Chainalysis partners with Korean police to combat crypto crimes: not only targeting North Korea, but building systemic investigative capabilities

Chainalysis and the Korean National Police Agency sign MoU to establish systematic cryptocurrency crime investigation capabilities, covering multiple threats from North Korean attacks to retail scams.
(Background summary: Chainalysis report: Chinese trading networks dominate crypto money laundering crimes, with over $82 billion in 2025)
(Additional background: South Korea’s wealth dreams: An in-depth analysis of the crypto trading culture behind kimchi premiums!)

Table of Contents

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• North Korea’s crypto losses reach $2 billion in 2026
• Training to real combat: upgrading from tools to capabilities
• The first major collaboration after the establishment of the Anti-Money Laundering Task Force
• Lessons for Taiwan

Leading on-chain analysis firm Chainalysis and the Korean National Police Agency (KNPA) announced on Wednesday the signing of a Memorandum of Understanding (MoU), through which both parties will develop systematic cryptocurrency crime investigation capabilities.

The goal of this agreement is not only to combat North Korea’s crypto attacks but also to cover retail scams, cross-border money laundering, and various virtual asset crimes. Chainalysis Korea representative Ryan Kwon stated:

“North Korea-driven attacks are naturally a focus of national security, but this cooperation is not targeting a single threat; the fundamental purpose is to establish institutionalized investigation capabilities.”

North Korea’s crypto losses reach $2 billion in 2026

According to CrowdStrike’s research, North Korean-related hacking activities caused crypto losses of up to $2 billion in 2025, a 51% increase from the previous year. In April alone, North Korea-related crypto thefts amounted to $578 million, mainly from attacks on Kelp DAO and Drift Protocol.

A report released by Chainalysis in February further indicated that the amount of crypto money laundering in Asia exceeded $82 billion in 2025, with Chinese trading networks being the primary driver.

Training to real combat: upgrading from tools to capabilities

Under this agreement, Korean police will receive exclusive training content, professional certification courses, and practical exercises from Chainalysis. Chainalysis emphasizes that effective case investigations require a global perspective to trace illegal fund flows.

Over the past few years, Chainalysis has assisted Korean investigators multiple times. In September, Seoul police successfully dismantled an international hacking group that stole approximately $30 million, with Chainalysis helping to track the flow of illicit funds within just five days.

The first major collaboration after the establishment of the Anti-Money Laundering Task Force

The timing of this MoU is significant. After Chainalysis’s February report highlighted the scale of money laundering in Asia, Korean authorities established a cross-agency “Money Laundering Eradication Task Force” led by the Economic Crime Investigation Division at the end of May. The MoU was signed within weeks of the task force’s formation, demonstrating Korea’s urgent need for crypto crime investigation capabilities.

Chainalysis Korea representative Ryan Kwon described this agreement as “capability building,” rather than merely deploying tools. The focus is on establishing institutionalized investigation capabilities, not just importing new systems.

Lessons for Taiwan

Taiwan and South Korea are geographically close, and their crypto ecosystems share many similarities. While Taiwanese citizens hold a significant amount of cryptocurrency, law enforcement’s systematic training and cross-border fund tracking capabilities still have room for improvement. The cooperation model between Chainalysis and Korean police—combining tools, training, and practical exercises—provides a valuable blueprint for Taiwanese law enforcement.

As Asia’s crypto market continues to expand, institutionalizing investigation capabilities has shifted from an “additional option” to an “essential investment.”