ZachXBT Says French Bank May Have Lost More Than $133 Million in Crypto

On-chain investigator ZachXBT named French banking group Crédit Mutuel Arkéa as the alleged victim of a crypto theft exceeding $133 million, after identifying additional withdrawals. The alleged activity spanned several days. ZachXBT first flagged more than $106 million in suspicious withdrawals from centralized exchanges Monday, then increased the estimate to more than $133 million Tuesday after identifying another $27 million in withdrawals. Some of the additional withdrawals occurred after his initial warning. Withdrawals from accounts at Kraken, Crypto.com and OKX preceded the conversion of about $63 million in stablecoins into Ether (ETH) within four hours.