Swell Pauses swETH and rswETH Deposits and Withdrawals to Correct NAV

A liquid restaking protocol freezing both deposits and withdrawals is a more serious signal than a routine maintenance pause, because it removes the exit route that holders of these tokens rely on. The stated reason — correcting NAV — points to a valuation or accounting discrepancy rather than a market event, which matters for anyone holding swETH or rswETH and for protocols that accept them as collateral. The absence of a timeline is the key gap: whether Swell discloses the scope of the NAV error and a reopening schedule is the open question worth watching.