Swell Suspends swETH and rswETH Deposits and Withdrawals, Will Resume After Correcting Net Asset Value

October 24: According to an announcement published by Swell on October 23, the team has suspended deposits and withdrawals for swETH and rswETH and is working with security partners and the emergency response team Seal911 to strengthen infrastructure security. The next step to restoring normal operations is to correct the net asset value (NAV) of both tokens to the correct level, after which deposit and withdrawal services will reopen. Swell said all funds are safe, has not announced a recovery timeline, and reminded users to be wary of related phishing information. Previously, Swell said it was investigating suspicious activity in the swETH and rswETH contracts.