French Bank Crédit Mutuel Arkéa Confirms Cyberattack as Suspected Losses Reach $133 Million

A cyberattack on Crédit Mutuel Arkéa let criminals make fraudulent transfers from the bank’s own account, and the money was then turned into crypto through specialized platforms. The bank says customers were not affected and the incident is now under control.

What the Bank Says About the Attack

In a Wednesday statement, the bank said its teams acted as soon as the breach was spotted, and that the only effect on clients was a delay in some transfers. It did not give a final loss figure but accepted that the order of magnitude matches the $133 million estimate. Some of the stolen money has been blocked, and the bank insists the amounts do not threaten its financial strength. It serves over 5.8 million members and customers and reports assets of €211.5 billion, or $238.1 billion.

How the Stolen Funds Were Moved

Onchain investigator ZachXBT first raised the alarm on Nov. 2 and said losses could climb, since the attack ran over several days and may have involved over the counter deals. He tracked the attacker swapping USDC for ETH, using instant exchanges such as WellWallet and Kyrrex, converting funds into Monero through Wagyu and bridging assets across several blockchains.

Who Is Behind It

ZachXBT said he has high confidence the attacker is not linked to North Korea’s Lazarus Group.