French Bank Crédit Mutuel Arkéa Alleged Victim of Crypto Theft Over $133 Million

Onchain investigator ZachXBT said on Wednesday that the French banking group Crédit Mutuel Arkéa appears to be the victim of a crypto theft worth more than $133 million. He describes the institution as holding $235 billion in assets and says it was drained over several days. He also suspects the real total is higher, since over-the-counter deals were left out of earlier estimates. The bank has not confirmed any involvement and did not respond to a request for comment, and the claim has not been independently verified.

How the Estimated Losses Grew

His first report came on Monday, when he flagged more than $106 million in suspicious withdrawals from centralized exchanges. On Tuesday he raised the figure above $133 million after finding another $27 million, part of which left after his first warning.

Exchanges Respond to the Stolen Funds

Blockchain analytics firm Bitquery traced withdrawals from accounts at Kraken, Crypto.com and OKX, and found that around $63 million in stablecoins was swapped into Ether within four hours. Kraken and Crypto.com both said they restricted accounts or blocked funds tied to the suspected theft, and stated that their own platforms remain secure.