Avici, a digital banking platform built on the Solana blockchain, is investigating a major security breach that led to user funds being emptied on August 28. Early reports estimate that losse
Avici, a digital banking platform built on the Solana blockchain, is investigating a major security breach that led to user funds being emptied on August 28. Early reports estimate that losses range from $600,000 to just over $1 million as Avici works to determine the full impact of the exploit.
Avici provides neobanking services, allowing clients to maintain crypto-backed card balances and conduct digital transactions. The platform acknowledged an “issue affecting card balance withdrawals,” but has not confirmed the exact sum of funds taken or if it will reimburse affected users.
The breach came to light after the crypto analytics account @SolanaFloor flagged unusual activity on X. Investigations suggest the attacker first used a function labeled SubmitSignatures on Avici’s authorization program. They then executed AddCollateralAdmin on the collateral program and completed the theft by initiating WithdrawCollateralAsset.
The wallet identified as belonging to the hacker contained approximately 10,005 SOL, valued at $1.07 million at the time, and an additional $11,600 in stablecoins. Blockchain analyst STACC, who has tracked the incident in real time, found that 125 individual user accounts were affected. Stolen amounts ranged from $9 USDC to $26,000 USDT per account.
Avici stated on X that it is actively monitoring the situation and collaborating with partners on a resolution. The company has promised to share further updates as more details emerge.
Mini dictionary: Avici is a neobank, which refers to a digital bank that operates mainly online without traditional physical branches. It typically offers services like spending, saving, and transferring funds through digital interfaces, often leveraging blockchain infrastructure for enhanced transparency and reduced costs.
The AVICI token, native to the neobank, dropped sharply in the aftermath of the hack. Its price declined about 39% within 24 hours of the breach, sinking to $0.2175. During the same period, the token’s price fluctuated between a daily low of $0.2189 and a high of $0.4459.
TokenPeak Price (Nov 26, 2025)Current Price24h ChangeCurrent Market CapCirculating SupplyAVICI$7.61$0.2175-39%$3.39 million12.9 millionAVICI now trades approximately 96% below its record high of $7.61 reached on November 26, 2025. The token currently has about 12,400 holders, according to CoinMarketCap, with a circulating supply near 12.9 million and a market capitalization of $3.39 million.
In a statement on X, Avici emphasized that the team is working closely with partners and is committed to sharing further information about the breach as it becomes available.
The Avici hack is the latest in a series of incidents affecting decentralized finance projects. Earlier this week, The Sandbox, a metaverse platform, announced it would offer 1:1 repayment to address losses after a bridge exploit resulted in about $697,000 stolen from holders.
In addition, MANTRA, a decentralized finance ecosystem, released a report on a separate exploit totaling $3.6 million, though it did not provide details about how or if the stolen funds might be recovered.
Moonwell, a lending protocol, was also targeted days before the Avici attack. Analysts indicated that nearly $9 million was lost due to a price-manipulation vulnerability.
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