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AI summary of a third-party reportBearishNewsDesk

ZachXBT says Crédit Mutuel Arkéa was alleged victim of $133m crypto theft

The onchain investigator says the French banking group was allegedly exploited over several days, with losses possibly exceeding $133m once over-the-counter activity is counted. The bank has not confirmed the claim.

Why it matters: The case ties a major European banking group to a nine-figure alleged crypto theft, and exchanges have already moved to restrict accounts or block funds linked to it.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: ZachXBT says Crédit Mutuel Arkéa was alleged victim of $133m crypto theft
Image: Cointelegraph
Original reporting: Ezra Reguerra, Cointelegraph

Key points

  • ZachXBT named Crédit Mutuel Arkéa, which he described as holding $235bn in assets, as the alleged victim on 4 November.
  • He first flagged over $106m in suspicious exchange withdrawals on Monday, then raised the estimate to over $133m on 3 November after another $27m was found.
  • Bitquery traced withdrawals from Kraken, Crypto.com and OKX accounts, with about $63m in stablecoins converted to Ether within four hours.

ZachXBT suggested that further losses may have come through over-the-counter transactions left out of earlier estimates, saying he suspected the amount stolen was larger once that activity was counted. Crédit Mutuel Arkéa had not responded to Cointelegraph's request for comment by publication.

The disclosure follows his initial report on Monday, when he flagged over $106m in suspicious withdrawals from centralised exchanges. On Tuesday he raised the estimate to over $133m after finding another $27m in withdrawals, some of which took place after his first warning.

Read the full story on Cointelegraph

Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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