Incident All ledgers
Drift Trade: $14.5m
Drift Trade lost $14.5m on 11 May 2022. Ranked 159th of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 11 May 2022
- Lost
- $14.5m
- Returned or repaid
- $14.5m
- Target
- DeFi Protocol
- Category
- Market Manipulation
- Method
- Risk Parameter Abuse
- Chains
- Solana
In May 2022, three linked design bugs in Solana-based Drift Protocol, exposed during the LUNA collapse, let users pull unrealized gains and drained shared insurance, leaving a $14.5M shortfall after $8.72M in net withdrawals.
Against the ledger
- It ranks 159th of the 1,272 incidents with a known loss, and 25th in 2022.
- It accounts for 11.5% of the $125.7m in known losses in May 2022.
- 12 incidents in the ledger are classified as Market Manipulation, for $135.4m in total. This one is 10.7% of that.
- $14.5m is recorded as returned or repaid, 100.0% of the amount taken.
Other incidents named Drift
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 01 Apr 2026 | Drift Trade | $295.0m | DeFi Protocol | Proxy Upgrade Hijack | — |
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 20 Apr 2025 | Bitget | $100.0m | CEX | Market Maker Bot Exploited | — |
| 18 Nov 2023 | dYdX V3 | $9.0m | DeFi Protocol | Risk Parameter Abuse | — |
| 20 Jun 2026 | JaredFromSubway MEV Bot | $7.5m | Other | MEV Bot Drained | — |
| 01 Nov 2022 | Save | $1.0m | DeFi Protocol | Risk Parameter Abuse | — |
| 14 Dec 2025 | Mars Perps | $960,000 | DeFi Protocol | Funding Rate Arbitrage | — |
All failures in 2022 · The failures ledger
Amounts are DefiLlama’s estimates and can change as incidents are revalued. Its returned figure can include money a company repaid itself, not only funds recovered from attackers. Source: DefiLlama.
Cite this Bitminer.io, “Drift Trade, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/drift-trade-2022-05-11/. How this is built