Protocol freezes token withdrawals after exchange rates increase unexpectedly
Image: UnchainedSwell paused deposits and withdrawals for swETH and rswETH on Friday. The protocol acted after the contract rates rose above normal levels. The swETH contract showed a rate near 1.203 ETH and rswETH stood near 1.138 ETH. The team stated that no ETH has left the affected contracts. Swell has not announced a reopening date or confirmed a cause for the rate changes.
Key points
- Swell paused deposits and withdrawals for swETH and rswETH.
- The swETH contract showed a rate near 1.203 ETH and rswETH stood near 1.138 ETH.
- Swell stated that no ETH has left the withdrawal or deposit contracts.
- The team has not given a reopening date or confirmed a cause.
Why it matters
Users holding swETH and rswETH cannot deposit or withdraw funds through the protocol while the pause remains in effect.
What's unclear
The exact cause of the inflated exchange rates remains unconfirmed by the Swell team.
Price context · ETH
At publication
$2,368.17
Now
$2,333.35
Change since
−1.47%
7 days · dashed line = publication
Sources · 3 publishers
Unchained
Tier 1
Swell Freezes swETH and rswETH Withdrawals Until It Corrects Their Exchange Rates
Blockonomi
Tier 3
Swell Pauses swETH and rswETH Deposits and Withdrawals Over Inflated Exchange Rates
Coverage timeline
- First reported by The Defiant
- Also reported by Unchained
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
JST
+0.1%
NEXO
−0.9%
VSN
−0.4%
