Threshold Network temporarily suspended new BTC deposits and tBTC minting through its app, as well as new Bitcoin redemption requests, on October 31. According to ChainCatcher, the measure is a precaution while security maintenance is completed.
Pending redemptions may still be paid on the Bitcoin network, but final settlement on Ethereum is paused, and some transactions may be delayed. During the suspension, users should not send BTC to previously generated deposit addresses or initiate new deposits, minting, or redemptions through other interfaces. Users who have already deposited BTC should keep their deposit receipts and transaction hashes, avoid resending transactions to clear pending statuses, and check progress in the app’s Explorer.
The suspension does not affect holding, transferring, or using tBTC. Threshold said it will share confirmed updates through official channels and provide an estimated time for normal operations to resume when available.