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Threshold Network pauses tBTC minting and redemption; Aave restricts new deposits and borrowing for $136 million tBTC market.
Decentralized lending protocol Aave has restricted new deposits and borrowing against its $136 million tokenized Bitcoin (tBTC) market after Threshold Network paused tBTC minting and redemption on October 31 for undisclosed security maintenance. Threshold stated that tBTC remains fully collateralized and no funds have been lost. This move prompted Aave's risk service provider, LlamaRisk, to recommend an immediate freeze of tBTC, while other DeFi risk management firms like Gauntlet have also taken steps to reduce exposure.
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