Latin American digital bank Kontigo has pledged to compensate its customers after approximately $340,000 worth of stablecoins were stolen.

PANews reported on January 6th that, according to Bloomberg, Kontigo, a digital bank focused on the Latin American market, issued a statement on its X platform on Monday stating that due to a hacker attack, some customers lost approximately $340,905 worth of stablecoins. The company plans to compensate more than 1,000 customers. In an earlier post, Kontigo stated, "We detected unauthorized access, and some users' funds were affected. User funds are protected, and any affected amount will be compensated by Kontigo."

Kontigo is headquartered in San Francisco but focuses on cryptocurrency and payments in Latin America. Since its founding in 2023, the company has grown rapidly and attracted numerous well-known partners. According to its website, Kontigo currently has over 1 million monthly active users and a total platform payment volume exceeding $1 billion. The company recently raised $20 million in seed funding from investors including Y Combinator.