Paxos's $510,750 Bitcoin Transaction Error Raises Concerns

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United Arab Emirates MetaNews
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For more information go to https://metanews.com/paypals-partner-paxos-pays-510000-for-a-single-bitcoin-transaction/
PayPal's cryptocurrency infrastructure partner, Paxos, faced a significant financial blunder when they overpaid $510,750 for a single Bitcoin transaction. Initially attributed to human error, this "fat finger" mistake is now believed to be caused by a software bug. Paxos handles PayPal's integration with cryptocurrency networks and payments, including the PayPal stablecoin, PayPal USD (PYUSD). The error, detected by Mempool's Mononaut, raised questions about oversight and competence. Paxos admitted responsibility, stating that the incident did not impact user funds. This incident highlights the importance of robust oversight and scrutiny in cryptocurrency operations. #CryptocurrencyMistake #PaxosError #BitcoinTransaction #PayPalPartner #CryptoBlunder



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