tBTCThreshold: tBTC fully backed, no unauthorized minting during pause
Threshold Network temporarily paused new BTC deposits/tBTC minting and new Bitcoin redemption requests through the Threshold app as a precaution while security maintenance is completed. In follow-up security updates — repeated via tBTC's X account — Threshold said tBTC remains fully backed and no funds were lost: 4,320 BTC sits in the bridge wallets against roughly 4,185 tBTC in circulation, with no unauthorized minting or movement of BTC observed, and reserves can be verified on-chain.
Sources
- Latest Bridge Update as of 11-1-26: https://t.co/bypJhTe0yOx.com ↗
- RT @aave: As a routine, proactive step following @TheTNetwork’s maintenance update on tBTC, we’ve restricted new tBTC deposits and new borr…x.com ↗
- RT @TheTNetwork: tBTC pause and security update tBTC remains fully backed, and no funds have been lost. About 4,320 BTC sits in the bridge…x.com ↗
- tBTC pause and security update tBTC remains fully backed, and no funds have been lost. About 4,320 BTC sits in the bridge wallets against roughly 4,185 tBTC in circulation, and we've seen no unauthorized minting or movement of BTC. You can verify the backing on-chain here: https://t.co/eXewQhEjZLx.com ↗
- RT @TheTNetwork: tBTC pause and security update tBTC remains fully backed and no funds have been lost. Currently, 4,320 BTC sits in the br…x.com ↗
- tBTC pause and security update tBTC remains fully backed and no funds have been lost. Currently, 4,320 BTC sits in the bridge wallets against roughly 4,185 tBTC in circulation, and we've seen no unauthorized minting. Reserves can be verified on-chain here: https://t.co/N8H0JTs5p1x.com ↗
- RT @TheTNetwork: tBTC minting and redemptions temporarily paused We have temporarily paused new BTC deposits/tBTC minting and new Bitcoin…x.com ↗
- tBTC minting and redemptions temporarily paused We have temporarily paused new BTC deposits/tBTC minting and new Bitcoin redemption requests through the Threshold app as a precaution while security maintenance is completed. Pending redemptions may still be paid on Bitcoin, butx.com ↗
tBTC
tBTC is a decentralized wrapped Bitcoin that is 1:1 backed by main-net BTC. Unlike other wrapped Bitcoins, the BTC that backs tBTC is not held by a central intermediary, but is instead held by a decentralized network of nodes using threshold cryptography.
tBTC is trust minimized and redeemable for main-net BTC without a centralized custodian. It can be used across the entire DeFi ecosystem.
tBTC can be used as collateral, liquidity, a store of value, and can be integrated with DeFi apps across all blockchains.
As with other BTC wrappers, tBTC provides cryptocurrency traders and general users with a non-volatile BTC token, that can be used to generate yield whilst holding main-net BTC.
