Paxos has taken urgent action to burn 300 trillion PYUSD tokens that were mistakenly minted. This decision comes in response to a significant error in the token creation process. The company aims to rectify the situation promptly to maintain the integrity of its digital currency. Burning the tokens is a critical step in addressing the unintended minting and ensuring that the total supply of PYUSD remains accurate. Paxos is committed to transparency and accountability in its operations, which is reflected in its swift response to this incident.
