Arkéa Confirms Cyberattack Enabled Fraudulent Transactions

Crédit Mutuel Arkéa said November 4 that a cyberattack enabled fraudulent transactions, but said the incident was under control and customers had not suffered financial losses. The French banking group said it was still assessing the amount affected and did not disclose how attackers gained access. The announcement followed blockchain investigator ZachXBT’s estimate that more than $133 million, or about €118 million, had been stolen. Arkéa has not confirmed that figure. The bank said the transactions had not affected clients financially and that the incident did not threaten the group’s financial strength. Arkéa said it temporarily suspended some transactions as a precaution while it secured operations. It reported that services were resuming after security checks, and said it notified the relevant authorities after detecting the attack. The group did not identify those responsible. ZachXBT said the suspected theft involved funds withdrawn from cryptocurrency exchange accounts over multiple days. He said the total could be higher if over-the-counter transactions were included. His estimate is separate from the bank’s own assessment, which remains incomplete. Blockchain...