Following public reports earlier today regarding a security breach at Binance, Paxos conducted an independent blockchain investigation to verify the claims. On-chain data revealed that PAXG tokens previously stored on the Binance exchange had been transferred to an address associated with the suspected perpetrator. In response to these confirmed findings, we have successfully frozen exactly 1,906.67 PAXG tokens located at the wallet address 0x5227f603C1eE34CE3C06eFe6477003BDfCCB2f8c.
Please be assured that this event has not compromised any Paxos systems. All operations regarding redemptions are functioning as usual, and the underlying reserves backing PAXG, PYUSD, and USDG are completely secure and fully intact.
Given the fast-paced nature of these unfolding events, we are committed to sharing further updates as soon as more verified information becomes available. Furthermore, Paxos maintains its standard practice of cooperating fully with regulatory authorities and law enforcement agencies throughout this process.
Please be assured that this event has not compromised any Paxos systems. All operations regarding redemptions are functioning as usual, and the underlying reserves backing PAXG, PYUSD, and USDG are completely secure and fully intact.
Given the fast-paced nature of these unfolding events, we are committed to sharing further updates as soon as more verified information becomes available. Furthermore, Paxos maintains its standard practice of cooperating fully with regulatory authorities and law enforcement agencies throughout this process.