Bridge back onchain, app still closed
Threshold Network said Nov. 8 that its tBTC bridge had resumed onchain after security maintenance. The restart came nine days after the pause began. But the app was still closed to new deposits, minting and Bitcoin redemptions at the time of the update.
Operators are reconnecting on patched systems. Threshold said the bridge will return to full operation as more of them come back online. Its app still showed a notice that BTC deposits and redemptions were temporarily paused. The interface will reopen once enough operators are online to process deposits, mints and redemptions promptly, the network said.
Deposits and redemption requests made before the pause remain safe and will be processed as operators reconnect. That point matters for users who may be watching balances while the front end stays dark.
Users told not to reuse old addresses
Threshold told users not to send BTC to previously generated deposit addresses or resubmit pending transactions. Once the interface returns, users should start a new deposit instead of reusing an old address. The warning is practical. Old addresses were tied to a paused flow, and sending to them now could create confusion even if funds are not lost.
The tBTC bridge lets Bitcoin holders use BTC in DeFi. Deposited Bitcoin is secured by groups of network operators. Threshold paused new deposits, minting and Bitcoin redemption requests on Oct. 30. Holding and transferring tBTC were not affected.
In a Nov. 2 security update, Threshold said all tBTC nodes were either patched or offline as operators addressed a Linux kernel vulnerability. Bridge wallets require a majority of independent operators to sign Bitcoin transactions. The network again said tBTC remained fully backed. Its explorer displayed 4,320.46 BTC in bridge wallets, while Etherscan showed an Ethereum token supply of about 4,185.17 tBTC during reporting.
Aave freeze remains in place
Aave’s Ethereum Core tBTC reserve remained frozen, with about $119.9 million supplied, according to its interface. Aave froze the reserve on Oct. 31 after the bridge pause. The freeze blocks new tBTC deposits and additional borrowing against the token. Repayments, withdrawals and liquidations continue, according to Aave risk service provider LlamaRisk.
LlamaRisk said the freeze itself does not change existing positions’ health factors or make them liquidatable. The bridge restart does not lift those lending restrictions. LlamaRisk said it would propose restorative measures once it has assurance that tBTC operations have returned to normal. For now, the onchain bridge is moving again, but the app and Aave market are not fully back to normal.
