Y Combinator-Backed Kontigo Faces Mysterious Second Cyberattack, Leaves Users Locked Out Again
Ever wonder what it feels like for a fintech startup to get hit by not one—but two cyberattacks in just a few days? Kontigo, a Venezuela-focused fintech with backing from Y Combinator and a cool $22 million raised in 2025, is living that nightmare in 2026. After a serious breach on January 5 that siphoned off 340,000 USDC from over a thousand users, the company recently detected yet another attempt to compromise wallet authentication. They quickly pulled the emergency brake, activating protection protocols and temporarily shutting down platform access while scrambling to patch things up. Meanwhile, co-founder Camilo Sánchez has stepped forward, promising to cover all damages—a reassuring move as users report their accounts drained without a single transaction showing up. It’s a wild ride that raises a pressing question: in the high-stakes world of crypto security, how many hits can a fintech take before it truly stumbles? Dive into the full story and what this means for user trust and industry resilience. LEARN MORE.
Key Notes
- The Venezuela-focused fintech detected compromised wallet authentication and activated emergency protocols.
- Co-founder pledged to cover all damages while users reported drained accounts without transaction records.
- This follows a January 5 attack that stole 340,000 USDC from over 1,000 users.
The startup Kontigo, backed by Y Combinator and which raised $22 million in 2025, was attacked again and has paused access to its platform, according to a statement posted on its X account. This would be its second cyberattack affecting its services so far in 2026.
According to a statement from Kontigo’s X account, the company claims to have detected a new attempt to compromise its authentication processes for accessing user wallets. They said they contained the situation and activated protection protocols, including temporarily disabling platform access while they rolled out a new update.
Comunicado: Detectamos un nuevo intento de ataque dirigido a nuestros procesos de autenticación. Nuestro equipo de seguridad lo contuvo a tiempo y activó protocolos adicionales.
🕑 Próxima actualización: 2:00 p. m. pic.twitter.com/MDnViMytiR
— Kontigo.com (@kontigo_app) January 8, 2026
In the message, they stated that they would provide an update on the case at 2 PM Caracas time. Before that message, at 10:38 AM Caracas time, one of the co-founders, Camilo Sánchez, reported the new issue affecting Kontigo and assured that “Kontigo will cover any damages that may have occurred.” He also apologized to users for the inconvenience.
A search on X shows that in an earlier report, at 9:27 AM Caracas time, user @InversionesRCI claimed that their account had been drained again, but this time no transaction record remained. After the official statement was issued, multiple user reports appeared about being unable to access their Kontigo accounts.
Second Attack on Kontigo Affecting Its Services in 2026
On Jan. 5, Kontigo reported an attack that resulted in the theft of approximately 340,000 USDC, affecting approximately 1,005 users. The company later announced that it would improve its security measures and reimburse all affected Kontigo users. According to comments on X, the reimbursement was successfully executed, leaving only a few users with support issues unrelated to the hack.
Kontigo’s co-founder, Camilo Sánchez, posted on Jan. 7 on X that they were working to stabilize access to the app and that within 24 to 48 hours, they would publish a technical report with details about the first hack. With this new attack, users are awaiting an update on their impact, and the release of the first report is likely delayed.
Hacks in the cryptocurrency industry are, unfortunately, common. In 2025 alone, there were thefts targeting major exchanges such as Bybit, Nobitex, and Upbit, with total losses exceeding $1 billion. In those cases, the exchanges did not go bankrupt; however, the attacks significantly impacted their operations, and they have continued to operate, much like Kontigo, which is trying to recover despite suffering two successive attacks within days.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
José Rafael Peña Gholam is a cryptocurrency journalist and editor with 9 years of experience in the industry. He wrote at top outlets like CriptoNoticias, BeInCrypto, and CoinDesk. Specializing in Bitcoin, blockchain, and Web3, he creates news, analysis, and educational content for global audiences in both Spanish and English.
