French regional banking group Credit Mutuel Arkea has suffered a major cyberattack that enabled hackers to carry out fraudulent transactions worth approximately €100 million ($112 million).
The bank confirmed on Wednesday that attackers gained unauthorized access to its corporate account and transferred funds to other financial institutions. However, the hackers did not access customer accounts, and the bank assured clients that their money remained safe.
According to the bank, the stolen funds were subsequently converted into cryptocurrencies through specialised platforms. Arkea said investigators had managed to freeze some of the assets, while efforts continued to recover the remaining money.
The financial institution described the incident as a sophisticated external attack and ruled out human error. However, it declined to disclose technical details or identify those responsible.
Meanwhile, the Paris public prosecutor’s office has launched an investigation into the incident, describing it as an attack on an automated data processing system by an organised group.
The bank has not confirmed reports suggesting losses could reach $133 million. It stressed that the incident would not threaten its financial stability.
Independent blockchain investigator ZachXBT initially exposed the suspicious transactions, reporting that hackers had moved funds through multiple cryptocurrency exchange accounts.
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