ZachXBT identified French bank Crédit Mutuel Arkéa as the institution suspected of a theft estimated at more than $133 million, although the bank has not officially confirmed the incident. The on-chain investigator initially estimated the loss at more than $106 million before raising it above $133 million after tracing additional withdrawals. Most of the funds left centralized exchanges as USDC and USDT through Kraken, Crypto.com, and OKX before being converted partly into ETH and Monero. According to ZachXBT, the delay in public disclosure allowed more than $30 million to be laundered. Kraken restricted accounts linked to the fund movements and is cooperating with law enforcement, while the circumstances of the account access remain unknown.
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