Avici Refunds Users After Solana Card Exploit
Avici says it has fully refunded 1,685 users affected by an older Solana card smart contract vulnerability. The incident exposed about $500,900 in card balances funded through Avici’s top-up process. Users also received an additional 10% cashback, while card-issuing partner Rain covered the full refund cost.
The vulnerability was limited to the separate Solana card contract. Avici’s self-custodial Solana and EVM wallets were not affected. EVM card balances, fiat deposits and withdrawals, and token swaps remained operational. The affected contract has been upgraded, and Avici says it has found no further unauthorised activity. It has also reported the incident to the FBI’s Internet Crime Complaint Center and will continue monitoring its systems.
The response reduces immediate contagion and user-loss risks, but the Avici Solana card contract exploit highlights continuing smart contract, custodial-interface and crypto card security risks. Earlier reports also linked a suspected attack on the AVICI token to the theft of about 10,000 SOL, worth roughly $1.02 million, with the funds later converted to USDC and bridged into about 418 ETH.
Neutral
The direct price impact on SOL is likely neutral. The exploit initially created bearish pressure by raising concerns about Solana-based card infrastructure and crypto custody. However, the affected balances were fully refunded, Rain covered the cost, the contract was upgraded, and no further unauthorised activity was reported. These measures reduce the risk of forced selling, additional losses and broader contagion.
In the short term, traders may still apply a modest security discount to SOL or related projects because smart contract exploits can weaken market confidence. The reported movement of stolen funds through SOL, USDC and ETH may also attract monitoring, but it does not by itself establish sustained selling pressure. Over the longer term, the incident is more relevant to the security reputation of crypto card platforms than to Solana’s underlying market price. Unless further exploits or losses emerge, the completed refunds should help contain the event’s impact.