd Rebrand With Version 3.2.0 Upgrade

XRP Ledger has launched version 3.2.0, rebranding its core server software from "rippled" to "xrpld." This release focuses on back-end upgrades, including major memory optimizations that can reduce server memory usage by up to 40% and architectural improvements for future scaling. Key updates enhance security for features like vaults, lending, and decentralized exchanges, and introduce new invariant checks for ledger consistency. The upgrade also adds the capability for applications to retrieve protocol information without connecting to a server, aiding wallet and API development. Additional changes aim to improve enterprise connectivity and performance, featuring configurable block sizes and an updated default peering port, along with various fixes for core network functions.

TheNewsCryptoHá 7h

XRP Ledger Launches XRPLd Rebrand With Version 3.2.0 Upgrade

TheNewsCryptoHá 7h

AGI is Not the End, DeepMind's New Paper: Moving Towards ASI, the Real AI Progress Has Just Begun

In a new report, Google DeepMind researchers argue that achieving Artificial General Intelligence (AGI) is not the end goal, but rather a step toward Artificial Superintelligence (ASI). They outline four potential pathways for this transition: 1) continued scaling of compute, models, and data; 2) algorithmic evolution and potential paradigm shifts; 3) recursive self-improvement; and 4) multi-agent coordination and collective intelligence. The report also identifies six key bottlenecks that could hinder progress: data limitations (the "data wall"), economic and resource pressures, limitations of current neural network paradigms, increasing research difficulty, "abstraction barriers" in forming new concepts, and regulatory and societal pushback. Looking ahead, the authors emphasize the need for new evaluation methods once AI surpasses human benchmarks. They call for a large-scale, interdisciplinary effort to prepare for a future where AI-driven advancements could trigger transformative changes across multiple fields. The path and speed of progress remain uncertain, constrained by physical laws, computational complexity, and real-world feedback loops.

marsbitHá 8h

AGI is Not the End, DeepMind's New Paper: Moving Towards ASI, the Real AI Progress Has Just Begun

marsbitHá 8h

Kraken Launches Pre-IPO Perps For OpenAI And Anthropic With Up To 5x Leverage

Kraken has launched pre-IPO perpetual futures contracts for private AI giants OpenAI and Anthropic, offering eligible traders up to 5x leverage. These derivatives provide synthetic exposure to the companies' valuations ahead of any public listing, tapping into high investor demand for AI themes. However, the product carries unique risks compared to standard crypto perpetuals, as private company valuations lack transparent, continuous pricing and depend on funding rounds, secondary transactions, and IPO timelines. This move signals crypto exchanges' expansion into alternative speculative markets beyond digital assets, though it raises questions about risk management, liquidity, and investor understanding, especially when using leverage.

bitcoinistHá 8h

Kraken Launches Pre-IPO Perps For OpenAI And Anthropic With Up To 5x Leverage

bitcoinistHá 8h

Trading

Spot
Futuros

Artigos em Destaque

Como comprar PYUSD

Bem-vindo à HTX.com!Tornámos a compra de Paypal USD (PYUSD) simples e conveniente.Segue o nosso guia passo a passo para iniciar a tua jornada no mundo das criptos.Passo 1: cria a tua conta HTXUtiliza o teu e-mail ou número de telefone para te inscreveres numa conta gratuita na HTX.Desfruta de um processo de inscrição sem complicações e desbloqueia todas as funcionalidades.Obter a minha contaPasso 2: vai para Comprar Cripto e escolhe o teu método de pagamentoCartão de crédito/débito: usa o teu visa ou mastercard para comprar Paypal USD (PYUSD) instantaneamente.Saldo: usa os fundos da tua conta HTX para transacionar sem problemas.Terceiros: adicionamos métodos de pagamento populares, como Google Pay e Apple Pay, para aumentar a conveniência.P2P: transaciona diretamente com outros utilizadores na HTX.Mercado de balcão (OTC): oferecemos serviços personalizados e taxas de câmbio competitivas para os traders.Passo 3: armazena teu Paypal USD (PYUSD)Depois de comprar o teu Paypal USD (PYUSD), armazena-o na tua conta HTX.Alternativamente, podes enviá-lo para outro lugar através de transferência blockchain ou usá-lo para transacionar outras criptomoedas.Passo 4: transaciona Paypal USD (PYUSD)Transaciona facilmente Paypal USD (PYUSD) no mercado à vista da HTX.Acede simplesmente à tua conta, seleciona o teu par de trading, executa as tuas transações e monitoriza em tempo real.Oferecemos uma experiência de fácil utilização tanto para principiantes como para traders experientes.

205 Visualizações TotaisPublicado em {updateTime}Atualizado em 2026.06.02

Como comprar PYUSD

Discussões

Bem-vindo à Comunidade HTX. Aqui, pode manter-se informado sobre os mais recentes desenvolvimentos da plataforma e obter acesso a análises profissionais de mercado. As opiniões dos utilizadores sobre o preço de PYUSD (PYUSD) são apresentadas abaixo.

活动图片

Categorias popularesright-arrow

Etiquetas Popularesright-arrow