Hackers Divert €100m From French Bank, Customers’ Funds Safe

A French banking group, Crédit Mutuel Arkéa, has disclosed that about €100 million ($112.61 million) was stolen from its accounts in a cyberattack, raising fresh concerns over the growing vulnerability of financial institutions to sophisticated digital threats.
 
 
The bank said on Thursday that it was still assessing the extent of the loss and could not yet determine how much of the stolen funds it would recover.
 
The attack that occurred this week involved hackers using the bank’s account to carry out fraudulent transactions with other financial institutions. The transfers may have enabled the attackers to convert the funds into cryptocurrency through specialised platforms.
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