French Bank Crédit Mutuel Arkéa Allegedly Targeted in $133 Million Crypto Theft
Key Takeaways
- •Blockchain investigator ZachXBT alleges that Crédit Mutuel Arkéa, a major French banking group with over $235 billion in assets, was the target of a cryptocurrency theft totaling more than $133 million.
- •The estimated losses initially stood above $106 million on November 2 and rose after ZachXBT identified an additional $27 million in withdrawals from centralized exchange accounts.
- •The suspected attacker converted stolen USDC and USDT into ETH, routed funds through instant exchanges such as WellWallet and Kyrrex, swapped them into Monero via Wagyu, and moved them across multiple blockchains using bridges.
- •Kraken restricted accounts linked to the incident while stating its own systems and customer accounts were not compromised, Crypto.com moved to block related funds, and OKX began reviewing the allegations.
- •ZachXBT indicated the full extent of the losses could grow further if possible over-the-counter transactions are eventually taken into account.
Crédit Mutuel Arkéa, one of France's major banking groups with more than $235 billion in total assets, is allegedly the institution targeted in a cryptocurrency theft exceeding $133 million.
The bank has not confirmed any involvement in the incident. As of November 4, it had issued no official statement regarding the alleged theft.
How the Numbers Grew
Blockchain investigator ZachXBT named the institution in a new disclosure, saying the attack spanned multiple days and suggesting that the total amount stolen could be higher. According to ZachXBT, the reported losses may understate the actual figure because they do not account for possible over-the-counter activity.
The incident first came to light on Monday, Nov. 2, when ZachXBT reported that an unidentified European entity had allegedly lost more than $106 million through withdrawals from centralized exchange accounts on Nov. 1. The estimated losses rose above $133 million on Tuesday after ZachXBT identified another $27 million in exchange withdrawals.
How the Funds Moved
The suspected attacker moved funds in the stablecoins USDC and USDT, converted them into ETH, and routed transactions through instant exchanges such as WellWallet and Kyrrex. The funds were subsequently swapped into Monero through Wagyu and transferred across multiple blockchains using bridges.
Exchange Responses
Kraken restricted the accounts associated with the incident and said its own systems and customer accounts were not compromised. Crypto.com also took steps to block related funds, while OKX began reviewing the allegations.
ZachXBT indicated that the full extent of the losses could grow further if potential over-the-counter transactions are ultimately taken into account.
This article is based on reporting by CryptoBriefing, published Nov. 3, 2026.
