Onchain investigator ZachXBT has identified French banking group Credit Mutuel Arkea as the reported victim of a cryptocurrency theft exceeding $133 million. The investigator claims the attack on the bank spanned several days and suggests the total loss may be higher when accounting for over-the-counter activity.
The incident reportedly involved unauthorized withdrawals from accounts at multiple crypto exchanges on November 1. Funds were initially withdrawn as USDC and USDT, then converted into ETH and Monero, and bridged across various chains. ZachXBT has publicly shared four Ethereum addresses he links to the theft.
Credit Mutuel Arkea, which manages assets totaling $235 billion, has not confirmed the incident. The bank previously applied for a license under the EU MiCA framework in May to offer retail crypto services and white-label solutions through its Arkea Banking Services division.
ZachXBT stated that the attacker remains unidentified but noted that laundering indicators suggest the perpetrator is not the North Korean hacking collective Lazarus Group. The investigator criticized the institution for failing to disclose the incident, which he claims hindered efforts to freeze $30 million in assets.
