A hacking incident occurred at Avici, a Solana-based neo-bank project, exploiting vulnerabilities in its card collateral vault and access management program. According to foreign news outlets like BeInCrypto and Binance News, at least $650,000 to $1 million in funds were stolen. It appears the attacker drained funds by exploiting individual customer escrow contracts and forged signatures. While it is fortunate that the entire project treasury was not drained, the news of the hack caused the price of the project's native token, AVICI, to plummet nearly 40% instantly, causing significant shock.

Following the recent contract vulnerability issue with the Rain payment platform in the Solana ecosystem, the hack at Avici has reignited concerns about the security of consumer financial apps. It is a bitter reminder that no matter how fast or convenient a blockchain banking service may be, it can all be built on sand if it lacks perfectly secure smart contracts. If you are using any related escrow contracts or collateral services, it would be wise to carefully monitor official announcements to prevent further potential losses.

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