$1.1M Solana Exploit Brings Down Neobank Tokens

A security flaw in a legacy Rain card smart contract on Solana has led to approximately $1.1 million being drained from various platforms, impacting neobanks Avici and Tria.

The exploit resulted in losses of $500,800 for Avici, affecting 1,685 cardholders, while Tria reported losses exceeding $430,000, affecting 636 users.

The AVICI token plummeted 49% from its daily peak to an all-time low of $0.217 following the breach, but later stabilized around $0.378.

Rain, the infrastructure provider behind the card services, confirmed that its security monitoring identified the weakness in a legacy contract version and immediately upgraded affected platforms.