French Bank Recovers Part of €118 Million Stolen in Cyberattack

French regional lender Credit Mutuel Arkea has recovered part of the money stolen in a cyberattack that resulted in losses believed to exceed €100 million, a senior banking official said on Friday.

Daniel Baal, president of the Confederation Nationale du Credit Mutuel (CNCM), which oversees the various divisions of Credit Mutuel, confirmed that some of the missing funds had been retrieved. He did not disclose the amount recovered or explain how the money had been traced.

Speaking to French television channel France 5, Baal said the bank had “already recovered part of (the missing money) today”.

The cyberattack, disclosed on Wednesday, allowed hackers to gain access to the bank’s systems and transfer money into other accounts. Customer deposits were not affected, according to the information released about the incident.

The amount stolen is believed to be around €118 million, French newspaper Le Telegramme reported. The precise financial impact and the circumstances surrounding the transfers remain under investigation.

France’s specialist anti-cybercrime unit is leading the investigation into the incident. Authorities have not publicly identified those responsible or established whether the attack originated in France or abroad.

Baal said financial institutions faced persistent threats from cybercriminals, although most attempted attacks were stopped before causing damage.

“We face cyberattacks every day. (…) Fortunately, the vast majority, almost all of them, are thwarted,” he said.

He added that he could not determine the origin of the operation against Credit Mutuel Arkea, saying: “With this particular attack, I cannot say absolutely whether it is French or foreign.”

The incident comes amid growing concern about cyber threats against European businesses and critical supply chains. Supermarkets in at least nine European countries have also been hit by cyberattacks this week, raising fears about disruption to food distribution.

The European Union has warned that the attacks targeting the retail sector could represent a deliberate effort to interfere with food supplies. The incidents have increased pressure on governments and companies to strengthen their digital security systems.

Russia, which has repeatedly faced accusations of conducting cyber operations against European targets, has denied involvement in the latest attacks.

Investigators have yet to establish whether the Credit Mutuel Arkea breach is connected to the incidents affecting supermarket operators. No link between the cases has been confirmed.

The partial recovery offers some relief to the French lender, but questions remain over the full scale of the losses, the method used to access its systems and the identity of those behind the attack.