Avici, a neobank built on the Solana blockchain, is investigating a security breach that completely drained user funds on August 28. Preliminary data suggests the damage could range from $600,000 to over $1 million.
Following the hack, the AVICI token of Avici lost approximately 39% of its value in a single day.
What Damage Was Caused by the Avici Hack?
Avici, offering banking services on the Solana blockchain such as using funds on cryptocurrency-backed cards, confirmed a "card withdrawal issue" but did not disclose how much was lost or whether users would be reimbursed.
The AVICI token, the neobank's native asset, plummeted sharply after news of the security breach.
The hack was first flagged by a post from user SolanaFloor on X. Reports indicate the hacker first triggered the SubmitSignatures function in Avici's authorization program, then invoked AddCollateralAdmin in the Avici collateral program, and finally executed WithdrawCollateralAsset to withdraw the funds.
The attacker's wallet contained about 10,005 SOL, worth roughly $1.07 million at the time, along with approximately $11,600 in stablecoins. Blockchain analyst STACC created a real-time tracer that revealed 125 different user accounts were affected. Amounts stolen from each account ranged from about $9 to over $26,000 in USDT.
Reports suggest hackers stole between $600,000 and over $1 million from user accounts. Avici stated on platform X that it is monitoring the situation and added it is working with partners to resolve the issue and will share further information once available.
Did the Hack Affect AVICI?
Following this news, the AVICI token fell roughly 39% over 24 hours to around $0.2175. During the day, the price fluctuated between a low of $0.2189 and a high of $0.4459.
AVICI peaked at $7.61 on November 26, 2025, meaning the token is now approximately 96% below its all-time high. According to CoinMarketCap, its market cap is about $3.39 million, with roughly 12.9 million tokens in circulation and around 12,400 holders.
In the same week as the Avici hack, The Sandbox decided to reimburse bridge hack victims on a 1:1 basis after a theft that, according to Cryptopolitan, cost holders roughly $697,000.
Meanwhile, MANTRA released a report on an attack worth about $3.6 million but did not present a fund recovery plan. Days earlier, Cryptopolitan reported an attack on the Moonwell lending protocol where up to $9 million was stolen through price manipulation.
