Incident All ledgers
Pando Rings: $22.0m
Pando Rings lost $22.0m on 6 November 2022. Ranked 128th of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 6 November 2022
- Lost
- $22.0m
- Returned or repaid
- None recorded
- Target
- DeFi Protocol
- Category
- Oracle Manipulation
- Method
- Spot Price Manipulation
- Chains
- Mixin
Pando Rings lost roughly $20-22M on November 5-6, 2022, after an attacker manipulated its oracle to inflate the value of sBTC-WBTC LP tokens and then borrowed against the overvalued collateral.
Against the ledger
- It ranks 128th of the 1,272 incidents with a known loss, and 19th in 2022.
- It accounts for 4.3% of the $515.2m in known losses in November 2022.
- 159 incidents in the ledger are classified as Oracle Manipulation, for $894.1m in total. This one is 2.5% of that.
- The ledger records no returned funds.
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 12 May 2021 | xToken | $24.0m | DeFi Protocol | Spot Price Manipulation | — |
| 26 Oct 2020 | Harvest Finance | $24.0m | DeFi Protocol | Spot Price Manipulation | — |
| 12 Apr 2022 | Elephant Money | $22.2m | DeFi Protocol | Spot Price Manipulation | — |
| 10 Jun 2024 | UwU Lend | $20.0m | DeFi Protocol | Spot Price Manipulation | — |
| 16 Apr 2026 | Rhea Lend | $18.4m | DeFi Protocol | Spot Price Manipulation | — |
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, “Pando Rings, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/pando-rings-2022-11-06/. How this is built