Overview
- Stream Finance suspended all deposits and withdrawals, with pending deposits on hold until further notice, following the reported loss.
- The project retained Perkins Coie partners Keith Miller and Joseph Cutler to conduct a formal investigation into the incident.
- Stream said it is withdrawing remaining liquid assets from external management and expects that process to finish soon.
- Stream’s stablecoin XUSD fell drastically from its $1 target, trading near $0.50 and dipping to about $0.30 according to CoinGecko reports.
- Pseudonymous analyst YAM estimates roughly $285 million in loans are secured by Stream-linked collateral across Euler, Morpho and Silo on multiple networks, with additional exposures such as Elixir’s deUSD lending position detailed in his analysis.