Paxos Accidentally Mints $300 Trillion in PayPal Stablecoin PYUSD, Exceeding Total USD Supply

Blockchain infrastructure company Paxos experienced a major technical error resulting in the accidental creation of $300 trillion worth of PayPal's PYUSD stablecoin. This staggering amount significantly surpasses the entire $2.4 trillion USD supply currently in circulation. The incident, known in financial markets as a "fat-finger" error, highlights potential vulnerabilities in digital asset operations. Paxos quickly identified and burned the erroneously minted PYUSD tokens to maintain market stability and ensure the stablecoin's peg to the US dollar remains intact.