ZachXBT names Crédit Mutuel Arkéa as suspected victim of $133M exploit

The on-chain investigator says delayed disclosure let attackers launder over $30 million before anyone could intervene

Tue 3 Nov 2026 · 21:36 EST · 2 min read

On-chain investigator ZachXBT has named French bank Crédit Mutuel Arkéa as the suspected institution behind a theft now estimated at more than $133 million.

The bank has not confirmed anything. As of November 4, it had issued no official statement about the incident.

How the numbers grew

Blockchain investigator ZachXBT named the institution in a new disclosure, saying the attack spanned multiple days and that the reported losses may understate the total because they do not account for possible over-the-counter activity.

The incident first came to light on Monday, when ZachXBT reported that an unidentified European entity had allegedly lost more than $106 million through withdrawals from centralized exchange accounts on Nov. 1. The suspected attacker moved funds in USDC and USDT, converted them into ETH and routed transactions through instant exchanges such as WellWallet and Kyrrex. Funds were subsequently swapped into Monero through Wagyu and transferred across multiple blockchains using bridges.

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The estimated losses later rose to above $133 million earlier today after ZachXBT identified another $27 million in exchange withdrawals.

Kraken restricted the accounts associated with the incident and said its own systems and customer accounts were not compromised. Crypto.com also took steps to block related funds, while OKX began reviewing the allegations.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.