Crédit Mutuel Arkéa, a major French banking group, confirmed it was hit by a "sophisticated" cyberattack after blockchain investigator ZachXBT reported on Monday that attackers had moved more than US$133 million (about A$202 million) out of the firm over several days. In a statement released Wednesday evening, the bank said the attackers compromised an unnamed supplier and used the bank's own account to make transfers to other financial institutions, where funds may have been converted into cryptocurrency via specialised platforms. It disputed French media reports that access came through its online banking subsidiary Fortuneo, stressed that customer accounts were not accessed and said the incident "is now under control", with some converted assets frozen and recovery under way. Arkéa "validated the order of magnitude" of the reported loss without confirming the figure, and said its solvency was never threatened — total assets exceed £237 billion. The bank is working with judicial and police authorities to establish the attack's origin and modus operandi.

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