Paxos Accidentally Mints $300 Trillion PYUSD, Quickly Rectifies Error
Paxos, the issuer of PayPal's PYUSD stablecoin, mistakenly minted $300 trillion worth of tokens on October 15 due to a transaction error. The excess tokens, created by adding six extra zeros, were swiftly burned, and the correct amount of 300 million PYUSD was issued. This incident has raised awareness about the importance of accuracy in digital currency transactions and the complexities of blockchain technology.
Paxos Accidentally Mints $300 Trillion PYUSD, Quickly Rectifies Error
Paxos, the issuer of PayPal's PYUSD stablecoin, mistakenly minted $300 trillion worth of tokens on October 15 due to a transaction error. The excess tokens, created by adding six extra zeros, were swiftly burned, and the correct amount of 300 million PYUSD was issued. This incident has raised awareness about the importance of accuracy in digital currency transactions and the complexities of blockchain technology.
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