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Stream Finance Suspends Operations After Losing $93 Million
Stream Finance has suspended all asset transactions after losing $93 million. According to the company, the loss was reported by an external manager who controlled part of Stream's funds.
The incident is believed to be related to a hack of Balancer, but the exact cause has not yet been determined.
The Stream team stated that withdrawals and deposits have been temporarily suspended, and pending transactions will not be processed. Following the incident, the xUSD (Staked Stream USD) token lost its peg to the dollar and fell to $0.26.
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