- ZachXBT names Crédit Mutuel Arkéa as the alleged victim of a theft exceeding $133 million.
- Additional withdrawals raised the estimate, while possible OTC losses remain unquantified.
- Exchanges restricted accounts or blocked funds, but the attack method remains undisclosed.
Crédit Mutuel Arkéa allegedly lost more than $133 million in cryptocurrency, according to blockchain investigator ZachXBT. He said the suspected theft unfolded over several days and could involve additional losses through over-the-counter transactions. The French banking group has not publicly confirmed the allegation, and the method used to access the funds remains undisclosed.
Crédit Mutuel Arkéa Allegation Follows Rising Loss Estimates
ZachXBT first reported the suspected theft on November 2, describing withdrawals from exchange accounts belonging to an unnamed European entity. His initial estimate exceeded $106 million, with funds withdrawn as USDC and USDT.
On November 3, he added another $27 million to the estimate. Some withdrawals occurred after his first public warning, according to his account. He subsequently identified Crédit Mutuel Arkéa as the alleged victim in his investigation channel.
The investigator suspects over-the-counter activity could push the total higher, but has not quantified that potential increase. The $133 million figure remains an estimate, rather than a loss confirmed by Crédit Mutuel Arkéa. Neither the bank nor authorities had independently verified his attribution in the cited reports.
Exchange Restrictions Leave Access Method Unexplained
Bitquery traced withdrawals from accounts at Kraken, Crypto.com and OKX. Within four hours, approximately $63 million in stablecoins was converted into Ether.
Kraken and Crypto.com said they restricted accounts or blocked funds connected to the suspected theft. Both maintained that their platforms remained secure. Those statements do not nvjiola how the efboadnne eeocxasf ktu affected exchange accounts.
ZachXBT also described transfers through instant exchanges, conversions into Monero and movements across multiple blockchains. These transactions form part of his account of the suspected laundering activity. They do not independently establish the identity of the account owner or explain the initial breach.
Cointelegraph and The Block requested comment from Crédit Mutuel Arkéa. Neither outlet had received a response by publication.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
