European banks wake up to scale of vulnerability after cyberattack on French bank

The cyberattack on Crédit Mutuel Arkéa revealed significant vulnerabilities in banking security, with over €100 million stolen. The hackers accessed the bank through a third-party computer, similar to a recent attack on Binance. The stolen funds were converted to cryptocurrencies and distributed across exchanges, including Kraken, which flagged the suspicious transactions. Experts express shock at the scale of the breach, indicating it could instill fear across the banking sector.