Swell Probes Suspicious Token Activity and Confirms Zero Outflows After Security Alert

Swell DAO is investigating suspicious activity across its swETH and rswETH contracts, confirming that zero Ether has flowed out of deposit or withdrawal contracts and no theft has occurred. The probe was initiated after on-chain researcher Spreek warned of a suspected admin key compromise, possibly connected to Railway, that deployed four malicious upgrade contracts and artificially raised token net asset values by up to 1% per hour. Spreek flagged roughly 2,500 ETH at risk, but the malicious proposals have not entered the multisignature queue and Swell is collaborating with security partners to safeguard reserves.