Paxos Mints $300T PYUSD by Mistake — Blockchain Catches It in Minutes

[cryptohog]

On Oct. 15, Paxos accidentally minted a staggering $300 trillion in PayPal USD (PYUSD) due to an “internal technical error.”

The error was visible immediately on-chain and burned just 22 minutes later, showing blockchain’s advantage over traditional banking, where fat-finger transactions can take months to uncover.

“Mistakes happen in every financial system — the difference with blockchain is that they’re visible, traceable, and quickly correctable,” said OKX Australia CEO Kate Cooper.

[alex10]

A fascinating example of blockchain efficiency — errors corrected in real-time without chaos.

[Nahid10]

Even massive minting mistakes prove why blockchain transparency is invaluable for oversight.