Crédit Mutuel Arkéa says the cyberattack behind what it called fraudulent operations is contained. In a statement on November 4, the French banking group said the case was closed and under control, and that customer assets weren’t affected. It also said some transfers were delayed while it assessed the sums involved and worked with authorities.
The bank hasn’t confirmed a crypto-loss figure or publicly tied the full amount to crypto. The largest public trace comes from on-chain investigator ZachXBT. He first flagged more than $106 million in suspicious withdrawals from accounts at several exchanges. A later update added at least $27 million, bringing the total above $133 million.
ZachXBT said the funds moved as USD Coin and Tether, then were swapped into Ethereum and routed across multiple chains through instant-swap services and privacy-coin rails including Monero. Those stablecoin transfers leave public blockchain records, allowing investigators to follow wallet-to-wallet movements, group addresses and track where assets are exchanged.
The route gets less transparent once funds move into privacy-focused coins like Monero. That doesn’t make tracing impossible, but it can limit what investigators can establish from public transactions after a conversion. So the bank’s account and the on-chain trail remain distinct: Arkéa says customers weren’t affected, while ZachXBT’s tracing identifies large suspicious outflows without confirming their final destination or the full connection to the attack.