diff --git a/libp2p/network/swarm.py b/libp2p/network/swarm.py
index 4d53b80..711dc88 100644
--- a/libp2p/network/swarm.py
+++ b/libp2p/network/swarm.py
@@ -7,6 +7,7 @@ from multiaddr import Multiaddr
 from libp2p.peer.id import ID
 from libp2p.peer.peerstore import PeerStoreError
 from libp2p.peer.peerstore_interface import IPeerStore
+from libp2p.protocol_muxer.exceptions import MultiselectClientError
 from libp2p.protocol_muxer.multiselect import Multiselect
 from libp2p.protocol_muxer.multiselect_client import MultiselectClient
 from libp2p.protocol_muxer.multiselect_communicator import MultiselectCommunicator
@@ -176,9 +177,16 @@ class Swarm(INetwork):
         muxed_stream = await muxed_conn.open_stream()
 
         # Perform protocol muxing to determine protocol to use
-        selected_protocol = await self.multiselect_client.select_one_of(
-            list(protocol_ids), MultiselectCommunicator(muxed_stream)
-        )
+        try:
+            selected_protocol = await self.multiselect_client.select_one_of(
+                list(protocol_ids), MultiselectCommunicator(muxed_stream)
+            )
+        except MultiselectClientError as error:
+            logger.debug("fail to open a stream to peer %s, error=%s", peer_id, error)
+            await muxed_stream.reset()
+            raise SwarmException(
+                "failt to open a stream to peer %s", peer_id
+            ) from error
 
         # Create a net stream with the selected protocol
         net_stream = NetStream(muxed_stream)
diff --git a/libp2p/pubsub/pubsub.py b/libp2p/pubsub/pubsub.py
index ef069d8..e413b28 100644
--- a/libp2p/pubsub/pubsub.py
+++ b/libp2p/pubsub/pubsub.py
@@ -19,11 +19,12 @@ from lru import LRU
 from libp2p.exceptions import ParseError, ValidationError
 from libp2p.host.host_interface import IHost
 from libp2p.io.exceptions import IncompleteReadError
+from libp2p.network.exceptions import SwarmException
+from libp2p.network.stream.exceptions import StreamEOF, StreamReset
 from libp2p.network.stream.net_stream_interface import INetStream
 from libp2p.peer.id import ID
 from libp2p.typing import TProtocol
 from libp2p.utils import encode_varint_prefixed, read_varint_prefixed_bytes
-from libp2p.network.stream.exceptions import StreamEOF, StreamReset
 
 from .pb import rpc_pb2
 from .pubsub_notifee import PubsubNotifee
@@ -245,7 +246,11 @@ class Pubsub:
             # disconnect the peer?
 
     async def _handle_new_peer(self, peer_id: ID) -> None:
-        stream: INetStream = await self.host.new_stream(peer_id, self.protocols)
+        try:
+            stream: INetStream = await self.host.new_stream(peer_id, self.protocols)
+        except SwarmException as error:
+            logger.debug("fail to add new peer %s, error %s", peer_id, error)
+            return
 
         self.peers[peer_id] = stream
 
diff --git a/libp2p/transport/upgrader.py b/libp2p/transport/upgrader.py
index 46656aa..96234c6 100644
--- a/libp2p/transport/upgrader.py
+++ b/libp2p/transport/upgrader.py
@@ -10,10 +10,7 @@ from libp2p.security.secure_transport_interface import ISecureTransport
 from libp2p.security.security_multistream import SecurityMultistream
 from libp2p.stream_muxer.abc import IMuxedConn
 from libp2p.stream_muxer.muxer_multistream import MuxerClassType, MuxerMultistream
-from libp2p.transport.exceptions import (
-    MuxerUpgradeFailure,
-    SecurityUpgradeFailure,
-)
+from libp2p.transport.exceptions import MuxerUpgradeFailure, SecurityUpgradeFailure
 from libp2p.typing import TProtocol
 
 from .listener_interface import IListener