AVICI Token Crashes 37% Amid $600K Withdrawal Incident

A Solana-based token called AVICI saw a significant price drop of 37% after reports emerged of a $600,000 withdrawal incident. According to Bitget, an address associated with the exploit held around $604,800 worth of coins before dispersing them elsewhere.

The incident involved customers' card balances, but Avici did not describe it as a hack and gave no estimate of the amount involved or number of affected customers. Analysis of the Solana address linked to the incident showed approximately $570,410 in USDC, $34,188 in USDT, and $221 in SOL.

The AVICI price started trading at $0.4305 before falling as low as $0.2072, but it later recovered to around $0.2695. The token remained 37.43% below its opening price, with an increase in selling during the fall.