A French bank with $235B in assets got hit, and the first public word came from an on-chain sleuth, not the bank.
ZachXBT says more than $133M in $USDC and $USDT left crypto exchange accounts tied to Crédit Mutuel Arkéa over several days.
He flagged an unnamed EU institution on Nov 2. Some of the withdrawals happened after that warning. He named the bank on Telegram, and today Arkéa confirmed a cyberattack that allowed fraudulent transactions.
The bank says the incident is under control and customers lose nothing. It hasn't confirmed the amount or whether crypto was involved.
Bitquery traced about $63M of the stablecoins into 27,553 $ETH within roughly four hours. ETH can't be frozen by an issuer the way USDC can.
ZachXBT's view: without a proper disclosure, $30M+ got laundered that EU law enforcement might have frozen.
#CryptoSecurity #ZachXBT
NFA. DYOR.
ZachXBT says more than $133M in $USDC and $USDT left crypto exchange accounts tied to Crédit Mutuel Arkéa over several days.
He flagged an unnamed EU institution on Nov 2. Some of the withdrawals happened after that warning. He named the bank on Telegram, and today Arkéa confirmed a cyberattack that allowed fraudulent transactions.
The bank says the incident is under control and customers lose nothing. It hasn't confirmed the amount or whether crypto was involved.
Bitquery traced about $63M of the stablecoins into 27,553 $ETH within roughly four hours. ETH can't be frozen by an issuer the way USDC can.
ZachXBT's view: without a proper disclosure, $30M+ got laundered that EU law enforcement might have frozen.
#CryptoSecurity #ZachXBT
NFA. DYOR.
