French Bank Credit Mutuel Arkea Confirms Cyberattack as ZachXBT Puts Losses Above $133 Million

French banking group Credit Mutuel Arkea has confirmed that it was the victim of a significant cyberattack. The breach, which occurred through a third-party service provider, allowed malicious actors to conduct fraudulent transfers from the bank's own accounts. Blockchain analytics firm ZachXBT has estimated the total losses resulting from this attack to be upwards of $133 million. The bank acknowledged the incident and stated it is investigating the matter thoroughly. This event underscores the growing threat of sophisticated cyberattacks targeting financial institutions and their supply chains. The substantial sum involved highlights the potential financial devastation such breaches can cause. The bank has not yet detailed the specific vulnerabilities exploited or the measures being taken to prevent future occurrences.