diff --git a/hook.js b/hook.js
index e88131d..89a53d8 100644
--- a/hook.js
+++ b/hook.js
@@ -111,33 +111,75 @@ function isStarExportLine(line) {
  * @param {object} params
  * @param {string} params.srcUrl The full URL to the module to process.
  * @param {object} params.context Provided by the loaders API.
- * @param {function} parentGetSource Provides the source code for the parent
- * module.
+ * @param {Function} params.parentGetSource Provides the source code for the
+ * parent module.
+ * @param {string} [params.ns='namespace'] A string identifier that will be
+ * used as the namespace for the identifiers exported by the module.
+ * @param {string} [params.defaultAs='default'] The name to give the default
+ * identifier exported by the module (if one exists). This is really only
+ * useful in a recursive situation where a transitive module's default export
+ * needs to be renamed to the name of the module.
+ *
  * @returns {Promise<ProcessedModule>}
  */
-async function processModule({ srcUrl, context, parentGetSource }) {
-  const exportNames = await getExports(srcUrl, context, parentGetSource)
-  const imports = [`import * as namespace from ${JSON.stringify(srcUrl)}`]
-  const namespaces = ['namespace']
+async function processModule({
+  srcUrl,
+  context,
+  parentGetSource,
+  ns = 'namespace',
+  defaultAs = 'default'
+}) {
+  const exportNames = await getExports({
+    url: srcUrl,
+    context,
+    parentLoad: parentGetSource,
+    defaultAs
+  })
+  const imports = [`import * as ${ns} from ${JSON.stringify(srcUrl)}`]
+  const namespaces = [ns]
   const setters = []
 
   for (const n of exportNames) {
     if (isStarExportLine(n) === true) {
       const [_, modFile] = n.split('* from ')
+      const normalizedModName = normalizeModName(modFile)
       const modUrl = new URL(modFile, srcUrl).toString()
       const modName = Buffer.from(modFile, 'hex') + Date.now() + randomBytes(4).toString('hex')
 
-      imports.push(`import * as $${modName} from ${JSON.stringify(modUrl)}`)
-      namespaces.push(`$${modName}`)
-
-      const data = await processModule({ srcUrl: modUrl, context, parentGetSource })
+      const data = await processModule({
+        srcUrl: modUrl,
+        context,
+        parentGetSource,
+        ns: `$${modName}`,
+        defaultAs: normalizedModName
+      })
+      Array.prototype.push.apply(imports, data.imports)
+      Array.prototype.push.apply(namespaces, data.namespaces)
       Array.prototype.push.apply(setters, data.setters)
 
       continue
     }
 
+    const matches = /^rename (.+) as (.+)$/.exec(n)
+    if (matches !== null) {
+      // Transitive modules that export a default identifier need to have
+      // that identifier renamed to the name of module. And our shim setter
+      // needs to utilize that new name while being initialized from the
+      // corresponding origin namespace.
+      const renamedExport = matches[2]
+      setters.push(`
+      let $${renamedExport} = ${ns}.default
+      export { $${renamedExport} as ${renamedExport} }
+      set.${renamedExport} = (v) => {
+        $${renamedExport} = v
+        return true
+      }
+      `)
+      continue
+    }
+
     setters.push(`
-    let $${n} = _.${n}
+    let $${n} = ${ns}.${n}
     export { $${n} as ${n} }
     set.${n} = (v) => {
       $${n} = v
@@ -146,7 +188,25 @@ async function processModule({ srcUrl, context, parentGetSource }) {
     `)
   }
 
-  return { imports, namespaces, setters: Array.from(new Set(setters)) }
+  return { imports, namespaces, setters }
+}
+
+/**
+ * Given a module name, e.g. 'foo-bar' or './foo-bar.js', normalize it to a
+ * string that is a valid JavaScript identifier, e.g. `fooBar`. Normalization
+ * means converting kebab-case to camelCase while removing any path tokens and
+ * file extensions.
+ *
+ * @param {string} name The module name to normalize.
+ *
+ * @returns {string} The normalized identifier.
+ */
+function normalizeModName(name) {
+  return name
+    .split('\/')
+    .pop()
+    .replace(/(.+)\.(?:js|mjs)$/, '$1')
+    .replaceAll(/(-.)/g, x => x[1].toUpperCase())
 }
 
 function addIitm (url) {
@@ -200,15 +260,53 @@ function createHook (meta) {
           parentGetSource
       })
 
+      // When we encounter modules that re-export all identifiers from other
+      // modules, it is possible that the transitive modules export a default
+      // identifier. Due to us having to merge all transitive modules into a
+      // single common namespace, we need to recognize these default exports
+      // and remap them to a name based on the module name. This prevents us
+      // from overriding the top-level module's (the one actually being imported
+      // by some source code) default export when we merge the namespaces.
+      const renamedDefaults = setters
+        .map(s => {
+          const matches = /let \$(.+) = (\$.+)\.default/.exec(s)
+          if (matches === null) return
+          return `_['${matches[1]}'] = ${matches[2]}.default`
+        })
+        .filter(s => s)
+
+      // The for loops are how we merge namespaces into a common namespace that
+      // can be proxied. We can't use a simple `Object.assign` style merging
+      // because transitive modules can export a default identifier that would
+      // override the desired default identifier. So we need to do manual
+      // merging with some logic around default identifiers.
+      //
+      // Additionally, we need to make sure any renamed default exports in
+      // transitive dependencies are added to the common namespace. This is
+      // accomplished through the `renamedDefaults` array.
       return {
         source: `
 import { register } from '${iitmURL}'
 ${imports.join('\n')}
 
-const _ = Object.assign({}, ...[${namespaces.join(', ')}])
+const namespaces = [${namespaces.join(', ')}]
+const _ = {}
 const set = {}
 
+const primary = namespaces.shift()
+for (const [k, v] of Object.entries(primary)) {
+  _[k] = v
+}
+for (const ns of namespaces) {
+  for (const [k, v] of Object.entries(ns)) {
+    if (k === 'default') continue
+    _[k] = v
+  }
+}
+
 ${setters.join('\n')}
+${renamedDefaults.join('\n')}
+
 register(${JSON.stringify(realUrl)}, _, set, ${JSON.stringify(specifiers.get(realUrl))})
 `
       }
diff --git a/lib/get-esm-exports.js b/lib/get-esm-exports.js
index c04799e..8b158a3 100644
--- a/lib/get-esm-exports.js
+++ b/lib/get-esm-exports.js
@@ -14,9 +14,36 @@ function warn (txt) {
   process.emitWarning(txt, 'get-esm-exports')
 }
 
-function getEsmExports (moduleStr) {
+/**
+ * Utilizes an AST parser to interpret ESM source code and build a list of
+ * exported identifiers. In the baseline case, the list of identifiers will be
+ * the simple identifier names as written in the source code of the module.
+ * However, there are some special cases:
+ *
+ * 1. When an `export * from './foo.js'` line is encountered it is rewritten
+ * as `* from ./foo.js`. This allows the interpreting code to recognize a
+ * transitive export and recursively parse the indicated module. The returned
+ * identifier list will have "* from ./foo.js" as an item.
+ *
+ * 2. When `defaultAs` has a value other than 'default', the export line will
+ * be rewritten as `rename <identifier> as <defaultAsValue>`. This rename string
+ * will be an item in the returned identifier list.
+ *
+ * @param {object} params
+ * @param {string} params.moduleSource The source code of the module to parse
+ * and interpret.
+ * @param {string} [defaultAs='default'] When anything other than 'default' any
+ * `export default` lines will be rewritten utilizing the value provided. For
+ * example, if a module 'foo-bar.js' has the line `export default foo` and the
+ * value of this parameter is 'baz', then the export will be rewritten to
+ * `rename foo as baz`.
+ *
+ * @returns {string[]} The identifiers exported by the module along with any
+ * custom directives.
+ */
+function getEsmExports ({ moduleSource, defaultAs = 'default' }) {
   const exportedNames = new Set()
-  const tree = parser.parse(moduleStr, acornOpts)
+  const tree = parser.parse(moduleSource, acornOpts)
   for (const node of tree.body) {
     if (!node.type.startsWith('Export')) continue
     switch (node.type) {
@@ -27,9 +54,24 @@ function getEsmExports (moduleStr) {
           parseSpecifiers(node, exportedNames)
         }
         break
-      case 'ExportDefaultDeclaration':
-        exportedNames.add('default')
+
+      case 'ExportDefaultDeclaration': {
+        if (defaultAs === 'default') {
+          exportedNames.add('default')
+          break
+        }
+
+        if (node.declaration.type.toLowerCase() === 'identifier') {
+          // e.g. `export default foo`
+          exportedNames.add(`rename ${node.declaration.name} as ${defaultAs}`)
+        } else {
+          // e.g. `export function foo () {}
+          exportedNames.add(`rename ${node.declaration.id.name} as ${defaultAs}`)
+        }
+
         break
+      }
+
       case 'ExportAllDeclaration':
         if (node.exported) {
           exportedNames.add(node.exported.name)
diff --git a/lib/get-exports.js b/lib/get-exports.js
index cfa86d4..a50315a 100644
--- a/lib/get-exports.js
+++ b/lib/get-exports.js
@@ -9,7 +9,30 @@ function addDefault(arr) {
   return Array.from(new Set(['default', ...arr]))
 }
 
-async function getExports (url, context, parentLoad) {
+/**
+ * Inspects a module for its type (commonjs or module), attempts to get the
+ * source code for said module from the loader API, and parses the result
+ * for the entities exported from that module.
+ *
+ * @param {object} params
+ * @param {string} params.url A file URL string pointing to the module that
+ * we should get the exports of.
+ * @param {object} params.context Context object as provided by the `load`
+ * hook from the loaders API.
+ * @param {Function} params.parentLoad Next hook function in the loaders API
+ * hook chain.
+ * @param {string} [defaultAs='default'] When anything other than 'default',
+ * will trigger remapping of default exports in ESM source files to the
+ * provided name. For example, if a submodule has `export default foo` and
+ * 'myFoo' is provided for this parameter, the export line will be rewritten
+ * to `rename foo as myFoo`. This is key to being able to support
+ * `export * from 'something'` exports.
+ *
+ * @returns {Promise<string[]>} An array of identifiers exported by the module.
+ * Please see {@link getEsmExports} for caveats on special identifiers that may
+ * be included in the result set.
+ */
+async function getExports ({ url, context, parentLoad, defaultAs = 'default' }) {
   // `parentLoad` gives us the possibility of getting the source
   // from an upstream loader. This doesn't always work though,
   // so later on we fall back to reading it from disk.
@@ -30,7 +53,7 @@ async function getExports (url, context, parentLoad) {
   }
 
   if (format === 'module') {
-    return getEsmExports(source)
+    return getEsmExports({ moduleSource: source, defaultAs })
   }
   if (format === 'commonjs') {
     return addDefault(getCjsExports(source).exports)
@@ -38,7 +61,7 @@ async function getExports (url, context, parentLoad) {
 
   // At this point our `format` is either undefined or not known by us. Fall
   // back to parsing as ESM/CJS.
-  const esmExports = getEsmExports(source)
+  const esmExports = getEsmExports({ moduleSource: source, defaultAs })
   if (!esmExports.length) {
     // TODO(bengl) it's might be possible to get here if somehow the format
     // isn't set at first and yet we have an ESM module with no exports.
diff --git a/test/fixtures/default-class.mjs b/test/fixtures/default-class.mjs
new file mode 100644
index 0000000..6c3d0f8
--- /dev/null
+++ b/test/fixtures/default-class.mjs
@@ -0,0 +1,3 @@
+export default class DefaultClass {
+  value = 'DefaultClass'
+}
diff --git a/test/fixtures/got-alike.mjs b/test/fixtures/got-alike.mjs
index 3f0dc1a..68a719a 100644
--- a/test/fixtures/got-alike.mjs
+++ b/test/fixtures/got-alike.mjs
@@ -5,10 +5,13 @@
 // This replicates the way the in-the-wild `got` module does things:
 // https://github.com/sindresorhus/got/blob/3822412/source/index.ts
 
-const got = {
-  foo: 'foo'
+class got {
+  foo = 'foo'
 }
 
 export default got
 export { got }
 export * from './something.mjs'
+export * from './default-class.mjs'
+export * from './snake_case.mjs'
+export { default as renamedDefaultExport } from './lib/baz.mjs'
diff --git a/test/fixtures/lib/baz.mjs b/test/fixtures/lib/baz.mjs
index 210d922..26f5f33 100644
--- a/test/fixtures/lib/baz.mjs
+++ b/test/fixtures/lib/baz.mjs
@@ -1,3 +1,4 @@
 export function baz() {
   return 'baz'
 }
+export default baz
diff --git a/test/fixtures/snake_case.mjs b/test/fixtures/snake_case.mjs
new file mode 100644
index 0000000..003c28d
--- /dev/null
+++ b/test/fixtures/snake_case.mjs
@@ -0,0 +1,2 @@
+const snakeCase = 'snake_case'
+export default snakeCase
diff --git a/test/get-esm-exports/v20-get-esm-exports.js b/test/get-esm-exports/v20-get-esm-exports.js
index 0d03214..ad003cd 100644
--- a/test/get-esm-exports/v20-get-esm-exports.js
+++ b/test/get-esm-exports/v20-get-esm-exports.js
@@ -15,7 +15,7 @@ fixture.split('\n').forEach(line => {
   if (expectedNames[0] === '') {
     expectedNames.length = 0
   }
-  const names = getEsmExports(mod)
+  const names = getEsmExports({ moduleSource: mod })
   assert.deepEqual(expectedNames, names)
   console.log(`${mod}\n  ✅ contains exports: ${testStr}`)
 })
diff --git a/test/hook/static-import-gotalike.mjs b/test/hook/static-import-gotalike.mjs
index 1d3af42..81946b0 100644
--- a/test/hook/static-import-gotalike.mjs
+++ b/test/hook/static-import-gotalike.mjs
@@ -3,17 +3,31 @@ import Hook from '../../index.js'
 Hook((exports, name) => {
   if (/got-alike\.mjs/.test(name) === false) return
 
-  const bar = exports.default
-  exports.default = function barWrapped () {
+  const bar = exports.something
+  exports.something = function barWrapped () {
     return bar() + '-wrapped'
   }
+
+  const renamedDefaultExport = exports.renamedDefaultExport
+  exports.renamedDefaultExport = function bazWrapped () {
+    return renamedDefaultExport() + '-wrapped'
+  }
 })
 
 import {
-  default as bar,
-  got
+  default as Got,
+  something,
+  defaultClass as DefaultClass,
+  snake_case,
+  renamedDefaultExport
 } from '../fixtures/got-alike.mjs'
 
-strictEqual(bar(), '42-wrapped')
+strictEqual(something(), '42-wrapped')
+const got = new Got()
 strictEqual(got.foo, 'foo')
 
+const dc = new DefaultClass
+strictEqual(dc.value, 'DefaultClass')
+
+strictEqual(snake_case, 'snake_case')
+strictEqual(renamedDefaultExport(), 'baz-wrapped')