Avici Users Lose $500K in Solana Rain Card Exploit
Solana (SOL)
Editor:
Eugene Serbin
newsbitcoin.cash reports that Avici, a neobank on Solana, lost $500,859 from 1,685 users due to an exploit in Rain's smart contract. The vulnerability stemmed from a deprecated version of Rain's contract that remained active in production despite being outdated. This operational oversight allowed attackers to drain funds from consumer accounts during active trading sessions.
The incident highlights systemic failures in contract lifecycle management, where legacy logic continued to process transactions. Avici and Rain have committed to making all affected users whole, absorbing the liability for the breach. The loss, while serious, is contained relative to larger sector exploits, allowing both companies to manage the financial impact.
The event underscores the opacity of layered infrastructure, as users could not verify which contract version processed their transactions. Solana's popularity for fintech apps brings complexity in managing these contract dependencies across integrated programs. Both companies are expected to provide detailed post-mortems to rebuild trust through transparency. The window for demonstrating rigorous remediation is currently open for both Avici and Rain.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 29 August 2026. Not the outlet's figures.
SOL is trading at $104.15 with a 1-hour buy ratio of 58.0% and a 4-hour buy ratio of 54.1%, indicating short-term buying pressure. This contrasts with the 24-hour buy ratio of 47.4%, suggesting that recent momentum has shifted toward buyers after a longer period of selling. The 1-hour volume delta is positive at +$2,561,844, showing immediate accumulation, while the 24-hour volume delta is negative at -$23,550,569. The Cumulative Volume Delta (CVD) for the 24-hour period closed at -$9,534,191, reflecting that net selling dominated the day overall. However, the current positive volume delta suggests that buying pressure is building in the immediate term. This shift indicates a potential reversal or stabilization after a day of net outflows.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Twenty-four hours later
What SOL did over the 23 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, SOL saw a 7-day average buy ratio of 52.9%, which is higher than the current 24-hour ratio of 47.4%. The latest day's buy ratio is 5.4 points lower than this weekly average, marking a deviation from the recent trend. Volume for the day was 1.00x the average, indicating normal trading activity without unusual spikes. The coin has gained 11.1% over the past 8 days, with a total volume delta of +$161,909,562. This recent performance shows a strong upward trend, making today's lower buy ratio an unusual dip in an otherwise bullish week.