Onchain investigator ZachXBT has identified French banking group Crédit Mutuel Arkéa as the alleged victim of a crypto theft that may have exceeded $133 million. The claim has not been independently verified, and the bank has not confirmed its involvement.
ZachXBT said on Wednesday that the institution, which he described as holding $235 billion in assets, was allegedly exploited over several days. He also said the total could be higher if over-the-counter transactions are included, as those may not have appeared in earlier estimates.
The investigator first reported more than $106 million in suspicious withdrawals from centralized exchanges on Monday. He raised the estimate to over $133 million on Tuesday after identifying another $27 million in withdrawals, some of which occurred after his initial warning.
Blockchain analytics firm Bitquery traced withdrawals from accounts at Kraken, Crypto.com and OKX. It found that about $63 million in stablecoins had been converted into Ether within four hours. Kraken and Crypto.com said they had restricted accounts or blocked funds linked to the suspected theft, while stating that their platforms remained secure.
ZachXBT has not explained how the attackers allegedly accessed the funds. Crédit Mutuel Arkéa had not publicly confirmed the claim in the information available.
Sources: Cointelegraph.