Paxos Addresses Technical Glitch, Reclaiming Stability for PYUSD

A technical glitch caused a temporary surge in the supply of Paxos-issued stablecoin PYUSD. The error, discovered at 3:12 PM ET, led to the accidental creation of approximately 300 trillion PYUSD tokens. However, Paxos swiftly resolved the issue, burning the excess tokens and restoring the correct balance within minutes. No customer funds were impacted, according to the company. 36Crypto provides further details on this incident.