diff --git a/libp2p/muxers/mplex/lpchannel.nim b/libp2p/muxers/mplex/lpchannel.nim
index b031cdc7f..cc37083c9 100644
--- a/libp2p/muxers/mplex/lpchannel.nim
+++ b/libp2p/muxers/mplex/lpchannel.nim
@@ -71,7 +71,7 @@ method closed*(s: LPChannel): bool =
 proc closeUnderlying(s: LPChannel): Future[void] {.async.} =
   ## Channels may be closed for reading and writing in any order - we'll close
   ## the underlying bufferstream when both directions are closed
-  if s.closedLocal and s.isEof:
+  if s.closedLocal and s.atEof():
     await procCall BufferStream(s).close()
 
 proc reset*(s: LPChannel) {.async, gcsafe.} =
@@ -79,6 +79,8 @@ proc reset*(s: LPChannel) {.async, gcsafe.} =
     trace "Already closed", s
     return
 
+  s.isClosed = true
+
   trace "Resetting channel", s, len = s.len
 
   # First, make sure any new calls to `readOnce` and `pushData` etc will fail -
@@ -88,17 +90,20 @@ proc reset*(s: LPChannel) {.async, gcsafe.} =
   s.readBuf = StreamSeq()
   s.pushedEof = true
 
-  for i in 0..<s.pushing:
+  let pushing = s.pushing # s.pushing changes while iterating
+  for i in 0..<pushing:
     # Make sure to drain any ongoing pushes - there's already at least one item
     # more in the queue already so any ongoing reads shouldn't interfere
     # Notably, popFirst is not fair - which reader/writer gets woken up depends
     discard await s.readQueue.popFirst()
 
-  if s.readQueue.len == 0 and s.pushing == 0:
-    # There is no push ongoing and nothing on the queue - let's place an
-    # EOF marker there so that any reader is woken up - we don't need to
-    # synchronize here
-    await s.readQueue.addLast(@[])
+  if s.readQueue.len == 0 and s.reading:
+    # There is an active reader - we just grabbed all pushes so we need to push
+    # an EOF marker to wake it up
+    try:
+      s.readQueue.addLastNoWait(@[])
+    except CatchableError:
+      raiseAssert "We just checked the queue is empty"
 
   if not s.conn.isClosed:
     # If the connection is still active, notify the other end
@@ -113,7 +118,7 @@ proc reset*(s: LPChannel) {.async, gcsafe.} =
     asyncSpawn resetMessage()
 
   # This should wake up any readers by pushing an EOF marker at least
-  await procCall BufferStream(s).close() # noraises, nocancels
+  await s.closeImpl() # noraises, nocancels
 
   trace "Channel reset", s
 
@@ -136,7 +141,7 @@ method close*(s: LPChannel) {.async, gcsafe.} =
     except CatchableError as exc:
       # It's harmless that close message cannot be sent - the connection is
       # likely down already
-      trace "Cannot send close message", s, id = s.id
+      trace "Cannot send close message", s, id = s.id, msg = exc.msg
 
   await s.closeUnderlying() # maybe already eofed
 
@@ -167,7 +172,11 @@ method readOnce*(s: LPChannel,
       await s.closeUnderlying()
     return bytes
   except CatchableError as exc:
-    await s.closeUnderlying()
+    # readOnce in BufferStream generally raises on EOF or cancellation - for
+    # the former, resetting is harmless, for the latter it's necessary because
+    # data has been lost in s.readBuf and there's no way to gracefully recover /
+    # use the channel any more
+    await s.reset()
     raise exc
 
 method write*(s: LPChannel, msg: seq[byte]): Future[void] {.async.} =
diff --git a/libp2p/stream/bufferstream.nim b/libp2p/stream/bufferstream.nim
index e2d685913..52ef2d4ce 100644
--- a/libp2p/stream/bufferstream.nim
+++ b/libp2p/stream/bufferstream.nim
@@ -29,8 +29,9 @@ type
     readQueue*: AsyncQueue[seq[byte]] # read queue for managing backpressure
     readBuf*: StreamSeq               # overflow buffer for readOnce
     pushing*: int                     # number of ongoing push operations
-
-    pushedEof*: bool
+    reading*: bool                    # is there an ongoing read? (only allow one)
+    pushedEof*: bool                  # eof marker has been put on readQueue
+    returnedEof*: bool                # 0-byte readOnce has been completed
 
