DeFi Security: Swell Protocol Admin Key Compromise
Swell's swETH and rswETH tokens have been frozen since Friday following what appears to be a compromised admin key; an onchain analyst flagged the anomaly early, potentially limiting the damage.
What we know
An account on X reports that Swell's swETH and rswETH have been frozen since Friday. On the preceding Wednesday night, onchain analyst spreek spotted that the admin keys appeared compromised and the exchange rate was being pushed up by a maximum of 1% per hour — abnormal behavior that flagged the attack before it could cause full damage. The tokens remain frozen as of the report.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.