Crédit Mutuel Arkéa Confirms Scale of $133 Million Estimate

Crédit Mutuel Arkéa, a French banking group, said it could confirm only the order of magnitude of a $133 million estimate tied to its cyberattack, leaving the final amount undetermined.

The bank said it was too early to provide a final figure. The amounts involved would not threaten the group’s financial health and strength, it said. Some funds may have been blocked, and recovery efforts were continuing.

The bank said attackers entered its systems through a service provider’s platform, not Fortuneo, its online banking subsidiary. It said they used the bank’s own account to send money to other banks; the funds may have later been converted into cryptocurrency through specialized platforms.

Accounts belonging to customers of the bank’s federations and subsidiaries were not used, and customer assets were unaffected. The incident was contained, and almost all operations had resumed on Nov. 4.

The details follow the bank’s earlier confirmation of the cyberattack.