Jinse Finance reported that Paxos stated, "During an internal transfer process, an excess amount of PYUSD was mistakenly minted. Paxos immediately detected the error and destroyed the surplus PYUSD. This was an internal technical error, not a security vulnerability. Customer funds are safe, and we have already addressed the root cause." Previous reports indicated that Paxos minted 300 trillion PYUSD and destroyed it 20 minutes later.