The United States and South Korea have reportedly entered into a partnership to develop tools aimed at combating North Korea-linked cryptocurrency thefts and tracking billions of dollars in stolen digital assets.

the US and South Korea They are said to be working together to create new mechanisms to prevent crypto-related thefts north koreaSouth Korea's Yonhap News Agency Reports.

The two countries have reportedly signed an agreement to create joint technologies to stop cryptocurrency theft. While the details are still unclear, South Korea's Ministry of Science will also support the initiative until 2026. This cooperation comes as the total amount of cryptocurrencies stolen by North Korean hackers is approaching $1.6 billion this year, according to Chaina. Analysis. I mentioned previously.

The report notes that researchers from both countries, including experts from Korea University and the RAND Corporation, will focus on tracking stolen cryptocurrencies and preventing attacks. They will also investigate how criminals launder stolen funds into cryptocurrencies using methods such as ransomware.

Meanwhile, the United States is taking more steps to address North Korea's cryptocurrency activity. Such as crypto.news I mentioned Earlier, the US Department of the Treasury's Office of Foreign Assets Control imposed sanctions on two individuals and a company in the United Arab Emirates for their involvement in laundering money from cybercrimes in support of North Korea.

The regulator said the two individuals worked through a UAE-based company to convert the stolen funds into cryptocurrencies, which were then sent to North Korea.