Swell Network Pauses swETH and rswETH Amid Redemption Rate Discrepancy
Swell Network has halted deposits and withdrawals for its liquid staking tokens after a discrepancy emerged between the reported and market rates.
Swell Network has halted deposits and withdrawals for its liquid staking tokens after a discrepancy emerged between the reported and market rates. Ethereum (ETH) is trading at ₹2,26,036 ($2,378.41). This is an original Token Times brief synthesising 2 outlets (Live Bitcoin News, Unchained), plus live market data, as of Sat, 24 Oct 2026 03:00:01 UTC.
The incident highlights potential risks in liquid staking mechanisms and raises concerns about the reliability of tokenized staking derivatives. It also underscores the need for robust security measures in decentralized finance protocols.
- Swell Network paused swETH and rswETH deposits/withdrawals on October 23.
- Token redemption is currently suspended, with DEX prices below reported rates.
- Swell is working with security partners to address the issue.
Multiple outlets, including Live Bitcoin News and Unchained, confirm that Swell Network has paused deposits and withdrawals for its liquid staking tokens swETH and rswETH. They agree that the pause was triggered by a discrepancy between the tokens' reported redemption rates and their actual market values on decentralized exchanges. However, while Live Bitcoin News emphasizes Swell's collaboration with security partners to resolve the issue, Unchained focuses on the current inability of holders to redeem their tokens through Swell.
Swell Network, a liquid staking platform for 
Ethereum, has temporarily halted deposits and withdrawals for its liquid staking tokens swETH and rswETH. The pause was initiated after the network detected a discrepancy in the redemption rate of these tokens.
According to reports, the redemption rate of swETH started to climb without the corresponding increase in the underlying Ethereum (ETH) reserves. This discrepancy has led to a situation where the tokens' reported value does not match their market value on decentralized exchanges.
Both Live 
Bitcoin News and Unchained corroborate that Swell Network has paused operations to address the issue. They also agree that the tokens are currently trading on decentralized exchanges at values significantly below the inflated rates reported by Swell's contracts.
Swell Network is working with security partners and Seal911 to secure its infrastructure and restore the net asset value of the tokens. The network has not yet provided a timeline for when deposits and withdrawals will resume.
In the broader market context, the total cryptocurrency market cap stands at $2.78 trillion, with Bitcoin down 0.43% in the last 24 hours. Ethereum, the underlying asset for swETH, is trading at $2379.6, showing a slight 0.33% decline over the same period.
Since this brief published about 14 hours ago, Ethereum (ETH) has moved from ₹2,26,148.84$2,379.60 to ₹2,26,035.74$2,378.41 — -0.05%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₹242,324.3 (about $2,378.41), down 0.9% over 24 hours. The rupee itself trades about 7.2% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 24, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Swell Network Pauses swETH and rswETH Amid Redemption Rate D — questions & answers
Why did Swell Network pause swETH and rswETH deposits/withdrawals?
The pause was triggered by a discrepancy between the tokens' reported redemption rates and their actual market values on decentralized exchanges.
Can holders still redeem their swETH and rswETH tokens?
No, token redemption is currently suspended according to multiple reports.
What is Swell Network doing to resolve the issue?
Swell is collaborating with security partners and Seal911 to secure its infrastructure and restore the tokens' net asset value.
How much is 1 Ethereum worth in rupee today?
About ₹242,324.3 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $2,378.41. The rupee price moves with both ETH's US-dollar price and the USDT/INR rate; use our Ethereum in rupee page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is down 0.05% since this brief first published — trading at ₹2,26,036 ($2,378.41) now versus ₹2,26,149 ($2,379.60) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Live Bitcoin News, Unchained, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.