diff --git a/telethon/network/connection/connection.py b/telethon/network/connection/connection.py
index bbfc35c6..838b3b88 100644
--- a/telethon/network/connection/connection.py
+++ b/telethon/network/connection/connection.py
@@ -256,6 +256,8 @@ class Connection(abc.ABC):
         if not self._connected:
             return
 
+        self._connected = False
+
         await helpers._cancel(
             self._log,
             send_task=self._send_task,
@@ -279,8 +281,6 @@ class Connection(abc.ABC):
                     # * ConnectionResetError
                     self._log.info('%s during disconnect: %s', type(e), e)
 
-        self._connected = False
-
     def send(self, data):
         """
         Sends a packet of data through this connection mode.
@@ -333,6 +333,8 @@ class Connection(abc.ABC):
             while self._connected:
                 try:
                     data = await self._recv()
+                except asyncio.CancelledError:
+                    break
                 except (IOError, asyncio.IncompleteReadError) as e:
                     self._log.warning('Server closed the connection: %s', e)
                     await self._recv_queue.put((None, e))
@@ -349,8 +351,6 @@ class Connection(abc.ABC):
                     await self.disconnect()
                 else:
                     await self._recv_queue.put((data, None))
-        except asyncio.CancelledError:
-            pass
         finally:
             await self.disconnect()