Decentralized finance (DeFi) protocol Stream Finance has halted withdrawals and deposits following a significant loss of approximately $93 million reported by an external fund manager. The company cited the need to protect user funds and investigate the incident in order to fully assess the situation. Stream’s stablecoin, xUSD, has also lost its peg to the U.S. dollar, dropping sharply below its intended value of $1. This move comes after legal firm Perkins Coie LLP was appointed to lead a comprehensive investigation into the loss. The protocol assures users that updates will be shared periodically as the investigation unfolds and encourages patience while the internal and external reviews take place.