French bank Crédit Mutuel Arkéa hit by $133M cyberattack, funds may have moved to crypto

French banking group Crédit Mutuel Arkéa has revealed on November 4 that hackers used its own account to make fraudulent transfers in a cyberattack involving a reported €118 million ($133 million), with some funds potentially converted into cryptocurrency. Summary Crédit Mutuel Arkéa disclosed a cyberattack involving a reported €118 million ($133 million), but has not confirmed the exact loss. Hackers accessed the French bank through a third-party service provider and transferred money using its own account. The stolen funds may have been converted into cryptocurrency, although the bank has not confirmed any such transactions. Some affected funds have been blocked, and the bank says customer assets were not affected by the attack. The lender has contained the incident and is working with law enforcement to identify the attackers and recover the funds. The lender said attackers entered through a third-party service provider’s platform before gaining access to the bank, in a statement. They transferred money to other financial institutions, where it may subsequently have been converted into cryptocurrency. Meanwhile, the bank acknowledged that the reported loss was within the correct...