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Oct 22, 2026

Swell pauses swETH and rswETH withdrawals after exchange rate manipulation

Swell halted deposits and withdrawals for its swETH and rswETH liquid staking tokens after researchers flagged that someone with operational keys pushed up exchange rates at the 1% hourly cap without backing, following a Railway key leak disclosure.

Oct 22, 2026·3 sources

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Top claims

▪On October 21, 2026, crypto investigator Tay reported that an attacker drained approximately $371,000 from wallets across at least 19 EVM chains using private keys stored on Railway
▪Swell DAO paused deposits and withdrawals for swETH and rswETH tokens on October 23, 2026, stating operations would remain frozen until net asset values return to correct values
▪Cloud deployment platform Railway announced on October 21, 2026 that an unauthorized third party accessed systems storing customer environment variables, potentially compromising stored API keys and registry credentials

Topics

Ethereum Ethereum staking & validators Crypto security Price & market manipulation Liquid staking Crypto hacks Private key compromise DeFi

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