Kontigo to Fully Reimburse $340,000 in USDC After Security Breach

Kontigo Security Breach and Reimbursement Plan

Latin American stablecoin neobank Kontigo suffered a security breach, losing over $340,000 in [USDC](https://holder.io/coins/usdt/) from user wallets.
The incident impacted 1,005 users, marking it as a major crypto security event in the region.
Kontigo has promised to fully reimburse all affected customers, handling each case individually.
Security measures were swiftly implemented to isolate affected systems and prevent further losses.
An ongoing investigation seeks to determine the full scope and cause of the breach.
The company is collaborating with external cybersecurity experts for a thorough review.
Kontigo is restoring services under strict monitoring to avoid additional attacks.

Company Background

Founded in 2023, Kontigo operates out of San Francisco, focusing on Latin America and the Latino community in the U.S.
The platform provides USDC savings accounts, cross-border payments, payment cards, and access to tokenized US equities and [Bitcoin](https://holder.io/coins/btc/).
Recently concluded a $20 million seed round, valuing the company at $100 million.