Crédit Mutuel Arkéa Loses 100 Million Euros
French banking group Crédit Mutuel Arkéa lost approximately 100 million euros, or about Rp 2 trillion, in a cyberattack that officials suspect involved artificial intelligence, Jagat Review reported.
The security breach began on October 27, 2026, when attackers compromised the system of a third-party service provider. The perpetrators used that access to enter the bank’s internal network, create fake Fortuneo IBANs, and push instant transfers to several European bank accounts.
Unauthorized transactions kicked off on November 1, 2026, with stolen funds moving rapidly through various cryptocurrency platforms to hide the money trail. Attackers converted part of the stolen money into Ethereum to make the assets harder to freeze.
Bank executives discovered the full scale of the theft on November 3 days later. Staff immediately cut external access, halted interbank payment connections, and reset security credentials.
Bank leaders managed to freeze a portion of the funds with help from crypto platforms while recovery efforts continue.
Investigation Into AI Tools
Bank chairman Julien Carmona described the attacking group as highly organized and technically proficient. While the bank suspects artificial intelligence aided the operation, investigators currently have no technical proof confirming how the technology was used.
Carmona suggested AI may have assisted with reconnaissance, code generation, or document forgery. Investigators said that the tactics used—breaching a third-party vendor and laundering money through crypto networks—remain common methods in cybercrime.
Bank officials confirmed that customer accounts were not targeted during the breach. Executives also said that the financial losses do not threaten the banking group’s overall financial stability.
The cybercrime unit at the Paris Prosecutor’s Office opened a formal investigation into the case.
Frequently Asked Questions About the Cyberattack
Which accounts were affected by the breach?
Bank officials confirmed that customer accounts were not targeted or compromised during the cyberattack.
How did the hackers move the stolen funds?
Attackers transferred money to various cryptocurrency platforms, converting a portion of the funds into Ethereum to evade asset freezes.
When did the bank discover the theft?
Bank staff realized the full scale of the multi-million euro theft on November 3, 2026, prompting immediate emergency shutdowns of external network connections.
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