French bank Crédit Mutuel Arkéa confirms cyberattack enabled fraudulent transactions; reports put losses above €100M
The Brittany-based bank says the incident is under control, customers will bear no loss and some transactions are suspended; Le Télégramme puts the theft at €118M ($133M), which the bank has not confirmed, after ZachXBT traced funds through crypto exchanges.
Why it matters
This is one of the largest reported thefts from a European bank through a cyberattack, and the money was reportedly converted to cryptocurrency to leave the bank. Crédit Mutuel Arkéa has confirmed fraudulent transactions but not the amount; Le Télégramme reports €118 million. ZachXBT says losses may be higher once over-the-counter trades are counted. The bank's app was unavailable on Wednesday morning. Watch for an official loss figure, how the attackers got in, and whether exchanges such as Kraken, Crypto.com and OKX freeze more funds.
Key facts
- Bank: Crédit Mutuel Arkéa (Brittany and South-West federations)
- Reported theft: €118 million ($133 million), per Le Télégramme
- Bank says customers bear no financial loss
- Some transactions temporarily suspended
- Funds traced through Kraken, Crypto.com and OKX accounts