🌍 CRYPTO MARKET UPDATE
Solana Neobank Avici Hacked for $650,000. Token Crashes 40%
An Avici exploit drained $652,000 from Solana card vaults the company said only users could touch. The post Solana Neobank Avici Hacked for $650,000. An attacker drained over $653,000 from card collateral vaults at Avici, a Solana neobank whose own documentation promised that only a user’s wallet could ever move that money. The token Avici (AVICI) has since fallen by about 40% to $0.24. The sum taken equals close to a fifth of its entire market value. Users lock the stablecoin in a smart contract, and spending draws it down. “Only user’s wallet can withdraw funds from escrow contract after deducting the spends,” the company’s documentation states, indicating who holds the keys. On Friday, the vaults emptied anyway, with a live tracker counting $653,548 pulled out as of this writing Avici Attack. It did not remove every privileged path written into the program itself. On-chain researchers say the attacker submitted a crafted signature bundle, made itself an admin on the escrow accounts, then withdrew. more info on the ongoing @avici hack ⚠️ > drain started 2 hours ago (5PM UTC) and is still ACTIVE !! > over $1M exploit confirmed so far > over 9000 users affected so far > exploiter wallet address: FVNFzqAny8spWdPmYw6RQ9TkYa29ueFFiqCFD1gQnCEj > hacker transferred out over $1M… pic.twitter.com/IHLmkPN10B — inno (@inno_sol) August 28, 2026 So the money was left account by account. It suggests a familiar pattern, such as when a Solana governance attack took $20 million from one BONK DAO treasury in a single stroke. Associated tokens rarely shrug such incidents off, which is why the AVICI token fell almost 40%. In the same way, a bridge breach sent Midnight’s token to a record low in July.
🕒 Updated: 28 Aug 2026 21:07 UTC
#CryptoNews #MarketUpdate #BinanceSquare
Solana Neobank Avici Hacked for $650,000. Token Crashes 40%
An Avici exploit drained $652,000 from Solana card vaults the company said only users could touch. The post Solana Neobank Avici Hacked for $650,000. An attacker drained over $653,000 from card collateral vaults at Avici, a Solana neobank whose own documentation promised that only a user’s wallet could ever move that money. The token Avici (AVICI) has since fallen by about 40% to $0.24. The sum taken equals close to a fifth of its entire market value. Users lock the stablecoin in a smart contract, and spending draws it down. “Only user’s wallet can withdraw funds from escrow contract after deducting the spends,” the company’s documentation states, indicating who holds the keys. On Friday, the vaults emptied anyway, with a live tracker counting $653,548 pulled out as of this writing Avici Attack. It did not remove every privileged path written into the program itself. On-chain researchers say the attacker submitted a crafted signature bundle, made itself an admin on the escrow accounts, then withdrew. more info on the ongoing @avici hack ⚠️ > drain started 2 hours ago (5PM UTC) and is still ACTIVE !! > over $1M exploit confirmed so far > over 9000 users affected so far > exploiter wallet address: FVNFzqAny8spWdPmYw6RQ9TkYa29ueFFiqCFD1gQnCEj > hacker transferred out over $1M… pic.twitter.com/IHLmkPN10B — inno (@inno_sol) August 28, 2026 So the money was left account by account. It suggests a familiar pattern, such as when a Solana governance attack took $20 million from one BONK DAO treasury in a single stroke. Associated tokens rarely shrug such incidents off, which is why the AVICI token fell almost 40%. In the same way, a bridge breach sent Midnight’s token to a record low in July.
🕒 Updated: 28 Aug 2026 21:07 UTC
#CryptoNews #MarketUpdate #BinanceSquare
