Chainalysis Partners with South Korean Police to Combat Crypto Crime
South Korea's national police force will use Chainalysis tools to tackle crypto-related crimes, including state-linked threats from North Korea and retail scams.
Chainalysis has announced a partnership with South Korea's National Police Agency (KNPA) to provide blockchain analytics tools for investigating cryptocurrency-related crimes. The collaboration aims to enhance the police's ability to track illicit transactions on the blockchain.
The partnership will address a wide range of threats, including state-sponsored hacking campaigns attributed to North Korea's Lazarus Group, as well as scams and fraud targeting retail investors. South Korea has seen a surge in crypto crime, prompting law enforcement to seek advanced solutions.
Chainalysis will supply the KNPA with its software and training to trace suspicious transactions and identify wallet addresses linked to criminal activity. Financial terms of the deal were not disclosed.
South Korea has been actively strengthening its regulatory framework for digital assets. Earlier this year, the country passed legislation requiring crypto service providers to register with authorities and implement anti-money laundering measures.