With the cyberattack on Crédit mutuel Arkéa, European banks are becoming aware of the extent of their vulnerability

Banks believed they were well-prepared against cyberattacks, but the recent breach at Crédit mutuel Arkéa revealed significant vulnerabilities. Hackers stole over 100 million euros by infiltrating the bank's system through a compromised employee's computer. This incident mirrors a previous attack on cryptocurrency platform Binance. The stolen funds, originating from the bank's online service Fortuneo, were converted into cryptocurrencies and distributed across various exchanges, including Kraken, which flagged the unusual transactions.