{"id":90649,"date":"2025-11-04T19:34:07","date_gmt":"2025-11-04T16:34:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90649"},"modified":"2025-11-04T19:35:21","modified_gmt":"2025-11-04T16:35:21","slug":"collateral-damage-from-stream-finance-hack-estimated-at-285-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/collateral-damage-from-stream-finance-hack-estimated-at-285-million\/","title":{"rendered":"Collateral Damage from Stream Finance Hack Estimated at $285 Million"},"content":{"rendered":"<p>The attack on the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a> protocol Stream Finance could result in collateral losses amounting to approximately $285 million, affecting collateral and lending positions. This conclusion was reached by analysts at YieldsAndMore (YAM).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This is a massive loss. It&#8217;s unclear how this will be settled in between xUSD\/xBTC\/xETH holders and lenders against these tokens, so let\u2019s go over all stablecoins\/vaults that have (in)direct exposure to Stream.<\/p>\n<p>Best we can tell, these stablecoins have indirect exposure:<br \/>Elixir\u2019s\u2026 <a href=\"https:\/\/t.co\/QEPsWf1fM2\">https:\/\/t.co\/QEPsWf1fM2<\/a><\/p>\n<p>\u2014 YAM \ud83c\udf31 (@yieldsandmore) <a href=\"https:\/\/twitter.com\/yieldsandmore\/status\/1985571764441579649?ref_src=twsrc%5Etfw\">November 4, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On November 4, the platform <a href=\"https:\/\/forklog.com\/en\/news\/stream-finance-halts-operations-following-93-million-loss\">suspended<\/a> operations following a $93 million hack. The incident caused the Staked Stream USD (xUSD) token to lose its peg, plummeting from $1.3 to $0.3.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is a colossal loss. It is unclear how issues between xUSD\/xBTC\/xETH holders and lenders using these tokens will be resolved,\u201d noted YAM.<\/p>\n<\/blockquote>\n<p>According to researchers, the collapse of xUSD affected several \u201cstablecoins\u201d and treasuries. Among the stablecoins, two projects could be impacted:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>deUSD<\/strong>: The token issuer Elixir provides Stream with a <a href=\"https:\/\/t.co\/2nQkykFlUo\">loan of 68 million USDC<\/a>. This amount constitutes 65% of deUSD&#8217;s collateral. Stream&#8217;s main wallet uses these funds as collateral for xUSD. Elixir claims to have \u201cfull redemption rights at $1 from Stream within the credit position.\u201d However, the hacked protocol&#8217;s team cannot repay the funds \u201cuntil lawyers determine who owes what.\u201d<\/li>\n<li><strong>scUSD from Treeve<\/strong>: eliteRingsScUSD is backed by veUSD \u2192 veUSD is backed by stkscUSD \u2192 stkscUSD is backed by scUSD, which are in a \u201ccollateral loop\u201d on the Mithras, Silo, and Euler platforms backed by xUSD.<\/li>\n<\/ul>\n<p>Stream Finance&#8217;s total debt of $285 million to DeFi lenders is distributed across the following platforms:<\/p>\n<ul class=\"wp-block-list\">\n<li>TelosC \u2014 $123.6 million;<\/li>\n<li>Elixir (in question) \u2014 $68 million;<\/li>\n<li>MEV Capital \u2014 $25.4 million;<\/li>\n<li>Varlamore \u2014 $19.1 million;<\/li>\n<li>Re7 \u2014 $14.2 million;<\/li>\n<li>Enclabs \u2014 $2.5 million;<\/li>\n<li>Mithras \u2014 $2.3 million;<\/li>\n<li>TiD \u2014 $0.3 million;<\/li>\n<li>Invariant Group \u2014 $720,000.<\/li>\n<\/ul>\n<p>Also at risk are <a href=\"https:\/\/forklog.com\/en\/news\/delta%e2%80%91neutral-synthetic-dollars-why-the-usde-stablecoin-matters\">\u201csynthetic\u201d<\/a> tokens xUSD, xBTC, and xETH. They are used as collateral on Euler, Silo, Morpho, and Sonic.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe picture is still incomplete. We expect more affected treasuries to be identified as positions are closed and credit contracts are reviewed,\u201d noted YAM.<\/p>\n<\/blockquote>\n<p>Earlier, on November 3, it was reported that the DeFi protocol Balancer had been hacked. Hackers <a href=\"https:\/\/forklog.com\/en\/news\/balancer-defi-protocol-suffers-128m-hack\">extracted<\/a> at least $128 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The attack on the DeFi protocol Stream Finance could result in collateral losses amounting to approximately $285 million, affecting collateral and lending positions.<\/p>\n","protected":false},"author":1,"featured_media":90650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Losses on major credit and collateral positions exceed $280 million.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,1093,1097],"class_list":["post-90649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-defi","tag-lending"],"aioseo_notices":[],"amp_enabled":true,"views":"758","promo_type":"1","layout_type":"1","short_excerpt":"Losses on major credit and collateral positions exceed $280 million.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90649"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90649\/revisions"}],"predecessor-version":[{"id":90651,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90649\/revisions\/90651"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90650"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}