Stream Finance paused all deposits and withdrawals on its platform after reports disclosed that an external fund manager tied to the protocol suffered a loss of about $93 million.

According to Stream’s disclosure, the move came as the team sought time to investigate the damage and to stabilize core functions.

Operations Suspended After Major Loss

Reports have disclosed that user deposits on the protocol were roughly $160 million, while total assets that had been put to work in various strategies exceeded $520 million.

The protocol’s stable token, xUSD, lost its close tie to $1 and traded near $0.51 at one point, a sharp loss of confidence that pushed some users to pull funds off the platform.

On-chain trackers show total value locked fell from about $204 million at the end of Octob

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