Blockchain analytics firm Chainalysis has signed a memorandum of understanding with the Korean National Police Agency to enhance investigative capabilities against cryptocurrency-related crimes, including those linked to North Korea.
This partnership enhances global efforts to combat sophisticated cryptocurrency crimes, particularly those linked to state-sponsored actors like North Korea, and strengthens the investigative capacity of law enforcement agencies in a key digital asset market.
Blockchain security firm Chainalysis is bolstering its efforts to combat cryptocurrency crime through an enhanced collaboration with South Korea's national police. The two entities signed a memorandum of understanding (MoU) aimed at strengthening the investigative capabilities of the Korean National Police Agency (KNPA).
One of the primary drivers for this agreement is to better counter cryptocurrency attacks linked to North Korea, a threat that South Korean police are reportedly at the forefront of addressing. However, Chainalysis's country director, Ryan Kwon, emphasized that the partnership is not solely focused on North Korean threats but is fundamentally about building institutional capacity to handle all forms of crypto crime.
This collaboration comes at a time when North Korea-linked cyberattacks have seen a significant increase. In April alone, crypto theft attributed to North Korea surpassed $578 million, with notable targets including Kelp DAO and the Drift Protocol. Research indicates that North Korea-affiliated hackers were responsible for approximately $2 billion in crypto losses in 2025, a substantial rise from the previous year.
The MoU will provide the KNPA with access to personalized training content, professional certification programs, and practical investigative training from Chainalysis. The firm stated that effective investigation of these cases requires global visibility into illicit fund flows, a capability Chainalysis aims to facilitate.
Chainalysis has a history of supporting South Korean investigators. In September, Seoul police, with assistance from Chainalysis, dismantled an international hacking organization that had stolen around $30 million, with the investigation tracing the perpetrators to Thailand. The agreement also follows the recent launch of a specialized multi-agency task force by South Korean police dedicated to combating crypto-based money laundering.