Attackers reportedly exploited a third-party provider to drain the lender’s accounts and funnel stolen funds through other banks
Hackers have stolen around €100 million from French banking group Credit Mutuel Arkea in a sophisticated cyberattack, the lender has confirmed. The attackers exploited a third-party service provider to siphon money into other bank accounts, with some of the funds potentially converted into cryptocurrency.
Blockchain investigator ZachXBT initially estimated the theft at more than $106 million before identifying another $27 million in suspicious withdrawals, bringing the total to over $133 million. In a statement on Wednesday, Crddit Mutuel Arkea acknowledged the scale of the attack but declined to confirm the exact amount stolen.
The hackers reportedly gained access through a compromised external service provider and used the bank’s own account to carry out fraudulent transfers to other financial institutions. The money was then moved through multiple accounts, with investigators examining possible conversions into cryptocurrency.
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