Avici token crashes as hackers drain nearly $1 million from Solana neobank
- Avici, a Solana-based neobank, was hit by a breach on August 28 that drained somewhere between $600,000 and $1 million.
- The AVICI token fell by about 39% to around $0.26.
- The company has acknowledged only an “issue affecting card balance withdrawals” and has not confirmed the loss size or a fix.
Avici, a neobank built on the Solana blockchain, is investigating a security breach that emptied user funds on August 28. Anything from $600,000 to more than $1 million may have been lost, per initial reports.
Avici’s AVICI token lost roughly 39% of its value in a single day following the hack.
How much was lost in the Avici hack?
Avici, a Solana-based neobank that offers banking-style services like spendable card balances backed by crypto, confirmed that there was an “issue affecting card balance withdrawals,” but has not stated how much was lost or if users will be repaid.
AVICI, the native token of the neobank, crashed following news of the security breach.
The breach was discovered through a post from @SolanaFloor on X. According to reports, the hacker first ran a function called SubmitSignatures on Avici’s authorization program, then they called AddCollateralAdmin on Avici’s collateral program, and finally they ran WithdrawCollateralAsset to take the funds out.
The attacker’s wallet held about 10,005 SOL, worth around $1.07 million at the time, plus about $11,600 in stablecoins. A blockchain analyst named STACC created a real-time tracker that found 125 different user accounts were affected. The amounts taken ranged from about $9 USDC to over $26,000 USDT per account.
Hackers allegedly drained somewhere between $600,000 and over $1 million altogether from user accounts. Avici said on X that it is monitoring the situation, adding that it is working with partners toward a fix and would share more when it has details.
Did the hack affect AVICI?
Following the news, the AVICI token dropped by about 39% over 24 hours to around $0.2175. During the day, the price moved between a low of $0.2189 and a high of $0.4459.
AVICI peaked at $7.61 on November 26, 2025, meaning the token now sits about 96% below its record high. CoinMarketCap lists a market capitalization near $3.39 million, a circulating supply of roughly 12.9 million tokens, and about 12,400 holders.
In the same week as the Avici drain, The Sandbox moved to repay bridge-exploit victims 1:1 after a theft that Cryptopolitan reported cost holders about $697,000.
Meanwhile, MANTRA published a report regarding a roughly $3.6 million exploit, but it did not include its recovery plan for the funds. Days earlier, Cryptopolitan reported that the lending protocol Moonwell was attacked, and as much as $9 million was stolen in a price-manipulation exploit.
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FAQs
How much was stolen from Avici?
Estimates vary by source: Some reported more than $1 million drained, while others put the figure at over $600,000. Avici has not confirmed an official amount.
What has Avici said about the hack?
In an August 28 post on X, Avici said it was aware of an issue affecting card balance withdrawals, was monitoring the situation, and was working with partners to resolve it, without labeling it a hack or naming a loss figure.
How did the AVICI token react?
AVICI dropped about 38.96% in 24 hours to roughly $0.2625 on August 28, hitting a new all-time low of $0.2189 and leaving it around 96% below its November 2025 peak of $7.61, according to CoinMarketCap.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Hannah Collymore
Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.
