--- title: Neobank's Token Plummets 49% After $1.1M Crypto Card Hack url: >- https://www.cryptocatalyst.news/articles/2026-08-30-neobanks-token-plummets-49-after-11m-crypto-card-hack canonical: >- https://www.cryptocatalyst.news/articles/2026-08-30-neobanks-token-plummets-49-after-11m-crypto-card-hack date: '2026-08-30T19:01:48.391509+00:00' category: general tags: - hack - neobank - crypto - token - security source: CoinDesk source_url: >- https://www.coindesk.com/web3/2026/08/29/a-usd1-1-million-crypto-card-hack-crashed-a-neobank-s-token-49 publisher: CryptoCatalyst summary: >- A $1.1 million hack on a crypto-linked debit card caused the neobank AVICI's token to drop 49% in 24 hours, hitting a record low before partially recovering. image: >- https://www.cryptocatalyst.news/images/articles/2026-08-30-neobanks-token-plummets-49-after-11m-crypto-card-hack.webp generated_by: automated editorial pipeline --- # Neobank's Token Plummets 49% After $1.1M Crypto Card Hack A $1.1 million hack on a crypto-linked debit card caused the neobank AVICI's token to drop 49% in 24 hours. The token hit a record low before partially recovering. ## Key takeaways - A $1.1 million hack on a crypto-linked debit card caused the AVICI token to drop 49%. - The AVICI token hit a record low before partially recovering from the sell-off. - The hack highlights the risks associated with crypto-linked financial products. A $1.1 million hack on a crypto-linked debit card has caused significant turmoil for a neobank, driving its native token to a record low. The AVICI token dropped 49% from its 24-hour high before partially recovering, leaving investors shaken. The hack targeted the neobank's crypto card, which allows users to spend their crypto holdings like traditional currency. The exploit led to a massive sell-off of the AVICI token, highlighting the risks associated with crypto-linked financial products. ## What Happened During the Hack? The hackers exploited a vulnerability in the neobank's crypto card system, siphoning off approximately $1.1 million in various cryptocurrencies. This incident triggered a wave of panic selling, as users rushed to offload their AVICI tokens in response to the security breach. The token's price hit a record low before stabilizing slightly, but the damage was done. ## Why the Timing Matters The hack occurred during a period of heightened market volatility, exacerbating the token's decline. The neobank's AVICI token had been gaining traction, with a growing user base and increasing adoption of its crypto card. However, this security breach has raised serious questions about the platform's safety and reliability. ## What It Means for Investors For those holding AVICI tokens, the hack serves as a stark reminder of the risks inherent in crypto-linked financial products. The incident has eroded trust in the neobank's security measures, potentially leading to further sell-offs. Investors should closely monitor the neobank's response and any steps taken to enhance security. Additionally, this event fits a wider pattern in recent crypto news, where security breaches have led to significant market reactions. Comparable incidents, such as the 2023 hack of a major crypto exchange, have shown that such breaches can have long-lasting impacts on market confidence. ## What to Do Next - **Monitor Updates**: Keep an eye on official announcements from the neobank regarding the hack and any compensatory measures. - **Assess Risk**: Evaluate your exposure to AVICI tokens and consider diversifying your portfolio to mitigate potential losses. - **Enhance Security**: If you use crypto-linked financial products, ensure that your accounts are secured with strong passwords and two-factor authentication. The neobank's ability to recover from this incident will depend on its transparency and the effectiveness of its security upgrades. For now, investors should proceed with caution. ## FAQ ### What caused the AVICI token to drop 49%? The drop was caused by a $1.1 million hack on the neobank's crypto-linked debit card, leading to panic selling. ### How can I protect my crypto assets from similar hacks? Ensure your accounts are secured with strong passwords and two-factor authentication, and monitor updates from the platforms you use. ### What should I do if I hold AVICI tokens? Monitor official announcements from the neobank, assess your risk exposure, and consider diversifying your portfolio. ## Source This article is a summary of reporting by [CoinDesk](https://www.coindesk.com/web3/2026/08/29/a-usd1-1-million-crypto-card-hack-crashed-a-neobank-s-token-49), written by an automated editorial pipeline. See https://www.cryptocatalyst.news/editorial-policy. ## How to cite CryptoCatalyst.news, "Neobank's Token Plummets 49% After $1.1M Crypto Card Hack", 2026-08-30, https://www.cryptocatalyst.news/articles/2026-08-30-neobanks-token-plummets-49-after-11m-crypto-card-hack