Threshold's tBTC bridge returns to partial service while Aave keeps $120M locked
After a nine-day security halt, Threshold Network's tBTC bridge begins partial operations again, though Aave's $120 million tBTC reserve continues to block new deposits and borrowing activities.
Following a nine-day security-related suspension, Threshold Network's tBTC bridge has begun resuming its onchain functionality, though Aave's reserve containing approximately $120 million worth of tBTC continues to prohibit fresh deposits and borrowing activities using the token.
The bridge's foundational network began its restart process on Sunday, according to Threshold, as node operators equipped with security patches began reconnecting to the system. This group of independent operators works collectively to authorize the movement of Bitcoin and handle both deposit and redemption transactions.
Deposit and redemption requests that were submitted prior to the bridge shutdown are anticipated to be completed once additional operators come back online, though the application will continue blocking new deposit requests, minting operations, and redemptions until a sufficient number of nodes have been restored. No specific timeline for the full restart has been announced by Threshold.
The bridge was originally brought to a halt by Threshold on Oct. 30 to allow operators time to remediate a severe Linux kernel security flaw that posed a risk of enabling remote attackers to run malicious code on servers lacking the necessary patches. According to the project's investigation, no evidence was discovered indicating the vulnerability had been leveraged against any tBTC nodes.
To limit further risk exposure during the period when redemptions were not accessible, Aave implemented a freeze on its tBTC reserve on Ethereum Core on Oct. 31. This protective measure prevents any new tBTC deposits from being made and removes the token's capacity to provide borrowing power, though users with existing positions retain the ability to withdraw their funds and settle their outstanding loans.
According to Threshold, approximately 4,320 BTC currently resides in bridge wallets, backing around 4,185 tBTC that is presently in circulation, with monitoring systems detecting no unauthorized Bitcoin transfers or illicit token minting activities. Aave's risk assessment partner LlamaRisk has indicated plans to submit a proposal for unfreezing the reserve once Threshold's bridge operations have fully stabilized and returned to normal functioning.