French Bank Crédit Mutuel Arkéa Targeted in Suspected $133M Crypto Theft

French Banking Giant Faces Major Crypto Theft Allegations

On Wednesday, the anonymous crypto analyst revealed that the company, which reportedly manages assets worth $235 billion, had been exploited over several days. He further hinted that additional losses might have occurred through off-exchange (OTC) trades that were not factored into earlier assessments.

"I believe the stolen sum may be higher once OTC market activity is taken into account," ZachXBT commented.

There has been no independent confirmation of the bank’s involvement, and ZachXBT has not shared details on how the hackers accessed the funds.

Cointelegraph reached out to Crédit Mutuel Arkéa for comment but had not received any response by the time of publication.

This disclosure follows ZachXBT’s earlier report on Monday, where he flagged suspicious withdrawals totaling more than $106 million from centralized cryptocurrency exchanges.

By Tuesday, the estimated loss figure had increased to over $133 million after an additional $27 million in withdrawals were uncovered, some occurring after the initial alert was issued.

Blockchain analysis firm Bitquery tracked the movement of funds from accounts on Kraken, Crypto.com, and OKX. It discovered that about $63 million in stablecoins were converted into Ether (ETH) within a span of four hours.

In response, Kraken and Crypto.com informed Cointelegraph that they had restricted accounts or frozen funds linked to the alleged theft. Both platforms maintained that their security measures remain intact.