Avici, a neobank built on the Solana blockchain, has been hit by a security breach that emptied user funds. The incident occurred on August 28 and initial loss estimates range from $600,000 to over $1 million.
The hack wiped out roughly 39% of the AVICI token's value in just one day, highlighting concerns about custody and security risks for crypto neobanks and DeFi adoption.
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