Swell’s protocol currently blocks deposits and both steps needed to withdraw either token: submitting a request and claiming ETH.
The reported controls cover deposits and both withdrawal functions: users cannot submit a request or make an ETH claim. Swell’s stated requirement for restoring the affected services is completion of the NAV correction. The restrictions operate through onchain controls at the protocol level.
The pause follows an earlier security review involving contracts related to the same tokens. Swell said no Ether had moved out through linked deposit or withdrawal contracts at the time of its update, while security partners helped examine activity. EconoTimes previously reported on the review of swETH and rswETH contracts.