 func shortLog*(s: BufferStream): auto =
   if s.isNil: "BufferStream(nil)"
@@ -91,12 +92,17 @@ method pushEof*(s: BufferStream) {.base, async.} =
   finally:
     dec s.pushing
 
+method atEof*(s: BufferStream): bool =
+  s.isEof and s.readBuf.len == 0
+
 method readOnce*(s: BufferStream,
                  pbytes: pointer,
                  nbytes: int):
                  Future[int] {.async.} =
   doAssert(nbytes > 0, "nbytes must be positive integer")
-  if s.isEof and s.readBuf.len() == 0:
+  doAssert(not s.reading, "Only one concurrent read allowed")
+
+  if s.returnedEof:
     raise newLPStreamEOFError()
 
   var
@@ -105,12 +111,23 @@ method readOnce*(s: BufferStream,
   # First consume leftovers from previous read
   var rbytes = s.readBuf.consumeTo(toOpenArray(p, 0, nbytes - 1))
 
-  if rbytes < nbytes:
+  if rbytes < nbytes and not s.isEof:
     # There's space in the buffer - consume some data from the read queue
-    trace "popping readQueue", s, rbytes, nbytes
-    let buf = await s.readQueue.popFirst()
+    s.reading = true
+    let buf =
+      try:
+        await s.readQueue.popFirst()
+      except CatchableError as exc:
+        # When an exception happens here, the Bufferstream is effectively
+        # broken and no more reads will be valid - for now, return EOF if it's
+        # called again, though this is not completely true - EOF represents an
+        # "orderly" shutdown and that's not what happened here..
+        s.returnedEof = true
+        raise exc
+      finally:
+        s.reading = false
 
-    if buf.len == 0 or s.isEof: # Another task might have set EOF!
+    if buf.len == 0:
       # No more data will arrive on read queue
       trace "EOF", s
       s.isEof = true
@@ -130,6 +147,12 @@ method readOnce*(s: BufferStream,
 
   s.activity = true
 
+  # We want to return 0 exactly once - after that, we'll start raising instead -
+  # this is a bit nuts in a mixed exception / return value world, but allows the
+  # consumer of the stream to rely on the 0-byte read as a "regular" EOF marker
+  # (instead of _sometimes_ getting an exception).
+  s.returnedEof = rbytes == 0
+
   return rbytes
 
 method closeImpl*(s: BufferStream): Future[void] =
diff --git a/libp2p/stream/connection.nim b/libp2p/stream/connection.nim
index b1966b9f0..c9a631479 100644
--- a/libp2p/stream/connection.nim
+++ b/libp2p/stream/connection.nim
@@ -84,7 +84,7 @@ proc timeoutMonitor(s: Connection) {.async, gcsafe.} =
     while true:
       await sleepAsync(s.timeout)
 
-      if s.closed or s.atEof:
+      if s.closed and s.atEof:
         return
 
       if s.activity:
diff --git a/libp2p/stream/lpstream.nim b/libp2p/stream/lpstream.nim
index baec11976..5fbe4538e 100644
--- a/libp2p/stream/lpstream.nim
+++ b/libp2p/stream/lpstream.nim
@@ -129,10 +129,10 @@ method initStream*(s: LPStream) {.base.} =
 proc join*(s: LPStream): Future[void] =
   s.closeEvent.wait()
 
-method closed*(s: LPStream): bool {.base, inline.} =
+method closed*(s: LPStream): bool {.base.} =
   s.isClosed
 
