Stablecoin-focused fintech Kontigo reimburses over 1,000 users after hack

Latin America-focused stablecoin banking startup Kontigo confirmed it fully reimbursed 1,005 affected users with $340,905 worth of stablecoins by January 6th, following a security breach disclosed on January 5th. Co-founder and CEO Jesus A. Castillo stated the company took responsibility, identified the attackers, and warned them of consequences. This incident occurred shortly after Kontigo announced a $20 million seed funding round led by FoundersX Ventures on December 22nd, intended to fuel product development and market penetration. The rapid growth of the Y Combinator-backed firm, which claims $30 million in annualized revenue and over 1 million users, has also been shadowed by a recent dispute over banking access, where an intermediary reportedly froze accounts due to compliance concerns, a claim Castillo refuted.

(Source：The Block)