Paxos confirms it’s responsible for $500K mistaken Bitcoin transaction By Cointelegraph
[ad_1]
© Reuters.
The account that overpaid $500,000 in fees on Sept. 10 for a transfer belonged to Paxos, according to a Sept. 13 statement from the company. Paxos claimed that end users have not been affected and all user funds are safe. Paxos is most well-known as the issuer of stablecoins, including PayPal (NASDAQ:) USD (PYUSD) and Pax Dollar (USDP), but also runs a crypto brokerage firm that carries Bitcoin (BTC).
The statement comes after users on X (formerly Twitter) were speculating that PayPal may have been responsible for the transaction due to a related wallet account that had been identified by analytics platform OXT as belonging to PayPal. A Paxos representative told Cointelegraph that PayPal was not responsible, as the error was its own, stating:
Continue Reading on Coin Telegraph
[ad_2]
Source link
© Reuters.
The account that overpaid $500,000 in fees on Sept. 10 for a transfer belonged to Paxos, according to a Sept. 13 statement from the company. Paxos claimed that end users have not been affected and all user funds are safe. Paxos is most well-known as the issuer of stablecoins, including PayPal (NASDAQ:) USD (PYUSD) and Pax Dollar (USDP), but also runs a crypto brokerage firm that carries Bitcoin (BTC).
The statement comes after users on X (formerly Twitter) were speculating that PayPal may have been responsible for the transaction due to a related wallet account that had been identified by analytics platform OXT as belonging to PayPal. A Paxos representative told Cointelegraph that PayPal was not responsible, as the error was its own, stating:
Continue Reading on Coin Telegraph
About The Author
