French banking group Credit Mutuel Arkea confirmed it was the victim of a sophisticated cyberattack, from which more than $133 million is suspected to have been stolen. The hackers exploited the compromised systems of an external service provider to gain access and carry out fraudulent transfers to other financial institutions.
According to blockchain investigator ZachXBT, more than $106 million in suspicious withdrawals were initially identified, and another $27 million was later uncovered. Part of the funds are suspected to have been transferred through several bank accounts and may have been converted into cryptocurrency.
French prosecutors have launched an investigation into the attack, while the perpetrators have not yet been identified. The bank said it has managed to freeze part of the stolen money and is cooperating with other institutions to recover it. According to the bank, customer accounts and funds were not affected by the incident.
