Avici Neobank Suffers $670K Smart Contract Exploit, Promises Full Refunds

A Solana-based neobanking platform called Avici recently fell victim to a smart contract exploit that drained approximately $670,000 from over 1,100 user collateral accounts.

The attacker spent only about $190 in initial capital and used it to cover transaction fees across more than 8,857 transactions. The funds were withdrawn from individual user accounts rather than a single treasury.

The company has committed to full refunds for affected users, signaling that it will absorb the losses rather than leave them with the debt.