French Bank Crédit Mutuel Arkéa Suspected Victim of $133 Million Crypto Theft

French financial institution Crédit Mutuel Arkéa is suspected of being the victim of a major crypto theft exceeding $133 million, according to blockchain investigator ZachXBT, with exchange Crypto.com confirming it has blocked related funds.

ZachXBT, a prominent on-chain investigator, publicly identified the bank as the likely entity behind a series of compromised crypto exchange accounts. The total estimated loss from the alleged theft is over $133 million.

In response to the investigation, the cryptocurrency exchange Crypto.com stated it has taken action to block funds associated with the incident. The exchange’s confirmation adds a layer of institutional verification to the on-chain findings.

The incident highlights the persistent security challenges facing traditional financial institutions as they engage with digital asset markets. The scale of the suspected loss would mark one of the more significant thefts involving a European bank’s crypto holdings.