Avici Hack Losses Surpass $1M as Stolen Funds Laundered Through Tornado Cash

The Solana-based neobank Avici has fallen victim to a hack that has resulted in losses exceeding $1 million. The attacker exploited vulnerabilities in the smart contract's permissions and signature verification, allowing unauthorized withdrawals of funds.

The stolen SOL was then swapped for USDC and bridged to Ethereum before being deposited into Tornado Cash, a crypto mixing service often used to obscure transaction trails. This is not an isolated incident, as Onchain Lens has tracked the movement of funds from the hacker's address, revealing a deliberate attempt to obfuscate the trail.

The use of Tornado Cash indicates that the attacker seeks to evade tracking by law enforcement and blockchain analytics firms. Security experts point to weaknesses in Avici's smart contract permission controls and signature verification processes as likely entry points for the hack.