ETH Staking Withdrawal Queue Increases to 2-Year High

While Vitalik Buterin celebrates successes projects involved in improving the speed and decentralization of the blockchain Ethereum, the waiting period for the withdrawal of staked Ethereum has reached 45 days. This is the longest period in the last two years.

According to the validator queue control panel Ethereum, the day before yesterday, the amount of staked ETH in the withdrawal queue increased by 60% from one million ($5,7 billion) to two and a half million ($11,7 billion).

However, despite the large amount of ETH in the withdrawal queue, this is only 7% of the total volume of ethers on staking.

The amount of staked ETH in the exit queue exceeds the value of $11,7 billion

The sharp jump is attributed to “an organized exit by Kiln from all of its validators.” Ethereum (ETH)».

This “precautionary measure” was taken after the theft of staking Solana for $41 million from a wallet managed by Kiln. The funds belonged to SwissBorg, for which Kiln acted as a “staking partner.”

In addition to the sharp increase in the amount of ETH in the queue, there was a “massive reduction” of validators Ethereum, which was caused by operator error.»

Slicing is a security mechanism in a PoS network model whereby misbehaving validators can lose some of their ETH when staked.

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