diff --git a/src/tcp_server.h b/src/tcp_server.h
index 834f4f2..96bf876 100644
--- a/src/tcp_server.h
+++ b/src/tcp_server.h
@@ -163,7 +163,6 @@ protected:
 	int m_listenPort;
 
 	uv_loop_t m_loop;
-	std::atomic<bool> m_loopStopped;
 
 	uv_mutex_t m_clientsListLock;
 	std::vector<Client*> m_preallocatedClients;
@@ -184,17 +183,12 @@ protected:
 	virtual void on_shutdown() = 0;
 
 	uv_async_t m_shutdownAsync;
-	static void on_shutdown(uv_async_t* async)
-	{
-		TCPServer* server = reinterpret_cast<TCPServer*>(async->data);
-		server->on_shutdown();
-		server->close_sockets(true);
+	uv_prepare_t m_shutdownPrepare;
+	uv_timer_t m_shutdownTimer;
+	uint32_t m_shutdownCountdown;
+	uint32_t m_numHandles;
 
-		uv_close(reinterpret_cast<uv_handle_t*>(&server->m_dropConnectionsAsync), nullptr);
-		uv_close(reinterpret_cast<uv_handle_t*>(&server->m_shutdownAsync), nullptr);
-
-		delete GetLoopUserData(&server->m_loop, false);
-	}
+	static void on_shutdown(uv_async_t* async);
 };
 
 } // namespace p2pool
diff --git a/src/tcp_server.inl b/src/tcp_server.inl
index f860709..4481eb0 100644
--- a/src/tcp_server.inl
+++ b/src/tcp_server.inl
@@ -31,9 +31,12 @@ TCPServer<READ_BUF_SIZE, WRITE_BUF_SIZE>::TCPServer(allocate_client_callback all
 	, m_finished(0)
 	, m_listenPort(-1)
 	, m_loop{}
-	, m_loopStopped{false}
 	, m_numConnections{ 0 }
 	, m_numIncomingConnections{ 0 }
+	, m_shutdownPrepare{}
+	, m_shutdownTimer{}
+	, m_shutdownCountdown(30)
+	, m_numHandles(0)
 {
 	int err = uv_loop_init(&m_loop);
 	if (err) {
@@ -433,35 +436,6 @@ void TCPServer<READ_BUF_SIZE, WRITE_BUF_SIZE>::shutdown_tcp()
 	}
 
 	uv_async_send(&m_shutdownAsync);
-
-	using namespace std::chrono;
-
-	const auto start_time = steady_clock::now();
-	int64_t counter = 0;
-	uv_async_t asy;
-
-	constexpr uint32_t timeout_seconds = 30;
-
-	while (!m_loopStopped) {
-		const int64_t elapsed_time = duration_cast<milliseconds>(steady_clock::now() - start_time).count();
-
-		if (elapsed_time >= (counter + 1) * 1000) {
-			++counter;
-			if (counter < timeout_seconds) {
-				LOGINFO(1, "waiting for event loop to stop for " << (timeout_seconds - counter) << " more seconds...");
-			}
-			else {
-				LOGWARN(1, "timed out while waiting for event loop to stop");
-				uv_async_init(&m_loop, &asy, [](uv_async_t* h) { uv_close(reinterpret_cast<uv_handle_t*>(h), nullptr); });
-				uv_stop(&m_loop);
-				uv_async_send(&asy);
-				break;
-			}
-		}
-
-		std::this_thread::sleep_for(milliseconds(1));
-	}
-
 	uv_thread_join(&m_loopThread);
 
 	uv_mutex_destroy(&m_clientsListLock);
@@ -598,7 +572,6 @@ void TCPServer<READ_BUF_SIZE, WRITE_BUF_SIZE>::loop(void* data)
 	server->m_preallocatedClients.clear();
 
 	LOGINFO(1, "event loop stopped");
-	server->m_loopStopped = true;
 }
 
 template<size_t READ_BUF_SIZE, size_t WRITE_BUF_SIZE>
@@ -729,7 +702,6 @@ void TCPServer<READ_BUF_SIZE, WRITE_BUF_SIZE>::on_new_client(uv_stream_t* server
 	on_new_client(server, client);
 }
 
