Paxos Admits to Overpaying Bitcoin Transfer Fee, Denies PayPal Connection

September 10 saw Paxos, a notable name in the crypto industry, mistakenly overpay by $500,000 for a Bitcoin transfer. Their swift acknowledgment on September 13 affirmed that end users remain unaffected by this error and all user funds are safeguarded. Paxos, recognized for issuing stablecoins such as Pax Dollar (USDP) and PayPal USD (PYUSD), also operates a cryptocurrency brokerage offering Bitcoin. Their quick clarification was essential, especially since discussions on platform X, formerly known as Twitter, were rife with suspicions about PayPals involvement. This speculation arose due...


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