On-chain researcher ZachXBT said the organization he believes was affected by a crypto theft exceeding $133 million is French banking group Crédit Mutuel Arkéa.
In a statement dated November 4, reported by Wu Blockchain, ZachXBT identified the European Union-based organization he had not previously named. The Crédit Mutuel Arkéa group he identified has approximately $235 billion in assets.
On November 1, ZachXBT reported that the organization may have lost more than $106 million from accounts at multiple centralized cryptocurrency exchanges. In the alleged theft, which was later estimated at more than $133 million, the latest statement focused on the name of the institution said to have been affected.
From USDC and USDT to Ethereum and Monero
According to the transaction trail shared by the researcher, the suspected attacker first withdrew the funds in USDC and USDT. The assets were then converted into Ethereum (ETH) and privacy-focused Monero (XMR) and moved across different blockchains.
We previously covered ZachXBT’s claim of a $133 million loss and that the organization was concealing the incident. The new post identifies the unnamed financial institution in the same incident as Crédit Mutuel Arkéa.
Not investment advice.