Threshold Network said on Oct. 31 that it has temporarily paused new BTC deposits and tBTC minting through the Threshold app, along with new Bitcoin redemption requests. The protocol described the move as a precautionary step while security maintenance is being completed. According to the announcement, pending redemptions may still be paid out on the Bitcoin network, but final settlement on Ethereum has been paused, which means some transactions could face delays. The team also warned users not to send BTC to previously generated deposit addresses during the suspension and not to initiate new deposits, mints or redemptions through other interfaces. Users who have already deposited BTC were told to keep their deposit records and transaction hashes, avoid resending transactions to clear pending status, and check progress through the in-app Explorer. Threshold added that holding, transferring and using tBTC are not affected. The project said confirmed updates will be released through official channels, including an estimated timeline for restoring normal operations when available.
According to ChainCatcher, Bitcoin cross-chain protocol Threshold Network said on Oct. 31 that it has temporarily paused new BTC deposits and tBTC minting through the Threshold app, as well as new Bitcoin redemption requests. The protocol said the measure is a precaution while security maintenance is being completed.
What has been paused
Threshold said pending redemptions may still be paid on the Bitcoin network. Final settlement on Ethereum, however, has been paused, and some transactions may be delayed.
During the suspension, users were told not to send BTC to deposit addresses that had already been generated. The project also said users should not start new deposits, mints or redemptions through other interfaces.
Guidance for users with pending activity
For users who have already deposited BTC, Threshold said they should keep deposit records and transaction hashes. It also warned them not to resend transactions in an attempt to clear pending status. Users can check status through the Explorer inside the application.
The protocol added that the pause does not affect holding, transferring or using tBTC.
Next updates
Threshold said it will publish confirmed updates through its official channels and will provide an estimated time for restoring normal operations when that information becomes available.
Threshold Network is the issuer of tBTC and describes itself as a trust-minimized Bitcoin cross-chain solution. According to its official description, the protocol has about $5.2 billion in cross-chain scale and about $2.4 billion in collateralized lending scale.
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