---
title: "Swell Halts swETH and rswETH Deposits and Withdrawals to Correct NAV"
description: "Liquid staking protocol Swell implemented onchain controls halting deposits, withdrawal requests, and ether claims to adjust its net asset value."
url: https://basisdesk.news/news/swell-pauses-sweth-rsweth-deposits-withdrawals-nav
published: 2026-10-23T07:12:17.214Z
modified: 2026-10-23T07:12:17.214Z
section: DeFi
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bearish
tickers: [ETH]
tags: [swell, liquid-staking, ethereum, restaking, defi]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# Swell Halts swETH and rswETH Deposits and Withdrawals to Correct NAV

Liquid staking protocol Swell implemented onchain controls halting deposits, withdrawal requests, and ether claims to adjust its net asset value.

## At a glance

- **What happened:** Swell paused swETH and rswETH deposits, withdrawal requests, and ETH claims to correct its net asset value.
- **Why it matters:** Users are temporarily unable to natively redeem or deposit assets into Swell staking contracts.
- **Who is affected:** Holders of Swell swETH and rswETH tokens seeking to deposit, request withdrawals, or claim ETH.
- **What's next:** No next step announced.
- **Primary source:** [Swell Pauses swETH and rswETH Deposits and Withdrawals](https://thedefiant.io/news/hacks/swell-pauses-sweth-and-rsweth-deposits-and-withdrawals) — thedefiant.io

## Key points

- Swell halted deposits and withdrawals for liquid tokens swETH and rswETH [1].
- The protocol stated it must correct its net asset value (NAV) before reopening operations [1].
- Onchain controls currently block all user withdrawal requests and ETH claims [1].

## Editorial remark

- **Context:** Swell operates as an Ethereum liquid staking and restaking protocol issuing swETH and rswETH tokens [1].
- **Impact:** Users holding swETH and rswETH cannot initiate contract withdrawal requests or claim underlying ETH deposits [1].
- **Watch:** Protocol verification of the net asset value correction and subsequent reopening of onchain deposits and withdrawals [1].

Liquid staking protocol Swell halted deposits and redemptions across its staking tokens, citing an operational need to adjust its net asset value [1].

According to protocol statements, the team must correct the net asset value (NAV) before reopening the affected contracts [1]. In the interim, Swell deployed onchain controls that actively block incoming withdrawal requests, new deposits, and outgoing $ETH claims for both its liquid staking token, swETH, and its liquid restaking token, rswETH [1].

## Halts Implemented Across Staking Contracts

The restrictions target both primary mechanisms of the protocol: swETH, which gives users exposure to Ethereum staking rewards, and rswETH, which incorporates liquid restaking yields [1]. Under the enacted onchain controls, token holders cannot submit redemption queues or extract their underlying staked capital until the protocol completes its NAV balance adjustments [1].

At the time of writing, $ETH traded near $2,402, while broader crypto markets registered neutral sentiment. The halt prevents market participants from unwinding positions via native redemption avenues, confining immediate liquidity for both swETH and rswETH to decentralized secondary automated market maker pools [1]. Protocol controls will keep deposit processing, withdrawal queuing, and contract settlement functions restricted until the NAV correction process is formally resolved [1].

## Sources

1. [Swell Pauses swETH and rswETH Deposits and Withdrawals](https://thedefiant.io/news/hacks/swell-pauses-sweth-and-rsweth-deposits-and-withdrawals) — thedefiant.io, 2026-10-23

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai