Error: A connection was successfully established with the server, but then an error occurred during the pre-login handshake

The local machine suddenly started giving me the error

A connection was successfully established with the server, but then an error occurred during the pre-login handshake

In order to solve it, try the following

1. Clean your Visual Studio solution
2. Rebuild project
3. Reset IIS
4. Run the project again

This did the trick for me