Bangle 2 button no longer works - feels soft when pressing

The first image is the correct placement, or is it already lifted out of place on the picture? Is the button itself made from magnetic materials? Maybe a strong magnet could pull it back in place. I only have tiny neodymium magnets, those seem to do nothing.
I could try opening the watch to verify the problem, but my success rate getting sealed devices back to being sealed is not that great :)
The idea of drilling a hole seems a bit dangerous to me, since the position of the button board is not known, so damaging something is quite possible. If not during drilling, then presumably during poking around in the device with something solid enough to manipulate the button back into position.