AVICI Token Plummets 37% on $600K Withdrawal Incident

AVICI, a token built on the Solana blockchain, plummeted by 37% after reports emerged of a $600K withdrawal incident. The company behind AVICI acknowledged an issue with card-balance withdrawals and stated it was working to resolve the problem.

An address associated with the exploit held approximately $604,818.97 in funds, including around $570,410 in USDC, $34,188 in USDT, and a small amount of SOL. The funds have since been dispersed from this address.

AVICI's price initially fell to as low as $0.2072 before recovering slightly to $0.2695, still significantly below its opening price. Trading data suggests the token had already been experiencing decline prior to the withdrawal incident.