Cybercriminals drained €100m from French bank and converted it into crypto assets

Financial institution Crédit Mutuel Arkéa, which operates at the regional level in France, suffered a cyberattack. As a result of the external intrusion, approximately €100 million disappeared from the bank's account. The perpetrators carried out a series of fraudulent transfers to other banking institutions, but failed to gain access to the personal accounts of the credit organisation's clients.

Mechanism of fund withdrawal

Bank representatives confirmed that the attack has been contained. Following the transfer of funds, the stolen money was subsequently converted into cryptocurrency using the services of specialised trading platforms. Currently, only a portion of these digital assets has been frozen, while the search for and recovery of the remaining funds continues.

Official position and investigation

Crédit Mutuel Arkéa emphasised that the incident is not linked to human error or staff mistakes. The financial institution was hit by a complex external cyberstrike. Meanwhile, the bank did not specify the exact technical method hackers used to breach the information system, nor did it name any potential suspects in the crime.

The Paris prosecutor's office has already launched an official investigation into the case.