Paxos incident

Paxos - USDC (Ethereum & Base) Conversions Delayed

Minor Resolved View vendor source →

Paxos experienced a minor incident on August 24, 2026 affecting Stablecoin Orchestrations and Orchestrations API, lasting 10h 49m. The incident has been resolved; the full update timeline is below.

Started
Aug 24, 2026, 02:00 PM UTC
Resolved
Aug 25, 2026, 12:50 AM UTC
Duration
10h 49m
Detected by Pingoru
Aug 24, 2026, 02:00 PM UTC

Affected components

Stablecoin OrchestrationsOrchestrations API

Update timeline

  1. investigating Aug 24, 2026, 05:33 PM UTC

    We are currently experiencing delays in processing conversions involving USDC on the Ethereum network. Customers can continue to submit conversions but may experience delays in processing. Conversions involving other assets and networks are not affected.

  2. monitoring Aug 24, 2026, 09:33 PM UTC

    Processing times for USDC conversions on the Ethereum and Base networks have returned to normal. We are monitoring recovery.

  3. monitoring Aug 25, 2026, 02:10 AM UTC

    We are continuing to monitor for any further issues.

  4. resolved Aug 25, 2026, 02:15 AM UTC

    This incident has been resolved.