Paxos Accidentally Mints Trillion-Dollar Amount of PayPal USD, Burning it All

A technical glitch at Paxos resulted in the accidental creation of $300 trillion in PayPal USD (PYUSD). The token was burned within just 22 minutes, highlighting the transparency and speed of blockchain technology. This incident underscores how quickly errors can be detected and addressed on a blockchain platform compared to traditional systems that often take longer to identify and rectify mistakes.