An attacker drained more than $1 million from Avici users, the Solana neobank that issues Visa cards backed by crypto. The attack exploited the authorization layer by registering a new administrator on each victim’s collateral account, then withdrawing the funds. The attacker’s wallet held approximately 10,005 SOL ($1.07 million) and $11,600 in stablecoins at the time of the attack. Avici took nearly two hours to publicly acknowledge the incident, which affected at least 125 distinct accounts. The AVICI token dropped 49.4% in 24 hours to reach a new all-time low.
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