ZachXBT Names Arkéa in Alleged $133 Million Crypto Theft

On-chain investigator ZachXBT has identified French banking group Crédit Mutuel Arkéa as the suspected victim of a cryptocurrency theft he estimates at more than $133 million. The bank had not publicly confirmed or denied the alleged incident as of November 4, and the estimate has not been independently verified. ZachXBT first reported on November 2 that an unnamed European entity had lost more than $106 million through withdrawals from centralized exchange accounts. He later raised the estimate above $133 million after tracing additional withdrawals exceeding $27 million, some of which he said occurred after his initial warning. He named Crédit Mutuel Arkéa as the suspected institution in a subsequent update. The investigator said the total could be higher if over-the-counter transactions are included, but did not provide an amount for that possible activity. He has not disclosed how the accounts were accessed. The bank’s alleged role and the overall loss remain unconfirmed by the institution or authorities. Blockchain analytics firm Bitquery traced about $108.8 million in USDC withdrawals from accounts at Kraken, Crypto.com and OKX over roughly 21 hours on November 1 and 2....