Avici token sinks 39% as hackers drain up to $1 million from Solana neobank

Avici, a Solana-based neobank, suffered a security breach on August 28 that drained between $600,000 and $1 million from user accounts. The attacker exploited specialized functions to access and empty approximately 125 user accounts. The incident triggered an immediate market reaction, with the AVICI token dropping 39% in a single day.

The breach underscores ongoing security vulnerabilities in Solana's ecosystem despite the blockchain's growth. Users affected by the exploit faced direct fund loss, while token holders absorbed significant losses from the sharp price decline. Avici has begun investigating the incident as affected users await updates on recovery efforts or compensation.

• Between $600,000 and $1 million were stolen from roughly 125 Avici user accounts via a targeted exploit of platform functions.
• AVICI token crashed 39% in one day following disclosure of the August 28 breach.
• The incident highlights persistent security risks for financial applications built on Solana despite the network's expanding DeFi presence.