South Korea, EU Pledge Joint Action Against North Korea’s Crypto Theft

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Amin Ayan

Crypto Journalist

Amin Ayan

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Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...

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Last updated: 

May 20, 2025

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South Korea and the European Union have committed to strengthening cooperation to tackle global cyberthreats, with a particular focus on North Korea’s illicit cryptocurrency operations.

The agreement came during a cybersecurity policy dialogue held Tuesday in Seoul, where officials from both sides addressed the increasing complexity of cyberattacks and the urgent need for joint responses, according to a report by Korea JoongAng Daily.

Leading the talks were Youn Jong-kwon, director-general for international security at South Korea’s Foreign Ministry, and Maciej Stadejek, director for security and defense policy at the European External Action Service.

South Korea, EU Vow Closer Cybersecurity Ties

The two sides “analyzed the growing cyberthreat landscape, identified the types of cyberthreats posed by key actors, including North Korea’s cryptocurrency theft,” and agreed to deepen collaboration, South Korea’s Foreign Ministry said in a statement.

The dialogue covered strategies for improving cybercrime investigations, cross-border intelligence sharing, and coordinated responses to attacks targeting financial infrastructure.

Officials also discussed aligning their positions in multilateral forums such as the United Nations to reinforce global cyber norms.

The EU and South Korea highlighted the need to support developing countries in building cyber defense capabilities and pledged to maintain an open, secure, and resilient cyberspace.

Tuesday’s meeting included representatives from South Korea’s National Intelligence Service, Supreme Prosecutors’ Office, and National Police Agency, along with officials from the European Commission’s cybersecurity division.

With North Korean-backed groups such as Lazarus continuing to target crypto platforms, the issue has gained renewed urgency.

The two parties emphasized that their regular cyberpolicy consultations would serve as a key platform to address not only crypto theft but a broader range of digital threats.

Last week, South Korean police arrested 25 individuals tied to a major crypto scam ring that defrauded at least 48 victims out of ₩734 million ($540,000) by posing as crypto advisors.

The groups operated fake call centers and counterfeit crypto exchanges, showing false profits to lure victims into larger investments.

North Has Stolen $310M in Crypto Since 2019

South Korean lawmaker Ha Tae-keung, a member of the main opposition People Power Party, criticized the current administration’s cybersecurity response.

He claimed that North Korean hackers have stolen an additional $310 million in crypto assets from South Korean wallets since the $2 billion cyber thefts reported by the UN in 2019.

Ha alleged that the Korea Internet & Security Agency (KISA), the country’s main cyber defense body, has also been compromised and called for a complete overhaul.

He proposed turning KISA into a centralized agency under presidential control, aimed at bolstering national defenses against cyber threats.

Security experts note that crypto platforms have improved defenses, but hackers increasingly use social engineering tactics to target individuals.