The Bitcoin cross-chain protocol Threshold has suspended tBTC minting and redemption

On October 31, the Bitcoin cross-chain protocol Threshold Network announced that it has temporarily suspended new BTC deposits and tBTC minting through the Threshold application, as well as new Bitcoin redemption requests. This arrangement is a precautionary measure before the completion of security maintenance.

Threshold stated that pending redemptions may still be processed on the Bitcoin network, but final settlements on Ethereum have been paused, and some transactions may experience delays. During the suspension, users should not send BTC to previously generated deposit addresses, nor should they initiate new deposits, minting, or redemptions through other interfaces. Users who have deposited BTC should retain their deposit receipts and transaction hashes, avoid resending transactions to clear pending statuses, and can check the status in the in-app Explorer.

This suspension does not affect the holding, transfer, or use of tBTC. Threshold stated that it will release confirmed updates through official channels and provide an estimated time for resuming normal operations when possible. Threshold Network is the issuer of tBTC, positioned as a trust-minimized Bitcoin cross-chain solution, with its official introduction stating that the cross-chain scale is approximately $5.2 billion, and the collateralized lending scale is approximately $2.4 billion.