Kontigo pledges $340K reimbursement following stablecoin breach

Latin America-based fintech firm Kontigo announced on Monday that it will reimburse more than 1,000 customers who were hacked, following a loss of approximately $340,905 in stablecoins. The Venezuelan platform had earlier stated that it had acknowledged unauthorized access and acted quickly to secure its infrastructure and customers’ funds. It shut dow n sy stems that had been hijacked, activated its security procedures, and informed customers that they’d be compensated. In posts on its official X account, Kontigo assured users that all affected funds are protected under the company’s reimbursement policy and confirmed full reimbursement for losses arising from the breach. Users impacted by the incident were instructed to contact support for personalized assistance. Jesús A. Castillo, the firm’s chief executive, said in a separate statement, “We will resolve this in the next few hours; you can count on it.” Kontigo’s CEO said they identified the hackers responsible On X,...

https://www.cryptopolitan.com/kontigo-to-reimburse-340k-after-hack/