When the bank calls about the hack

Big hack stories end the same way: with a phone call. This week a French bank, Crédit Mutuel Arkéa, confirmed it was the victim of the theft we told you about last time. Thieves moved about €100 million (about $112 million) out of the bank's own account and turned it into crypto.

The bank says its customers' money wasn't touched. But its customers are exactly who scammers will call next, pretending to be the bank. That call, and how to end it in ten seconds, is what this issue is about.

The bank behind the theft. On November 4 Arkéa confirmed a cyberattack that allowed fraudulent transfers from its own account, which were then converted into crypto. Its early estimate is about €100 million, or about $112 million. Investigator ZachXBT, who first flagged the theft, puts it above $133 million. The bank says the attackers came in through an outside provider's platform. Our report

France wants a list. On November 3 France's National Assembly voted 150 to 44 to make people report crypto they hold in their own wallets if it's worth €100,000 (about $112,000) or more. Skipping it could cost up to €10,000 (about $11,200). It isn't law yet; the Senate takes up the budget from November 20. What the rule says

Why that list worries people. France has more crypto kidnappings than anywhere else: 77 crypto-linked kidnapping and extortion cases in the first half of 2026, by the count Cointelegraph reported in July. Critics say any list of big holders is a target if it ever leaks. Supporters say the goal is tax fraud, not finding people.

The call that follows a headline. "This is your bank's fraud team. Because of the attack, we need to move your money to a safe account." Every word of that is the scam. A real bank never asks you to move money to protect it, never asks for a code it just texted you, and never minds if you hang up and call back. Use the number on your card, not the one that called you.

The headline is the scammer's script.

Scam of the Week

Scam of the Week: the wrong number text. "Hi, is this Linda?" It looks like a mistake. It isn't. If you reply to say they have the wrong number, a polite stranger keeps chatting, becomes a friend over a few weeks, and then mentions the crypto app that's been working for them. Don't reply at all, not even to correct them. Delete and block. How the first three weeks go

Also this week

A fake Trust Wallet site. Binance co-founder Changpeng Zhao warned this week about a lookalike Trust Wallet site that asks visitors to connect their wallets. Its address swaps one letter. Type wallet addresses yourself, or use a bookmark, and never connect a wallet to a page someone sent you.

Bitcoin funds and the midterms. Crypto dipped while US election results came in, then recovered once the outcome was clear. Our daily page explains each day's move with sources, and no price predictions. Why is crypto down today?

New guides on DMJ

 

 

 

Coming next week: more scam guides and the stories behind this week's headlines, with this Briefing on Sunday, November 15.

Loss figures in this issue are estimates from researchers and news reports unless a company or agency confirmed them. News and education, not financial advice. Tokens and NFTs can lose all their value.

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