Kontigo, a stablecoin banking startup focused on the Latin American market, announced that it has reimbursed 1,005 users after a security breach last weekend, with total damages amounting to approximately $340,905 USD in stablecoin. The incident also affected the personal accounts of co-founder and CEO Jesus A. Castillo. He described it as a targeted attack aimed at both the leadership and customers, and confirmed that the perpetrators have been identified.
Kontigo disclosed the incident on January 5th and completed the reimbursements just one day later, emphasizing full responsibility and affirming that the platform’s operations remain stable. The incident occurred amid rapid growth for the startup, which raised $20 million in seed funding at the end of December and plans to expand its headquarters in Silicon Valley. Kontigo claims to have over 1 million users, an annual revenue of $30 million USD, and a total payment volume exceeding $1 billion USD.
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