Paxos Accidentally Minted 300 Trillion PYUSD

• Paxos accidentally released 300 trillion PYUSD on the Ethereum network during an internal transfer.
• The company made a technical error.
• Later, the tokens were burned, and there was no hack.
• PYUSD became one of the most discussed tokens on social media.

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On October 15, 2025, Paxos, the issuer of the PayPal USD (PYUSD) stablecoin, mistakenly issued an excessive amount of PYUSD during an internal transfer, namely 300 trillion PYUSD on the Ethereum network.

The company noted that the error was detected immediately and the excess PYUSD stablecoins were burned.

Santiment analysts noted that PYUSD was on the list of the most popular tokens in the crypto space in terms of activity on social media (based on the highest discussion rates compared to the average):

According to them, this event attracted significant attention because it involved a huge and atypical volume of tokens created, which were subsequently quickly burned to correct the error.

One of the users of X (formerly Twitter) under the pseudonym VarrockBank said that there is only $21 trillion in the world. He advised to think seriously about the risks of working with Paxos if it can accidentally print 15 times more money than exists in the world.

As a reminder, on October 3, 2025, the capitalization of the stablecoin sector reached and then exceeded $300 billion for the first time in history.