$1.02M Avici Exploit Highlights Risks in Crypto Fund Movements

Crypto project Avici has been hit by an estimated $1.02 million exploit, where an attacker moved funds through multiple blockchain transactions and converted them into USDC and Ethereum before transferring the proceeds to Tornado Cash.

The incident involved approximately 10,000 SOL being transferred to a secondary wallet controlled by the attacker, who then exchanged it for roughly $1.02 million in USDC.

The attacker moved the funds across blockchain networks, converting the stablecoin holdings into approximately 418 ETH before transferring them to Tornado Cash.