🚨 $300 Trillion PYUSD Accidentally Minted by Paxos! 🤯💸

Big news in the crypto world! Paxos, PayPal’s blockchain partner, accidentally minted $300 trillion in PYUSD stablecoins due to a technical glitch — that’s more than twice the world’s GDP! 🌍

🔹 What Happened:

⚠️ A decimal miscalculation during an internal transfer caused the massive accidental minting.

⏱️ The mistake was identified and corrected within 20 minutes by burning the excess tokens.

🔒 No customer funds were affected, and Paxos confirmed no security breach, it was purely a technical error.

🔹 Why This Matters:

💡 Highlights the control stablecoin issuers have — unlike other cryptocurrencies, stablecoins can be minted and burned to quickly fix mistakes.

🚀 Despite the error, PYUSD remains one of the top stablecoins globally, with a market cap of over $2.6B.

⚖️ Shows the importance of precision and auditing in stablecoin operations, especially when dealing with huge volumes.

💬 What do you think? Could mistakes like this shake confidence in stablecoins, or is quick action enough to maintain trust? Drop your thoughts below! 👇

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