share screenshots<\/a> showing unauthorized attempts to access their accounts. As of press time, it is not known if these reports are directly connected to the breach.<\/p>\n\u201cKontigo will reimburse 100% of the impacted amounts,\u201d the neobank stated, adding that the restitution process is being handled on a case-by-case basis in accordance with the firm\u2019s security protocols.<\/p>\n
<\/p>\n
Among other post-incident measures, the firm is also operating under a \u201creinforced monitoring scheme\u201d as systems are gradually brought back online to ensure operational integrity.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Crypto industry under attack?<\/h2>\n
The latest incident comes just as the industry remains on edge over a wave of large-scale attacks targeting crypto users.<\/p>\n
Last month, Binance-owned Trust Wallet became the victim of a significant exploit that targeted users of its Google Chrome extension. Total losses have been estimated to surpass $7 million, and the firm has publicly vowed to compensate all affected users.<\/p>\n
Meanwhile, on Jan. 5, blockchain security firm SlowMist rang the alarm bells on a major phishing campaign designed to trick MetaMask users into giving up their seed phrases under the guise of activating Two-Factor Authentication.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Venezuela-focused stablecoin neobank Kontigo has announced plans to compensate customers after over $340,000 in USDC was drained from customer wallets in a security breach. Summary Kontigo said more than $340,000…<\/p>\n","protected":false},"author":1,"featured_media":13793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=19252"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19252\/revisions"}],"predecessor-version":[{"id":19253,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19252\/revisions\/19253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/13793"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=19252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=19252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=19252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}