News
Criminals have moved away from using Bitcoin for money laundering, with stablecoins emerging as an alternative due to accessibility.
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Elliptical News
Elliptic is a British technology company fighting against criminality in the crypto industry by tracking suspicious transactions. Elliptic was founded by James Smith, Tom Robinson and Adam Joyse in the United Kingdom in 2013. Currently, the main offices of Elliptic are headquartered in London, San Francisco and Washington D.C. According to the official website of Elliptic Tracker, they are the first company to provide cryptocurrency risk intelligence. In 2015, Elliptic presented the launch of the first ever cryptocurrency risk intelligence tool. In 2016, Elliptic expanded into the United States and, the same year, launched an investigation service. Since 2017, the company has been working with various financial establishments.
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Crypto risk management firm Elliptic believes ChatGPT will assist in scaling up intelligence and expose risks to crypto users that “they can’t get anywhere else.“
6491 - News
An Elliptic report commissioned by Nikkei says Asian countries account for over 60% of losses to North Korean hackers and ransomware users; lax security played a role.
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Elliptic’s analysis of wallets tied to a suspected Blender operator showed $22 million going to Sinbad as well as similar “characteristics of transactions” between the mixers.
7809 - Analysis
A handful of obfuscation protocols are competing for the user base of OFAC-sanctioned Tornado Cash.
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Forecasts predict cryptocurrency criminals laundering more than $10 billion through cross-chain bridges by 2025, leading to calls for holistic screening solutions.
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The firm reported that although the market downturn had caused the value of NFTs to “slump,” scammers stole an estimated 4,647 of the tokens in July 2022.
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Attackers who hijacked Curve Finance’s landing page moved quickly to convert stolen funds to various tokens through different exchanges, wallets and mixers.
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The blockchain analytics firm have amassed data points on 98% of the market's digital assets.
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“Many BTM operators feel that merely asking for a cell phone number is enough due diligence to absolve them of their mandated KYC requirements,” a Coinsource exec said.
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A new report from Elliptic has found that unregistered securities offerings account for more than half of all crypto-related fines handed out by U.S. regulators.
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Several financial institutions in the U.S. are “are seriously considering launching some type of cryptocurrency service,” an Elliptic co-founder said.
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CEO Michael Ou says Elliptic’s wallet screening tools with CoolBitX’s Sygna Bridge could help firms comply with the FATF travel rule.
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Huobi launches a tool to monitor illicit cryptocurrency transactions.
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Wells Fargo’s investment branch added $5 million to Elliptic’s Series B round, which will help fuel Asian expansion and the development of a compliance solution for banks.
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