Paxos joined Tether and Circle in blocking funds tied to the suspected Binance security incident. Its statement on X says onchain analysis showed PAXG gold tokens held on Binance were moved to the suspected attacker's address.

After confirming the transfers with its own blockchain investigation, Paxos froze 1,906.67 PAXG in wallet 0x5227f603C1eE34CE3C06eFe6477003BDfCCB2f8c. Tether and Circle have together frozen roughly $1.8B in USDT and USDC linked to the same incident.

Paxos says its own systems were not affected, and reserves for PAXG, PYUSD and USDG remain fully intact with redemptions operating normally.

The company called the situation rapidly evolving and said it will work with law enforcement and regulators as details emerge.