Swell DAO Keys Hacked: Price Manipulation and 2500 ETH Loss

Attackers gained access to Swell DAO's private keys, including control over the token price update bot. This led to an artificial inflation of swETH and rswETH asset values.

Compromised keys enable quote manipulation

Since the breach, the prices of swETH and rswETH tokens have been artificially rising by 1% per hour. This growth is not backed by real collateral or fundamental project indicators.

Potential damage assessment and current status

The potential financial damage from the incident is estimated at 2500 ETH. However, the hacker has not yet managed to withdraw the stolen funds from the protocol. The previously used Ethereum Layer-2 network was blocked by administration back in April 2026.