On-chain investigator ZachXBT disclosed on November 4 that the financial institution suspected of suffering a cryptocurrency theft with losses exceeding $133 million is the French banking group Crédit Mutuel Arkéa, which has approximately $250 billion in assets under management. ZachXBT had previously reported that an EU-based entity was suspected of losing over $106 million from multiple CEX accounts on November 1. Reportedly, the attacker withdrew USDC and USDT, subsequently swapped them for ETH and the privacy coin XMR, and transferred the funds across multiple blockchains.