Stream Finance pauses platform after finding $93M loss
Stream Finance is investigating a $93 million loss and has paused deposits and withdrawals, which has caused its stablecoin to depeg to $0.50.
Decentralized finance platform Stream Finance says it has paused deposits and withdrawals after an external fund manager overseeing its funds found a $93 million loss in its assets.
The Stream Finance team said in an X post on Monday that the fund manager reported the loss on Sunday and the project has since hired lawyers from Perkins Coie to investigate the incident.
“We are actively withdrawing all liquid assets and expect this process to be completed in the near term,” it said. “We will provide periodic updates as additional information becomes available.”
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