🚨【Incident Analysis】Technical error leads to a massive issuance of 300 trillion dollars
💸 Incident Review
In October, the stablecoin issuer Paxos accidentally issued 300 trillion dollars worth of PYUSD stablecoin due to an internal technical error. Although the team completed an emergency destruction within 22 minutes, the incident exposed key risks in the stablecoin protocol.
🔍 Root Cause of the Vulnerability
Lack of basic verification in smart contracts: No parameter validation set for the issuance operation
Over-centralized permission management: Single point of control poses operational risks
Lack of a circuit breaker mechanism: Abnormal operations failed to trigger an automatic pause
🛡️ Protection Measures
✅ Critical operations must have multi-signature validation
✅ Establish a tiered approval mechanism for transaction limits
✅ Deploy real-time monitoring and automatic circuit breaker systems
✅ Regularly conduct extreme scenario stress tests
💡 Warning
"Stablecoins, as the infrastructure of the crypto market, have their security directly affecting the stability of the entire ecosystem. Code audits must cover all management functions, not just core business logic."
#稳定币安全 #智能合约审计 #DeFi风险