The DeFi protocol Stream Finance has encountered a significant asset security incident. According to the latest disclosure from the project party, an external fund manager responsible for overseeing the capital pool experienced anomalies, resulting in losses of up to 93 million USD.

In response to this sudden situation, the Stream team quickly took action: all withdrawal channels have been urgently closed, and the well-known law firm Perkins Coie LLP has been engaged. Partners Keith Miller and Joseph Cutler from the firm will lead a thorough investigation to trace the flow of funds and the causes of the incident.

This nearly hundred million dollar loss has once again sounded the alarm for the DeFi ecosystem— even when outsourced to professional institutions for management, asset security still faces systemic risks.