Earlier today, public reports indicated that Binance was impacted by a security incident. Blockchain analysis showed that PAXG tokens held on the Binance platform were moved to the suspected attacker’s address.

After confirming the reports with its own blockchain investigation, Paxos froze 1,906.67 PAXG tokens in wallet: 0x5227f603C1eE34CE3C06eFe6477003BDfCCB2f8c

Paxos systems have not been impacted by this incident. Reserves for PAXG, PYUSD and USDG remain fully intact and redemptions continue to operate normally.

This is a rapidly evolving situation. We will provide updates as appropriate as details come to light. As always, Paxos will work closely with law enforcement and regulators.