Decentralized finance liquidity provider Elixir suspends support for deUSD stablecoin after Stream Finance’s $93 million loss. Elixir processed redemptions for 80% of deUSD holders, causing token to depeg to $0.015. Stream owes $68 million to Elixir, leading to XUSD stablecoin’s 90% plunge. Balancer recovers $19 million from $128 million exploit.

Stream Finance froze withdrawals after revealing $285 million in debt, including $68 million to Elixir. Stream borrowed deUSD to back XUSD stablecoin, which crashed to $0.10. Elixir coordinates with other DeFi protocols to compensate affected holders. Elixir disabled withdrawals to prevent Stream from liquidating deUSD before settling debt.

Balancer’s V2 Composable Stable Pools suffer $128 million exploit. Attacker drains funds through authorization and callback flaws. StakeWise recovers $19.3 million, reducing stolen assets to $98 million. Balancer assures V3 and other pools remain unaffected. Investor confidence shaken, with $6.5 million withdrawn post-hack.

Read more at Yahoo Finance: DeFi Platform Elixir Halts Support for deUSD After Stream Finance’s $93M Loss