Home›Crypto›Market Structure›$1.1M Solana card hack hits AVICI token, neobank vows…

$1.1M Solana card hack hits AVICI token, neobank vows full refunds

Avici said the breach was limited to card-funding contracts after customers topped up, not its self-custodial wallets on Solana and Ethereum-compatible networks.

Reported · Written up by our desk · Market Structure

A vulnerability in an outdated Rain card contract led to a roughly $1.1 million Solana-based hack that affected multiple card-related programs, CoinDesk reported. The incident involved draining stablecoins tied to card collateral after users funded their cards.

Avici said the exploit caused its AVICI token to fall 49% from a 24-hour high of $0.43 to a record low of $0.217, before partially recovering to about $0.305 at the time of writing. The company also said the breach impacted 1,685 Avici users tied to about $500,800.

Avici confirmed the attack was confined to a Solana contract holding funds after card top-ups, and that its self-custodial wallets on Solana and Ethereum-compatible networks were not affected. The neobank pledged full refunds for all affected card balances.

CoinDesk also noted that other Rain-powered programs appeared to be hit, based on transaction data showing more funds moved on-chain than Avici reported losing, though neither company identified which additional programs were impacted. Separately, Tria said 636 users were affected and pledged full repayment, even as its token dropped more than 10% at one point.

Latest closeEthereum $2,462.63 ▼1.9%|Solana $105.50 ▼3.4%

More like this

Sources