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The project Avici, which provides crypto-backed banking services, suffered a security breach on Friday, August 28. The attacker withdrew funds from clients of the neobank operating on the Solana blockchain.
First, the unknown actor triggered the SubmitSignatures function in the Avici authorization program, then activated the AddCollateralAdmin function in the collateral program, and finally executed WithdrawCollateralAsset to withdraw funds. At the time of the hack, the hacker’s address held approximately 10,005 SOL worth $1.07 million and about $11,600 in stablecoins.
Blockchain analyst under the pseudonym STACC reported that the attack affected 125 user accounts. The amounts of assets stolen from each account ranged from $9 to $26,000.
Total losses are preliminarily estimated at between $600,000 and over $1 million. The exact extent of the damage has not yet been disclosed. The Avici team stated that it is collaborating with partners to resolve the issue, but has not yet announced any refunds for the stolen funds.
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We’re aware of an issue affecting card balance withdrawals and are closely monitoring the situation.
We’re working directly with all relevant partners to resolve it and will share updates as soon as we have more information.
— Avici (@avici) August 28, 2026
The native AVICI token plummeted 39% in 24 hours to $0.2175. During the day, the price fluctuated between $0.2189 and $0.4459. The token’s all-time high was recorded on November 26, 2025, at $7.61. Thus, the token is currently trading 96% below its all-time high. The market capitalization of AVICI is approximately $3.39 million, with about 12.9 million tokens in circulation, and the total number of holders is around 12,400.
Recently, hackers hacked the Sandbox metaverse, issuing 500 million SAND tokens. The project team promised compensation to affected SAND owners on the Base and BNB Smart Chain networks. Payouts will be made from the project’s treasury without issuing new tokens, and the application process for payouts remains available for another two weeks.
