Summary French banking giant Crédit Mutuel Arkéa confirmed a major cryptocurrency theft involving fraudulent transfers, assuring customers their assets remained unaffected. Blockchain investi
French banking group Crédit Mutuel Arkéa has confirmed a major cyberattack involving fraudulent transfers that criminals converted into cryptocurrency. The disclosure follows blockchain investigator ZachXBT’s discovery of suspicious transactions involving more than $133 million in potentially stolen funds.
According to the bank’s Wednesday statement, attackers transferred money from its account through specialized cryptocurrency platforms during the security breach. Crédit Mutuel Arkéa assured customers that their deposits remained unaffected, while its security teams contained the incident and prevented additional transfers.
The institution also confirmed that recovery efforts had blocked some stolen funds, although certain legitimate customer transfers experienced temporary delays.
“Our teams immediately activated the necessary security measures,” the bank stated.
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Blockchain investigator ZachXBT publicly flagged the suspected theft on November 2 after identifying suspicious cryptocurrency transactions connected to the incident. According to ZachXBT, the attacker transferred stolen funds through several cryptocurrency services while exchanging assets and moving holdings across networks.
The investigator estimated losses exceeding $133 million, warning that additional transactions could increase the total amount involved in the breach. Notably, the suspicious activity reportedly unfolded over several days and potentially involved additional transactions through over-the-counter cryptocurrency trading services.
ZachXBT identified transactions involving USD Coin (USDC), which the attacker exchanged for Ethereum (ETH) before routing funds through other platforms. The reported services included WellWallet and Kyrrex, while additional transactions involved converting cryptocurrency into privacy-focused Monero (XMR) through Wagyu.
Further investigations identified transfers across multiple blockchain networks, while ZachXBT expressed high confidence that North Korea’s Lazarus Group was uninvolved.
Crédit Mutuel Arkéa has not disclosed its final financial losses, although the institution acknowledged the approximate scale identified by ZachXBT. The bank explained that investigators were still determining the amount involved while working with relevant partners to recover additional funds.
Significantly, the institution emphasized that the incident would not undermine its financial strength or threaten its overall financial stability. Crédit Mutuel Arkéa serves more than 5.8 million members and customers, employs over 12,000 people, and reports assets totaling €211.5 billion. The investigation remains ongoing as the institution works to establish its final losses and recover additional funds linked to fraudulent transfers.
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