As per TechFlow, DeFi experienced a disastrous week with multiple major incidents. Balancer, a top DeFi protocol, was exploited for $128 million. Stream Finance, a stablecoin yield protocol, announced a $93 million loss and is preparing for bankruptcy. Moonwell lost $1 million in an attack, while Peapods' TVL dropped to zero due to liquidations. Stream Finance's xUSD stablecoin collapsed after a bank run triggered by transparency concerns, impacting lenders on Euler, Morpho, and Silo. At least $284 million in DeFi debt is now tied to Stream Finance, with much of it likely unrecoverable.
DeFi Week of Woe: $128M Lost in Balancer Exploit, Stream Finance Collapses
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