South Korean Police Partner with Chainalysis to Combat Cryptocurrency Crime
Law enforcement authorities in South Korea are working to combat cryptocurrency-related criminal activities ranging from state-sponsored North Korean operations to fraudulent schemes affecting everyday investors.
The blockchain security company Chainalysis is expanding its partnership with law enforcement in South Korea to combat cryptocurrency-related criminal activities, including operations connected to North Korea.
On Wednesday, Chainalysis announced the signing of a memorandum of understanding with the Korean National Police Agency (KNPA), designed to enhance investigative capabilities within the country's law enforcement infrastructure.
According to Chainalysis, a key motivation for this agreement is to more effectively counter cryptocurrency attacks linked to North Korea, with South Korean police positioned "at the forefront" of addressing these challenges. Nevertheless, Ryan Kwon, Chainalysis's country director, emphasized that the agreement is intended to address all forms of threats.
"While North Korean-driven attacks are understandably a national security focus, this partnership isn't designed around a single threat. It's fundamentally about building institutional capability,"
Kwon told Cointelegraph
During April, cryptocurrency theft attributed to North Korea exceeded $578 million, primarily stemming from attacks on Kelp DAO and the Drift Protocol. According to research conducted by CrowdStrike, hackers affiliated with North Korea were accountable for $2 billion in cryptocurrency losses in 2025, representing a 51% increase compared to the previous year.
Through this agreement, the KNPA will receive access to customized training content from Chainalysis, in addition to professional certification programs and hands-on training opportunities.
"To investigate these cases effectively, Korean investigators need global visibility into illicit fund flows,"
Chainalysis said
For several years, Chainalysis has provided assistance to South Korean investigators. Last September, law enforcement in Seoul successfully dismantled an international hacking operation that had stolen around $30 million. While the investigation originated in South Korea, investigators ultimately traced the target to Thailand.
This MoU arrives just weeks following the South Korean police establishment of a specialized multi-agency task force dedicated to combating cryptocurrency-based money laundering, known as the Money Laundering Eradication Task Force, which operates under the leadership of the Economic Crime Investigation Division.