It Was Paxos who made the 500k fee mistake, not PayPal

In a recent statement Paxos took the blame for the huge fee paid for a small blockchain transaction.

Twitter user earlier went viral tracking the transaction to PayPal, but it appears not to be the case.

"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 USD (PYUSD) and Pax Dollar (USDP), but also runs a crypto brokerage firm.

The statement comes after Twitter users 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 theirs"

Sourse: https://cointelegraph.com/news/paxos-confirms-responsible-for-500k-mistaken-bitcoin-transaction