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Following
SOL Crypto-card hacking was reported to have stolen approximately US$1.1 million from new Solana bank users, and platform tokens plunged 49%
A crypto-card hacking was reported to have stolen approximately US$1.1 million from new Solana-based bank users, and as the vulnerability grew in public, the platform tokens fell 49%. This article is based on reporting details of the incident, and the relevant data has not been independently verified at this stage.
How the $1.1 million encryption card hack became the core of the story
The core incident was a encryption card hack that allegedly stole approximately $1.1 million from a new bank user associated with consumer-grade card products. The loss became the focus of the story because it directly hit customer funds rather than remote agreement coffers. The attack was described as a real-time unfolding of Solana's new bank, Avici, in which the attacker siphoned funds from users in an overt on-chain attack. Because these details rely on early reports, they should be regarded as numbers in the report rather than confirming facts.
Summary of Points
·A cryptographic card hacker reportedly stole approximately $1.1 million from new Solana bank users.
·The new bank token fell 49% after the incident was made public.
·Data comes from early reports and has not been independently verified at this stage.
Why new bank tokens plunged 49% after the incident
As the vulnerability was exposed, the new bank token fell 49%, a trend that the reporting sequence directly linked to hacking incidents. This number is described as reported and is not separately verified here. Security incidents often trigger a sharp drop in tokens because they attack what consumers 'financial products cannot afford to lose most: confidence in the safety of their funds. When vulnerabilities hit user balances rather than agreement reserves, holders reprice tokens based on custody risk rather than short-term technical aspects-which is why a single event can erase nearly half of the token's value. This dynamic is not unique to card products. A small movement in a token can trigger a chain reaction through leveraged positions, and self-custody failures such as the Coldcard hack have repeatedly demonstrated how quickly confidence can drain once a vulnerability is confirmed.
What this means for crypto cards, new banks and user trust
The crypto products associated with cards carry amplified trust risks because they connect daily consumption with on-chain custody, so a breach damages both the payment layer and the tokens that support the platform. The positioning of the new bank means that the reputational impact far exceeds the reported dollar losses. The broader lesson is in line with the industry's ongoing self-custody reflection: the transparency of platforms that hold user funds has become the criterion; the credibility of new crypto banks now depends on both the product itself and the ability to handle vulnerabilities.
Disclaimer: This article is for information only and does not constitute financial or investment advice. There are significant risks in the cryptocurrency and digital asset markets. Please be sure to study for yourself before making a decision.
