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The automations bound to that channel are paused, the messages queued for it are cancelled, and inbound messages keep being saved. Nothing is deleted and no history is lost.
Pausing is deliberate. The alternative is letting every run fail one message at a time, which fills your logs with noise, burns retries, and can look like unsolicited traffic to the platform if it goes on.
What gets paused is narrower than it sounds. If the flow can still run on another connected account of the same type, it keeps running. Only flows that have no usable account left are paused.
Coming back used to be the awkward part, and this is worth knowing if you hit it before: reconnecting the channel did not resume the automations, so people fixed the channel and stayed silent for days without realising. Automations that the system paused now come back on their own when the channel recovers, and the ones you paused by hand are left alone, because a flow you chose to stop should not start sending because a channel came back.
If you are debugging silence, check the channel first and the automation status second. Both being green is the only state that sends.