Venezuela-focused crypto startup loses $341K in cybertheft
- Key insight: The theft occurred shortly after the startup lost access to the U.S. banking system, with former partners like Checkbook and JPMorgan Chase citing compliance risks.
- Supporting data: Attackers drained nearly $341,000 in USDC from 1,005 user accounts, though the company says it has now processed refunds for 100% of the impacted amounts.
- What’s at stake: Kontigo’s operations face heightened uncertainty as U.S. military actions and the recent arrest of Nicolás Maduro complicate the already difficult compliance landscape in Venezuela.
Overview bullets generated by AI with editorial review
Processing Content
Attackers recently stole the equivalent of $341,000 in stablecoin from Kontigo, a financial app serving Latin America, forcing…
