Avici NeoBank Hit with $653K Hack, Solana Token Price Tanks

Avici, a Solana-based neobank, has been hacked for approximately $653,548. The attacker exploited a vulnerability in the bank's USDC card collateral vaults, draining funds despite documentation stating that only users' wallets could withdraw.

The incident caused Solana's token price to plummet by nearly 40%, with its market value dropping to around $0.32.

It is worth noting that the stolen funds represent nearly 20% of Avici's market capitalization, highlighting the severity of the hack.