South Korea and EU agree to counter North Korean crypto theft

Pressed by global cyberthreats, not least Pyongyang’s habit of stealing cryptocurrency, South Korea and the European Union plan to boost cooperation in response.

Diplomats from the two sides designated North Korea as a major source of cybersecurity risks deserving their attention and agreed to further advance cyberpolicy consultations.

Seoul and Brussels join forces to repel threats in the cyberspace

Officials from South Korea and the EU have agreed on the need to enhance collaboration in addressing the growing cyberthreats around the world, among which the theft of cryptocurrency by hackers linked to the totalitarian regime in North Korea.

The partners seek to ensure a safe and open cyberspace order, the South Korean Ministry of Foreign Affairs announced in a statement issued after a meeting in Seoul on Tuesday, the Korean Yonhap news agency and leading newspapers reported. In its press release, the department highlighted:

“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 on the need for close cooperation between the two to effectively respond to these threats.”

The talks, focused on cybersecurity policy, were led by Youn Jong-kwon, director-general for international security at the Korean foreign ministry, and Maciej Stadejek, director for security and defense policy at the European External Action Service (EEAS), the EU’s diplomatic service.

They were joined by representatives of the National Intelligence Service, the Supreme Prosecutors’ Office and the National Policy Agency of the Republic of Korea as well as members of the cybersecurity division of the European Commission, the executive body in Brussels.

EU and South Korea to support international cybercrime investigations

The officials discussed what steps must be taken in a rapidly changing cybersecurity environment to advance cooperation on cyber-related matters as part of their bilateral security and defense partnership and on international level as well, within organizations such as the United Nations.

They also recognized the need to strengthen collaboration in international investigations into cybercrimes, which have become more sophisticated with technological advancements. A particular emphasis was placed on swift information-sharing among other initiatives.

The partners also agreed to support the efforts of other countries aimed at improving their cyber capabilities. The goal is to help build “a peaceful, secure and open cyberspace,” the South Korean foreign ministry said and stressed:

“With the cyber issues rapidly evolving into a key shared challenge, South Korea and the EU agreed to further advance their cyber policy consultations as a platform for comprehensive dialogue on cybersecurity and other related fields.”

Partnership deal comes amid increased activity of North Korean hackers

In the past few years, DPRK-affiliated hacking syndicates, such as the Lazarus group, have been particularly active in targeting crypto platforms to steal digital coins allegedly used by Pyongyang to funds its various initiatives, including its nuclear program and its involvement in Russia’s war against Ukraine.

North Korean hackers are believed to have stolen around $1.7 billion worth of digital assets from cryptocurrency exchanges WazirX and Bybit in 2024 and 2025 alone. They have been also becoming more sophisticated, using phishing scams, fake job ads, and malware to infiltrate financial institutions.

Earlier this month, the U.S.-based crypto exchange Kraken revealed that a North Korean hacker tried to get hired by faking a job application and posing as an engineer but was eventually exposed by the company’s security specialists who got suspicious of his background during the recruitment process.

In April, Google unveiled that tech workers linked to North Korea have started to infiltrate blockchain firms outside the United States, following increased scrutiny and government investigations there, targeting companies in the United Kingdom and across member states of the European Union.

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