Avici Hacked for $500K; Token Plummets as Same Attackers Hit Ajna

Avici, a Solana-based neobank, has been hit by hackers who exploited a vulnerability in its authorization program to drain user funds. The breach occurred on August 28 and affected 1,685 users, with a total of $500,859.22 being stolen from their accounts.

The company has announced that it will refund every affected card balance in full, which represents the entire amount lost by users during the hack.

According to DefiLlama's hack database logs, the attacker exploited a withdrawal logic flaw in Avici's Rust-based protocol. The hacker called several functions on the authorization program, including SubmitSignatures and WithdrawCollateralAsset, to pull funds out of user accounts.

The attacking wallet ended up holding about 10,005 SOL, worth around $1.07 million at the time, along with around $11,600 in stablecoins. Avici's token fell by about 39% in 24 hours to near $0.26, touching a new all-time low of around $0.2189.

A day after the Avici hack, another Ethereum lending protocol, Ajna, was also hit by the same attackers. Ajna had a total value locked of about $246,880 at the time, down 71.3% over the prior 30 days.