-method atEof*(s: LPStream): bool {.base, inline.} =
+method atEof*(s: LPStream): bool {.base.} =
   s.isEof
 
 method readOnce*(s: LPStream,
@@ -272,6 +272,13 @@ method close*(s: LPStream): Future[void] {.base, async.} = # {.raises [Defect].}
 proc closeWithEOF*(s: LPStream): Future[void] {.async.} =
   ## Close the stream and wait for EOF - use this with half-closed streams where
   ## an EOF is expected to arrive from the other end.
+  ##
+  ## Note - this should only be used when there has been an in-protocol
+  ## notification that no more data will arrive and that the only thing left
+  ## for the other end to do is to close the stream gracefully.
+  ##
+  ## In particular, it must not be used when there is another concurrent read
+  ## ongoing (which may be the case during cancellations)!
   await s.close()
 
   if s.atEof():
diff --git a/tests/testbufferstream.nim b/tests/testbufferstream.nim
index 866e3e62b..460838bc8 100644
--- a/tests/testbufferstream.nim
+++ b/tests/testbufferstream.nim
@@ -142,6 +142,54 @@ suite "BufferStream":
     check str == str2
     await buff.close()
 
+  asyncTest "read all data after eof":
+    let buff = newBufferStream()
+    check buff.len == 0
+
+    await buff.pushData("12345".toBytes())
+    var data: array[2, byte]
+    check: (await buff.readOnce(addr data[0], data.len)) == 2
+
+    await buff.pushEof()
+
+    check:
+      not buff.atEof()
+      (await buff.readOnce(addr data[0], data.len)) == 2
+      not buff.atEof()
+      (await buff.readOnce(addr data[0], data.len)) == 1
+      buff.atEof()
+      # exactly one 0-byte read
+      (await buff.readOnce(addr data[0], data.len)) == 0
+
+    expect LPStreamEOFError:
+      discard (await buff.readOnce(addr data[0], data.len))
+
+    await buff.close() # all data should still be read after close
+
+  asyncTest "read more data after eof":
+    let buff = newBufferStream()
+    check buff.len == 0
+
+    await buff.pushData("12345".toBytes())
+    var data: array[5, byte]
+    check: (await buff.readOnce(addr data[0], 1)) == 1 # 4 bytes in readBuf
+
+    await buff.pushEof()
+
+    check:
+      not buff.atEof()
+      (await buff.readOnce(addr data[0], 1)) == 1 # 3 bytes in readBuf, eof marker processed
+      not buff.atEof()
+      (await buff.readOnce(addr data[0], data.len)) == 3 # 0 bytes in readBuf
+      buff.atEof()
+      # exactly one 0-byte read
+      (await buff.readOnce(addr data[0], data.len)) == 0
+
+    expect LPStreamEOFError:
+      discard (await buff.readOnce(addr data[0], data.len))
+
+    await buff.close() # all data should still be read after close
+
   asyncTest "shouldn't get stuck on close":
     var stream = newBufferStream()
     var
diff --git a/tests/testmplex.nim b/tests/testmplex.nim
index 07694e284..9e6dc6f18 100644
--- a/tests/testmplex.nim
+++ b/tests/testmplex.nim
@@ -140,7 +140,7 @@ suite "Mplex":
       await chann.readExactly(addr data[0], 3)
       let closeFut = chann.pushEof() # closing channel
       let readFut = chann.readExactly(addr data[3], 3)
-      await all(closeFut, readFut)
+      await allFutures(closeFut, readFut)
 
       expect LPStreamEOFError:
         await chann.readExactly(addr data[0], 6) # this should fail now
@@ -194,7 +194,7 @@ suite "Mplex":
 
       await conn.close()
 
-    asyncTest "should complete read":
+    asyncTest "reset should complete read":
       proc writeHandler(data: seq[byte]) {.async, gcsafe.} = discard
       let
         conn = newBufferStream(writeHandler)
@@ -209,33 +209,66 @@ suite "Mplex":
 
       await conn.close()
 
-    asyncTest "should complete pushData":
+    asyncTest "reset should complete pushData":
       proc writeHandler(data: seq[byte]) {.async, gcsafe.} = discard
       let
         conn = newBufferStream(writeHandler)
         chann = LPChannel.init(1, conn, true)
 
