French Bank Crédit Mutuel Arkéa Confirms Attack After ZachXBT Ties It to a $133 Million Crypto Theft

On-chain investigator ZachXBT has named French cooperative banking group Crédit Mutuel Arkéa as the suspected victim of a theft exceeding $133 million, CoinDesk reported on November 4. He first flagged the theft on Monday at more than $106 million, then found another $27 million in withdrawals from centralized exchanges. The final figure could be higher once over-the-counter trades are included, he said.

Crédit Mutuel Arkéa confirmed the attack to CoinDesk, saying fraudulent transactions had taken place but the situation was now under control. “This incident has no financial consequences for [our clients]. Their interests are fully protected,” a spokesperson said. The bank did not disclose the amount or whether the funds were fiat or crypto. It temporarily suspended some transactions, notified the authorities and is still assessing the impact. The group, which has more than $250 billion in assets under management, applied in May for a MiCA license to offer crypto services, according to L’Agefi.

Analytics firm Bitquery traced $108.8 million in USDC withdrawn from Kraken, Crypto.com and OKX over 21 hours on November 1 and 2, much of it converted into ether and spread across hundreds of wallets. Crypto.com said it has taken action to block funds linked to the incident. ZachXBT said he has a “high degree of confidence” that North Korea’s Lazarus Group was not behind the attack, citing differences in how the funds moved.

Track the market yourself with AiTraderView’s FREE tools: Crypto Cockpit for charts and 75+ indicators, Crypto Screener to find setups, and Crypto Portfolio to follow your holdings. Just create a FREE account and try them yourself!

Sources:

• CoinDesk: ZachXBT names French bank Crédit Mutuel Arkéa as suspected victim of $133 million crypto theft

• Bitquery: EU $106M crypto theft investigation