A crypto card security issue has led to about $1.1 million in losses on Solana.
Around $500800 was linked to 1685 Avici users. The incident also affected other programs that used the same outdated card contract.
The AVICI token fell sharply after the news. It dropped from around $0.43 to $0.217 before recovering some of the loss.
Avici said the issue was limited to funds that users had loaded for card spending. Its self custodial wallets were not affected.
The company also said it will fully refund affected users.
The problem came from an older card contract that had a security weakness. The contract was used to hold funds after users topped up their cards.
This incident is a reminder that self custody does not always mean every part of the spending process is fully controlled by the user.
Crypto cards can be useful but it is still important to understand where your funds are held when you use them.
$SOL $CL $SKR
Around $500800 was linked to 1685 Avici users. The incident also affected other programs that used the same outdated card contract.
The AVICI token fell sharply after the news. It dropped from around $0.43 to $0.217 before recovering some of the loss.
Avici said the issue was limited to funds that users had loaded for card spending. Its self custodial wallets were not affected.
The company also said it will fully refund affected users.
The problem came from an older card contract that had a security weakness. The contract was used to hold funds after users topped up their cards.
This incident is a reminder that self custody does not always mean every part of the spending process is fully controlled by the user.
Crypto cards can be useful but it is still important to understand where your funds are held when you use them.
$SOL $CL $SKR