-
 template<size_t READ_BUF_SIZE, size_t WRITE_BUF_SIZE>
 void TCPServer<READ_BUF_SIZE, WRITE_BUF_SIZE>::on_new_client(uv_stream_t* server, Client* client)
 {
@@ -825,6 +797,67 @@ void TCPServer<READ_BUF_SIZE, WRITE_BUF_SIZE>::on_new_client(uv_stream_t* server
 	}
 }
 
+template<size_t READ_BUF_SIZE, size_t WRITE_BUF_SIZE>
+void TCPServer<READ_BUF_SIZE, WRITE_BUF_SIZE>::on_shutdown(uv_async_t* async)
+{
+	TCPServer* s = reinterpret_cast<TCPServer*>(async->data);
+	s->on_shutdown();
+	s->close_sockets(true);
+
+	uv_close(reinterpret_cast<uv_handle_t*>(&s->m_dropConnectionsAsync), nullptr);
+	uv_close(reinterpret_cast<uv_handle_t*>(&s->m_shutdownAsync), nullptr);
+
+	delete GetLoopUserData(&s->m_loop, false);
+
+	s->m_numHandles = 0;
+	uv_walk(&s->m_loop, [](uv_handle_t*, void* n) { (*reinterpret_cast<size_t*>(n))++; }, &s->m_numHandles);
+
+	uv_prepare_init(&s->m_loop, &s->m_shutdownPrepare);
+	s->m_shutdownPrepare.data = s;
+
+	uv_timer_init(&s->m_loop, &s->m_shutdownTimer);
+	s->m_shutdownTimer.data = s;
+	s->m_shutdownCountdown = 30;
+
+	uv_timer_start(&s->m_shutdownTimer,
+		[](uv_timer_t* h)
+		{
+			TCPServer* s = reinterpret_cast<TCPServer*>(h->data);
+			const uint32_t k = --s->m_shutdownCountdown;
+			if (k > 0) {
+				LOGINFO(1, "waiting for event loop to stop for " << k << " more seconds (" << s->m_numHandles << " handles left)...");
+			}
+			else {
+				LOGINFO(1, "force stopping the event loop...");
+				uv_timer_stop(&s->m_shutdownTimer);
+				uv_prepare_stop(&s->m_shutdownPrepare);
+				uv_close(reinterpret_cast<uv_handle_t*>(&s->m_shutdownTimer), nullptr);
+				uv_close(reinterpret_cast<uv_handle_t*>(&s->m_shutdownPrepare), nullptr);
+				uv_stop(&s->m_loop);
+			}
+		}, 1000, 1000);
+
+	uv_prepare_start(&s->m_shutdownPrepare,
+		[](uv_prepare_t* h)
+		{
+			TCPServer* s = reinterpret_cast<TCPServer*>(h->data);
+
+			s->m_numHandles = 0;
+			uv_walk(&s->m_loop, [](uv_handle_t*, void* n) { (*reinterpret_cast<size_t*>(n))++; }, &s->m_numHandles);
+
+			if (s->m_numHandles > 2) {
+				// Don't count m_shutdownTimer and m_shutdownPrepare
+				s->m_numHandles -= 2;
+			}
+			else {
+				uv_timer_stop(&s->m_shutdownTimer);
+				uv_prepare_stop(&s->m_shutdownPrepare);
+				uv_close(reinterpret_cast<uv_handle_t*>(&s->m_shutdownTimer), nullptr);
+				uv_close(reinterpret_cast<uv_handle_t*>(&s->m_shutdownPrepare), nullptr);
+			}
+		});
+}
+
 template<size_t READ_BUF_SIZE, size_t WRITE_BUF_SIZE>
 TCPServer<READ_BUF_SIZE, WRITE_BUF_SIZE>::Client::Client()
 	: m_owner(nullptr)