Hackers steal $112 million in French bank cyberattack

A French bank has suffered a major cyberattack in which hackers allegedly stole $112 million by targeting the institution’s internal accounts and transferring funds to other banks.

The bank described the incident as a highly sophisticated cyberattack carried out from outside its systems. It clarified that the hackers targeted the bank’s own accounts rather than those of its customers.

According to the bank, approximately $112 million was transferred to accounts held at other financial institutions during the attack. It assured customers that their personal accounts and deposits remained safe and that no customer funds had been affected.

The bank further revealed that the stolen money was converted into cryptocurrency through specialised platforms in an apparent attempt to move and conceal the funds.

However, some of the stolen amount has reportedly been blocked. The bank said efforts were underway to recover the remaining funds and trace the transactions linked to the cyberattack.

The Paris public prosecutor’s office has also launched an investigation into the incident, confirming that authorities are examining the circumstances surrounding the cyberattack.

Meanwhile, a French newspaper estimated the financial losses at approximately $133 million, higher than the amount disclosed by the bank. However, the financial institution has not confirmed that figure.

The incident has raised fresh concerns about cybersecurity risks facing financial institutions, particularly the growing threat of sophisticated attacks targeting banking infrastructure rather than individual customer accounts.