Credit Mutuel Arkea says hackers used its banking account to transfer funds to other banks before converting part of the money into cryptocurrency.
PARIS: French regional banking group Credit Mutuel Arkea has suffered a major cyberattack involving fraudulent transactions worth approximately €100 million ($112 million), raising fresh concerns about cybersecurity risks facing financial institutions.
The bank confirmed that hackers gained unauthorized access to one of its banking accounts and used it to transfer funds to other financial institutions. However, the attackers did not access customers’ personal accounts, and the bank said clients had suffered no financial losses.
Credit Mutuel Arkea described the incident as a sophisticated external attack and ruled out human error as the cause. The bank said the incident had been contained after suspicious activity was detected and security measures were implemented.
The stolen funds were subsequently converted into cryptocurrencies through specialised platforms. A portion of the money has reportedly been blocked, while recovery efforts are continuing to trace and retrieve the remaining funds.
The exact financial loss remains under assessment. The bank did not confirm a separate media-reported estimate of $133 million, although it acknowledged the scale of the fraudulent transactions.
The Paris public prosecutor’s office has opened an official investigation into the incident. The case involves an alleged organised attack targeting an automated data processing system.
Blockchain investigator ZachXBT previously highlighted suspicious transactions linked to cryptocurrency platforms, bringing attention to the alleged movement of funds through multiple accounts.
The bank has maintained that the incident will not threaten its financial stability. Credit Mutuel Arkea also reported a net profit of €230 million during the first half of 2026, highlighting its financial position despite the cyberattack.
The incident adds to growing concerns about sophisticated cybercrime targeting financial institutions and the increasing use of cryptocurrency platforms to move potentially stolen funds.
Authorities are continuing their investigation, while the bank works to recover the affected money and strengthen its security arrangements. The identities of those responsible and the precise method used to carry out the attack have not yet been publicly established.
