Blockchain analytics firm Chainalysis signed a memorandum of understanding with South Korea's Korean National Police Agency on June 10 to strengthen cryptocurrency crime investigations. The agreement follows North Korea-linked crypto theft totaling $578 million in April alone, driven by attacks targeting Kelp DAO and the Drift Protocol. South Korea confronts escalating state-sponsored crypto threats that demand cross-border investigative capability and global visibility into illicit fund flows.
KNPA Receives Training and Certification Under MoU
Under the agreement, the KNPA will receive personalized training content from Chainalysis, along with professional certification programs and practical instruction. The firm stated that Korean investigators require global visibility into illicit fund flows to handle cross-border cases effectively. Research from CrowdStrike found that North Korea-affiliated hackers were responsible for $2 billion in crypto losses in 2025, up 51% from the previous year, according to Cointelegraph.
Chainalysis Aided Seoul Police in September 2025 $30M Hacking Case
Chainalysis has aided South Korean investigators for years. In September 2025, Seoul police dismantled an international hacking ring that had stolen approximately $30 million. The investigation began in South Korea and eventually saw investigators track the target to Thailand using blockchain analysis tools, Chainalysis confirmed in a case study.
Ryan Kwon: Partnership Builds Institutional Capability Beyond Single Threat
Ryan Kwon, Chainalysis Country Director for South Korea, told Cointelegraph the partnership extends well beyond any single threat vector. "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 stated. The comment signals that South Korean authorities plan to use the new tools to investigate domestic fraud, money laundering, and retail scams, as well as state-sponsored attacks.
South Korea Launched Money Laundering Task Force in Late May
The Chainalysis MoU is the second major enforcement initiative by South Korean police in recent weeks. In late May, the KNPA launched a multi-agency Money Laundering Eradication Task Force led by its Economic Crime Investigation Division. South Korea ranks among the top five countries globally by crypto trading volume.
Police Raided Bithumb Offices Over Hiring Favoritism Allegations
South Korean police recently raided the offices of crypto exchange Bithumb over allegations of favoritism in hiring lawmakers. The raid was unrelated to the Chainalysis agreement but highlights how actively Korean law enforcement is operating in the digital asset sector.
Money Laundering Task Force Expected to Publish Findings Later in 2026
The Money Laundering Eradication Task Force is expected to publish its initial findings later in 2026. Ongoing DPRK-linked attacks will test whether the new training and analytical tools translate into faster asset recovery and prosecution timelines for South Korean authorities.
FAQ
What did Chainalysis and South Korea's police agency agree to on June 10?
Chainalysis signed a memorandum of understanding with the Korean National Police Agency on June 10 to strengthen cryptocurrency crime investigations. Under the agreement, the KNPA will receive personalized training content, professional certification programs, and practical instruction to build investigative capability against state-level threats and cross-border crypto crime.
How much crypto did North Korea-linked hackers steal in April?
North Korea-linked crypto theft totaled $578 million in April alone, driven by attacks targeting Kelp DAO and the Drift Protocol. Research from CrowdStrike found that North Korea-affiliated hackers were responsible for $2 billion in crypto losses in 2025, up 51% from the previous year, according to Cointelegraph.
When will South Korea's Money Laundering Task Force publish findings?
The Money Laundering Eradication Task Force, launched by the KNPA in late May and led by its Economic Crime Investigation Division, is expected to publish its initial findings later in 2026.
