A Vampire dragon named Redclaws steals two of the three eggs of a pair of Amphibian dragons. She successfully converts one of them into a Vampire dragon egg, while the other is accidentally killed. Splashsail and Flowerwater, the parents of the eggs, move to a different forest to protect their last egg. Out of this egg hatches an adventurous young Amphibian named Waveripple. Waveripple soon meets two other hatchlings, and the three of them discover that something is wrong in the forest. Dragons are disappearing without a trace. Waveripple and his friends try to figure out what is happening to them-before any other dragon goes missing. Meanwhile, the stolen egg has also hatched, into a Vampire named Whiteswirl. Whiteswirl finds a cavern that he is content to spend most of his time in, but dragons are discovering his kills. He must always be careful not to be noticed, because every dragon would kill a Vampire on sight.
Now that the Vampires are gone, the forest is at peace, Waveripple believes. The Amphibian dragon now has two younger sisters, who can grow up safe and free from worry.
Little does he know that one of the Vampires he helped to drive out, Whiteswirl, is out for revenge. He will stop at nothing to hunt down the five dragons who killed Redclaws, the Vampire who converted him while he was still in his egg.
But soon things become even more heated, as an entire clan of Vampires moves into the area, and a clan of Vampire hunters follows. Both clans begin to hunt each other down. The Vampires are eager to eliminate one of the only things that can threaten them, while the Vampire hunters are trying to exterminate the Vampires before the rest of the dragons in the forest are killed by them.