French bank Credit Mutuel Arkea says a cyberattack allowed fraudulent transfers of about 100 million euros; clients did not suffer losses

PARIS: French regional bank Credit Mutuel Arkea said Wednesday it had been the victim of a cyberattack that allowed fraudulent transactions amounting to around 100 million euros ($112 million).

It said in the attack, which had been been “contained”, hackers gained access to Arkea’s account to make transfers to other banks, not the accounts of clients, who did not suffer any losses.

Arkea added that the stolen funds were then converted into cryptocurrencies on specialised platforms, but said a portion had been blocked and other efforts were being taken to recover the funds.