Wu Blockchain reported, citing Unchained, that Ethereum staking protocol Swell has paused deposits and withdrawals for its liquid staking tokens swETH and rswETH to correct their Net Asset Value (NAV) and exchange rates. Data shows that the reported exchange rates for swETH and rswETH contracts were approximately 1.203 ETH and 1.138 ETH, respectively, which is about 6% and 5% higher than normal. On-chain analyst Spreek suspects that the related token management keys might have been compromised and discovered a malicious upgrade contract that could affect approximately 2,500 ETH, though the upgrade has not yet been executed. Swell stated that no ETH has been transferred from the affected contracts, and the exact cause is still under investigation.