At current limits, about 57,600 ETH can enter and about 57,600 ETH can exit each day, so large moves build up as queues. Coins that leave then go through a separate withdrawal process before they reach their owners’ wallets.
Most of the jump in withdrawals has come from MetaMask. The company, best known for its cryptocurrency wallet, also runs validators for Lido, a service that pools users’ ether for staking. At the time, Ethereum security researcher Kaden estimated the precautionary exits covered roughly 17,000 validators holding about 523,000 ETH, figures MetaMask has not confirmed.
MetaMask disclosed a security incident on Sept. 30 and began taking affected validators out of service. An Oct. 1 update said its investigation had found no indication that wallets or customer funds had been affected.
That makes most of the exit queue a temporary detour for one operator’s coins. Lido expects the ether to return gradually as the affected validators leave, their balances are withdrawn and the coins enter staking again. It estimated the whole process could take up to about 45 days, with affected validators missing rewards while they are out of service.
“No action is required from stETH holders,” Lido said last week, referring to the token that represents users’ stake in the service.
