diff --git a/libusb/io.c b/libusb/io.c
index 272177e..9db322b 100644
--- a/libusb/io.c
+++ b/libusb/io.c
@@ -2123,21 +2123,29 @@
 
 	/* complete any pending transfers */
 	if (ctx->event_flags & USBI_EVENT_TRANSFER_COMPLETED) {
-		assert(!list_empty(&ctx->completed_transfers));
-		while (r == 0 && !list_empty(&ctx->completed_transfers)) {
-			struct usbi_transfer *itransfer =
-				list_first_entry(&ctx->completed_transfers, struct usbi_transfer, completed_list);
+		struct usbi_transfer *itransfer, *tmp;
+		struct list_head completed_transfers;
 
+		assert(!list_empty(&ctx->completed_transfers));
+		list_cut(&completed_transfers, &ctx->completed_transfers);
+		usbi_mutex_unlock(&ctx->event_data_lock);
+
+		__for_each_transfer_safe(&completed_transfers, itransfer, tmp) {
 			list_del(&itransfer->completed_list);
-			usbi_mutex_unlock(&ctx->event_data_lock);
 			r = usbi_backend.handle_transfer_completion(itransfer);
-			if (r)
+			if (r) {
 				usbi_err(ctx, "backend handle_transfer_completion failed with error %d", r);
-			usbi_mutex_lock(&ctx->event_data_lock);
+				break;
+			}
 		}
 
-		if (list_empty(&ctx->completed_transfers))
+		usbi_mutex_lock(&ctx->event_data_lock);
+		if (!list_empty(&completed_transfers)) {
+			/* an error occurred, put the remaining transfers back on the list */
+			list_splice_front(&completed_transfers, &ctx->completed_transfers);
+		} else if (list_empty(&ctx->completed_transfers)) {
 			ctx->event_flags &= ~USBI_EVENT_TRANSFER_COMPLETED;
+		}
 	}
 
 	/* if no further pending events, clear the event */
diff --git a/libusb/libusbi.h b/libusb/libusbi.h
index d0e57e4..da45121 100644
--- a/libusb/libusbi.h
+++ b/libusb/libusbi.h
@@ -203,8 +203,10 @@
 
 static inline void list_cut(struct list_head *list, struct list_head *head)
 {
-	if (list_empty(head))
+	if (list_empty(head)) {
+		list_init(list);
 		return;
+	}
 
 	list->next = head->next;
 	list->next->prev = list;
@@ -214,6 +216,13 @@
 	list_init(head);
 }
 
+static inline void list_splice_front(struct list_head *list, struct list_head *head)
+{
+	list->next->prev = head;
+	list->prev->next = head->next;
+	head->next = list->next;
+}
+
 static inline void *usbi_reallocf(void *ptr, size_t size)
 {
 	void *ret = realloc(ptr, size);
@@ -1306,11 +1315,17 @@
 #define for_each_open_device(ctx, h) \
 	for_each_helper(h, &(ctx)->open_devs, struct libusb_device_handle)
 
+#define __for_each_transfer(list, t) \
+	for_each_helper(t, (list), struct usbi_transfer)
+
 #define for_each_transfer(ctx, t) \
-	for_each_helper(t, &(ctx)->flying_transfers, struct usbi_transfer)
+	__for_each_transfer(&(ctx)->flying_transfers, t)
+
+#define __for_each_transfer_safe(list, t, n) \
+	for_each_safe_helper(t, n, (list), struct usbi_transfer)
 
 #define for_each_transfer_safe(ctx, t, n) \
-	for_each_safe_helper(t, n, &(ctx)->flying_transfers, struct usbi_transfer)
+	__for_each_transfer_safe(&(ctx)->flying_transfers, t, n)
 
 #define for_each_event_source(ctx, e) \
 	for_each_helper(e, &(ctx)->event_sources, struct usbi_event_source)
diff --git a/libusb/os/linux_usbfs.c b/libusb/os/linux_usbfs.c
index 27bed33..f5c92c2 100644
--- a/libusb/os/linux_usbfs.c
+++ b/libusb/os/linux_usbfs.c
@@ -2654,6 +2654,7 @@
 		struct pollfd *pollfd = &fds[n];
 		struct libusb_device_handle *handle;
 		struct linux_device_handle_priv *hpriv = NULL;
+		int reap_count;
 
 		if (!pollfd->revents)
 			continue;
@@ -2696,9 +2697,11 @@
 			continue;
 		}
 
+		reap_count = 0;
 		do {
 			r = reap_for_handle(handle);
-		} while (r == 0);
+		} while (r == 0 && ++reap_count <= 25);
+
 		if (r == 1 || r == LIBUSB_ERROR_NO_DEVICE)
 			continue;
 		else if (r < 0)
diff --git a/libusb/version_nano.h b/libusb/version_nano.h
index e9e0512..a2be5c2 100644
--- a/libusb/version_nano.h
+++ b/libusb/version_nano.h
@@ -1 +1 @@
-#define LIBUSB_NANO 11552
+#define LIBUSB_NANO 11553