Threshold, Bridge Wallet Reveals 4,320 BTC; tBTC Minting and Redemption Remain Suspended

Threshold Network disclosed that its bridge wallet holds 4,320 BTC while tBTC minting and redemption remain suspended following a security maintenance event, with no loss of BTC collateral or unauthorized issuance reported. In an October 31 follow-up security notice, the network put tBTC circulating supply at approximately 4,185 BTC and gave no timeline for resuming deposits and redemptions. New BTC deposits, tBTC minting, and new redemption requests via the app are halted until security maintenance concludes, though existing tBTC holders can still hold or transfer tokens to other addresses. Redemptions already in progress can still receive BTC payouts, but final settlement on Ethereum is paused, which may delay some processing. The disclosure matters because tBTC is a major Bitcoin-backed asset on Ethereum, and the gap between the 4,320 BTC in the bridge wallet and the ~4,185 tBTC supply will be scrutinized for backing integrity. Watch for the resumption of minting and redemption, completion of Ethereum-side settlement, and any updates on the scope of the security maintenance.