French bank Crédit Mutuel Arkéa exploited for over $133 million, ZachXBT says
ZachXBT said he has a 'high degree of confidence' that the attacker is not associated with North Korea's Lazarus Group.
French bank Crédit Mutuel Arkéa has been exploited for more than $133 million, according to on-chain investigator ZachXBT. The blockchain sleuth published his findings on November 3, 2026, identifying the breach and tracing funds linked to the financial institution. ZachXBT stated he holds a "high degree of confidence" in his findings regarding the nature and origin of the attack.
Notably, ZachXBT indicated that the attacker does not appear to be affiliated with North Korea's Lazarus Group, a state-sponsored hacking collective frequently linked to major crypto thefts. Lazarus Group has been responsible for billions of dollars in stolen digital assets over recent years, making it a common suspect in large-scale exploits. The exclusion of the group from this incident suggests a different threat actor may be responsible, though the identity of the perpetrator has not been publicly confirmed.
The incident highlights the growing vulnerability of traditional financial institutions as they expand their exposure to digital asset infrastructure. Banks and legacy finance players entering the crypto and Web3 space face unique security challenges that differ substantially from conventional cybersecurity threats, and this breach underscores the risks involved in that transition.
Investigators and industry observers will be monitoring whether Crédit Mutuel Arkéa issues an official statement, how law enforcement agencies respond, and whether additional on-chain evidence surfaces to identify the responsible party.
Source: The Block
