Crédit Mutuel Arkéa resumes operations after attack, assesses losses
The bank said customer funds were unaffected after attackers accessed its systems through a service provider’s platform.
French banking group Crédit Mutuel Arkéa reported that nearly all operations resumed on Wednesday following a cyberattack. The bank stated that customer funds were unaffected, with security checks and enhanced safeguards responsible for the swift recovery. The attackers gained access to the bank's systems through a service provider's platform, not directly through the bank's online banking subsidiary Fortuneo.
The intrusion resulted in the transfer of the bank's funds to other financial institutions, potentially enabling the conversion of those assets into cryptocurrency. This illicit activity was initially detected through withdrawals made from crypto exchanges such as Kraken, Crypto.com, and OKX, which were subsequently traced by blockchain analytics firm Bitquery.
Analyst ZachXBT flagged over $106 million in suspicious withdrawals on Monday, subsequently increasing his estimate to more than $133 million on Tuesday, after identifying additional $27 million in suspicious transactions. Arkéa confirmed the cyberattack but refrained from disclosing the exact financial impact, stating that they were only able to provide an approximate scale of the loss.
The bank is currently conducting further recovery efforts, while Kraken and Crypto.com have reported that their platforms remained secure despite the incident.
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