Nexus Mutual Covers $95K in Claims After Stream Finance’s $93M Loss

Following a dramatic loss of over $93 million for the DeFi platform Stream Finance, Nexus Mutual, a decentralized insurance protocol, stepped in to cover claims totaling over $95,000. The incident highlights the crucial role of on-chain insurance in mitigating risks within the rapidly growing DeFi ecosystem. The cause: a liquidity crisis that triggered cascading losses across various lending platforms and exposed interconnected vulnerabilities within the space. ]