Swell has suspended deposits and withdrawals for its liquid staking tokens swETH and rswETH following suspicious activity in the contracts. The team is working with security partners and emergency response firm Seal911 to strengthen infrastructure security, according to an October 23 announcement. Restoration of normal operations will require correcting the net asset value (NAV) of both tokens to their proper levels before deposit and withdrawal services reopen. Swell confirmed all funds remain safe but did not provide a recovery timeline, warning users to be cautious of phishing attempts related to the incident.