Neobank Token Drops 49% Following $1.1 Million Crypto Card Exploit
The AVICI token plunged up to 49% after an exploit on a crypto-linked payment card resulted in a $1.1 million loss.
A security exploit targeting the payment infrastructure of a crypto-linked neobank resulted in a $1.1 million financial loss, causing the platform’s native AVICI utility token to experience a dramatic 49% price collapse.
The unauthorized draining of liquidity sent the token plunging toward record lows before bargain buyers stepped in to recover a portion of the steep intraday decline. Platform engineers initiated mitigation protocols to secure payment gateways.
The incident highlights persistent operational and bridge vulnerabilities in hybrid fintech systems that connect decentralized asset wallets with traditional payment processing networks and card-issuing services.
Key takeaways
- A crypto neobank card integration suffered a $1.1 million exploit.
- The native AVICI token plunged 49% following the incident.
- The breach highlights continuous security risks facing crypto payment gateways.