Swell Pauses swETH and rswETH Deposits and Withdrawals Amid Abnormally High Contract Exchange Rates According to Unchained, Ethereum staking protocol Swell has paused deposits and withdrawals for swETH and rswETH until it corrects the net asset values (NAV) and exchange rates of both tokens. Data shows that the swETH and rswETH contracts reported exchange rates of approximately 1.203 ETH and 1.138 ETH, respectively, about 6% and 5% higher than normal levels. On-chain analyst Spreek suspected a compromise of the relevant token admin keys and identified a malicious upgrade contract that could potentially impact around 2,500 ETH, though the upgrade has not yet been executed. Swell stated that no ETH has been transferred out of the affected contracts and that the exact cause remains under investigation.