Solana Neobank Avici Hit with $600K-$1M Hack, AVICI Token Plummets

Avici, a neobank built on the Solana blockchain, is facing a major security breach. On August 28, hackers exploited an 'issue affecting card balance withdrawals,' resulting in significant losses for users. The amount lost ranges from $600,000 to over $1 million.

The attack began with the hacker running a function called SubmitSignatures on Avici's authorization program, followed by AddCollateralAdmin on Avici's collateral program. Finally, they executed WithdrawCollateralAsset to drain funds from user accounts. The attacker's wallet held approximately 10,005 SOL, worth around $1.07 million at the time.

125 different user accounts were affected, with amounts ranging from about $9 USDC to over $26,000 USDT per account. Following the news of the hack, the AVICI token plummeted by about 39% in a single day, dropping to around $0.2175. This represents a significant decline from its record high of $7.61 on November 26, 2025.

Avici is currently investigating the breach and working with partners to implement a fix. The company has stated that it will share more information when available.