-      await chann.pushData(@[0'u8])
-      let fut = chann.pushData(@[0'u8])
+      let futs = @[
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+      ]
       await chann.reset()
-      check await fut.withTimeout(100.millis)
+      check await allFutures(futs).withTimeout(100.millis)
       await conn.close()
 
-    asyncTest "should complete both read and push":
+    asyncTest "reset should complete both read and push":
       proc writeHandler(data: seq[byte]) {.async, gcsafe.} = discard
       let
         conn = newBufferStream(writeHandler)
         chann = LPChannel.init(1, conn, true)
 
       var data = newSeq[byte](1)
-      let rfut = chann.readExactly(addr data[0], 1)
-      let wfut = chann.pushData(@[0'u8])
-      let wfut2 = chann.pushData(@[0'u8])
+      let futs = [
+        chann.readExactly(addr data[0], 1),
+        chann.pushData(@[0'u8]),
+      ]
       await chann.reset()
-      check await allFutures(rfut, wfut, wfut2).withTimeout(100.millis)
+      check await allFutures(futs).withTimeout(100.millis)
       await conn.close()
 
-    asyncTest "should complete both read and push after cancel":
+    asyncTest "reset should complete both read and pushes":
+      proc writeHandler(data: seq[byte]) {.async, gcsafe.} = discard
+      let
+        conn = newBufferStream(writeHandler)
+        chann = LPChannel.init(1, conn, true)
+
+      var data = newSeq[byte](1)
+      let futs = [
+        chann.readExactly(addr data[0], 1),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+        chann.pushData(@[0'u8]),
+      ]
+      await chann.reset()
+      check await allFutures(futs).withTimeout(100.millis)
+      await futs[0]
+      await conn.close()
+
+    asyncTest "reset should complete both read and push with cancel":
       proc writeHandler(data: seq[byte]) {.async, gcsafe.} = discard
       let
         conn = newBufferStream(writeHandler)
@@ -244,11 +277,9 @@ suite "Mplex":
       var data = newSeq[byte](1)
       let rfut = chann.readExactly(addr data[0], 1)
       rfut.cancel()
+      let xfut = chann.reset()
 
-      let wfut = chann.pushData(@[0'u8])
-      let wfut2 = chann.pushData(@[0'u8])
-      await chann.reset()
-      check await allFutures(rfut, wfut, wfut2).withTimeout(100.millis)
+      check await allFutures(rfut, xfut).withTimeout(100.millis)
       await conn.close()
 
     asyncTest "should complete both read and push after reset":
@@ -259,14 +290,14 @@ suite "Mplex":
 
       var data = newSeq[byte](1)
       let rfut = chann.readExactly(addr data[0], 1)
-      let fut2 = sleepAsync(1.millis) or rfut
+      let rfut2 = sleepAsync(1.millis) or rfut
 
       await sleepAsync(5.millis)
 
       let wfut = chann.pushData(@[0'u8])
       let wfut2 = chann.pushData(@[0'u8])
       await chann.reset()
-      check await allFutures(rfut, wfut, wfut2).withTimeout(100.millis)
+      check await allFutures(rfut, rfut2, wfut, wfut2).withTimeout(100.millis)
       await conn.close()
 
     asyncTest "channel should fail writing":
@@ -466,9 +497,9 @@ suite "Mplex":
           let msg = await stream.readLp(1024)
           check string.fromBytes(msg) == &"stream {count}!"
           count.inc
-          await stream.close()
-          if count == 10:
+          if count == 11:
             done.complete()
+          await stream.close()
 
         await mplexListen.handle()
         await mplexListen.close()
@@ -508,9 +539,9 @@ suite "Mplex":
           check string.fromBytes(msg) == &"stream {count} from dialer!"
           await stream.writeLp(&"stream {count} from listener!")
           count.inc
-          await stream.close()
-          if count == 10:
+          if count == 11:
             done.complete()
+          await stream.close()
 
         await mplexListen.handle()
         await mplexListen.close()