North Korean hacking groups have been tied to most major crypto exchange attacks in South Korea since 2018, while billions of dollars in suspected illicit crypto flows have also moved through the country’s financial system. Summary Crystal Intelligence linked North Korea’s Lazarus Group to six of nine major South Korean crypto exchange attacks since 2018, with confirmed thefts exceeding $120 million.  South Korean authorities identified $7.1 billion in illegal crypto transactions between 2021 and August 2025, with $6.4 billion tied to the Hwanchigi laundering network. Pig butchering scams targeting South Koreans caused $70.6 million in losses during 2025, while regulators...