French bank hit by €100 million cyber attack recovers some funds

Crédit Mutuel Arkéa, a French regional bank, has recovered some of the more than €100 million taken in a cyber attack, according to Daniel Baal, president of the group that oversees Crédit Mutuel. The incident highlights how hackers can exploit access to a bank’s systems to move large sums, even when customers’ accounts are not directly targeted.

The bank said the attackers used its account to make fraudulent transfers to other banks, then converted the money into cryptocurrency. Some funds had been blocked and further recovery efforts were under way, but Baal did not say how much had been retrieved. The bank said customer money was unaffected, and French prosecutors have opened an investigation.