DeFi sleuths trace $284M in loans and stablecoin risk linked to Stream Finance

Decentralized finance (DeFi) researchers from Yields and More (YAM) have traced over $284.9 million in outstanding debt across various lending markets linked to the collapsed Stream Finance protocol. This exposure involves synthetic assets like xUSD, xBTC, and xETH across platforms such as Euler, Silo, Morpho, and Gearbox. Key affected entities include TelosC with roughly $123 million in exposure and Elixir with $68 million lent to Stream, which reportedly constitutes 65% of Elixir's stablecoin backing. Stream Finance recently paused deposits and withdrawals after reporting a $93 million loss attributed to an external fund manager, prompting an investigation by the law firm Perkins Coie. The incident highlights ongoing concerns regarding transparency and layered exposures within DeFi's high-yield infrastructures, as the depegging of Stream’s xUSD token reflects user fear.

(Source：Cointelegraph)