Kontigo, a Venezuela-focused stablecoin neobank, suffered a security breach that led to about $340K in USDC being drained from 1,005 customer wallets. The firm immediately isolated affected systems and publicly vowed to reimburse 100% of all impacted users.

"Founded in 2023, Kontigo is a San Francisco-based financial technology company that specifically targets the Latin American market and the Latino community in the United States. It offers stablecoin-based financial services such as USDC-denominated savings accounts, cross-border payments, debit and credit cards, and investment access to tokenized U.S. stocks and Bitcoin. Kontigo is backed by major investors, including Y Combinator, DST Global, and Coinbase Ventures, and closed a $20 million seed funding round last month that valued the company at $100 million."

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