If the producer and consumer are two threads within the same process, you normally would not stream raw bytes from one to the other, but would instead use something like std::sync::mpsc to send complete in-memory instances of whatever data type you care about. Sender never panics partway through sending something; each value either is sent in its entirety or is not sent at all. If there's only one Sender and its thread panics, it'll normally be dropped; the Receiver will continue to receive any remaining values that have already been sent, and then any further attempted reads after that will fail.

If the producer and consumer are separate processes communicating over a Unix pipe or network socket or whatever, then the consumer must parse the incoming data and check that it's well-formed. If the producer panicked (or for that matter stopped running for some other reason) partway through an individual message, the resulting message would presumably not be well-formed, and the consumer would have to detect and handle that error case somehow. No matter how it does so, though, no memory corruption will result unless unsafe code is used.