ZachXBT identifies French bank as alleged victim of $133M crypto theft

On-chain investigator ZachXBT identified French banking group Crédit Mutuel Arkéa as the entity behind a crypto theft exceeding $133 million, according to a November 4 statement reported by Wu Blockchain. The disclosure names a specific institution for a loss that had previously been attributed only to an unidentified organization, giving the incident a concrete counterparty. The case matters because it ties a nine-figure crypto loss directly to a regulated European bank, raising questions about custody and counterparty exposure in institutional crypto holdings. What to watch next is whether Crédit Mutuel Arkéa confirms the figure and the affected assets, and whether the stolen funds are traced or recovered on-chain.