Hack history / 2022 / Hack or exploit
Drift Trade
Hack or exploit on May 11, 2022 · Risk Parameter Abuse
ONE SOURCE · 1 SOURCE
Lost
$14.5M
dollars at the time
Returned
$14.5M
100% of the loss, as a source states it
Rank
#243
among thefts by dollars lost
What happened
On May 11, 2022, Drift Protocol on Solana experienced three interconnected bugs: users could withdraw positive PnL without realizing losses, leverage increased with long-short imbalance, and insurance funds weren't isolated per market. LUNA collapse exposed these issues, causing $8.72M net withdrawal and $14.5M shortfall.
Details
- Date
- May 11, 2022
- Kind
- Hack or exploit
- Method
- Risk Parameter Abuse
- How in
- Price, oracle and governance
- Target
- DeFi protocol
- Chains
- Solana
After the theft
- Victims reimbursed
- yes, amount not stated
“On May 11, 2022, Drift Protocol on Solana experienced three interconnected bugs: users could withdraw positive PnL without realizing losses, leverage increased with long-short imbalance, and insurance funds weren't isolated per market.” (DefiLlama)
Reported by
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TRADE.IO 2018 · Hack or exploit · undisclosed
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Trader loses $5.7 million to slippage in memecoin trade 2024 · Costly mistake or other · $5.7M
TRADE.IO 2018 · Hack or exploit · undisclosed
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Cite this page
SwanBluechip, "Drift Trade hack, May 11, 2022: $14.5M lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/ht5bc98ecac6/ (data as of 2026-10-31).