French banking group Crédit Mutuel Arkéa said on Wednesday that a cyberattack had enabled fraudulent transactions, but assured customers that they would not suffer any financial losses.
The bank, headquartered in Brittany in western France, said its security teams had detected the incident and brought the attack under control. It also confirmed that temporary measures had been introduced to protect its operations and prevent further unauthorised transactions.
Management said the bank had decided to temporarily suspend certain transactions as a precaution while its teams worked to secure the affected systems.
Reports in French media suggested that around $133 million (€118 million) had been stolen in the incident. However, Crédit Mutuel Arkéa has not confirmed the reported figure, and the full financial impact remains unclear.
The bank told French newspaper Le Parisien that some of the funds had been frozen and that an assessment was still under way to establish the amount involved. It has not disclosed how much money was affected or how much could ultimately be recovered.
The incident was first brought to public attention by ZachXBT, an independent investigator known for tracking suspicious cryptocurrency transactions and investigating financial fraud involving digital assets.
According to AFP, ZachXBT said the funds involved in the alleged theft had been transferred through multiple accounts on cryptocurrency exchanges. The movement of money through different platforms can make it more difficult for investigators to trace transactions and establish where the funds have gone.
The bank has not provided details about the technical methods used in the attack, nor has it identified any individuals or groups suspected of carrying it out.
Crédit Mutuel Arkéa said the temporary suspension of certain transactions would remain in place until the necessary security checks and protective measures had been completed. It expects normal services to resume shortly.
The incident highlights the continuing cybersecurity risks facing financial institutions as criminals increasingly target banking systems and digital payment channels.
For now, the bank’s priority is to complete its investigation, secure its systems and restore affected services while assessing the full extent of the fraudulent activity.
Although the reported €118 million figure has not been independently confirmed by the bank, its assurance that customers will not face financial losses is intended to reassure account holders while the investigation continues.
