French Bank Arkea Confirms Cyberattack Involving Fraudulent Transactions
(MENAFN) French banking group Credit Mutuel Arkea confirmed on Wednesday that it had been targeted in a cyberattack involving fraudulent transactions, following reports of a major cryptocurrency theft.
The confirmation came after blockchain investigator ZachXBT alleged that hackers had stolen more than $133 million, subsequently moving part of the funds through cryptocurrency platforms to conceal their origins.
Arkea did not verify the reported value of the stolen assets, but said the incident had no financial impact on its customers.
According to ZachXBT, the operation unfolded over several days, with stolen funds transferred through cryptocurrency exchanges and converted into stablecoins, digital currencies designed to maintain a fixed value linked to assets such as the US dollar.
The investigator also claimed that delays in notifying authorities enabled the attackers to launder more than $30 million that European officials might otherwise have been able to freeze.
Arkea said its teams responded immediately after identifying the breach, temporarily suspending certain transactions as a precaution to protect its systems and prevent additional fraudulent activity.
The reported amount involved in the incident has not been independently confirmed.
The bank, which is headquartered in Brittany in western France, said the cyberattack had been contained.
The confirmation came after blockchain investigator ZachXBT alleged that hackers had stolen more than $133 million, subsequently moving part of the funds through cryptocurrency platforms to conceal their origins.
Arkea did not verify the reported value of the stolen assets, but said the incident had no financial impact on its customers.
According to ZachXBT, the operation unfolded over several days, with stolen funds transferred through cryptocurrency exchanges and converted into stablecoins, digital currencies designed to maintain a fixed value linked to assets such as the US dollar.
The investigator also claimed that delays in notifying authorities enabled the attackers to launder more than $30 million that European officials might otherwise have been able to freeze.
Arkea said its teams responded immediately after identifying the breach, temporarily suspending certain transactions as a precaution to protect its systems and prevent additional fraudulent activity.
The reported amount involved in the incident has not been independently confirmed.
The bank, which is headquartered in Brittany in western France, said the cyberattack had been contained.
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