June 22, 2022 – Tallinn, Estonia
With the rise of crypto assets and digital currencies, cybercrimes and fraud are becoming more sophisticated as hackers develop new and innovative techniques to defraud investors. CoinLoan has partnered with Elliptic, a leading provider of blockchain analytics and risk management solutions for crypto assets, to offer its users the maximum level of security and peace of mind.
This is not some overblown issue. Cybercriminals have come up with information theft software called cryware that steals patterns from non-custodial wallets to identify private keys, seed phrases and wallet addresses. Clipping and switching can transform a wallet address into that of a bad actorso that it is impossible to reverse the transaction once funds have been transferred.
Here are a few reasons why Elliptic is a world leader when it comes to blockchain analytics and risk management for crypto assets.
- Sixty-six percent of cryptocurrency trading volume is carried out by exchanges that use Elliptic for blockchain monitoring, which accounts for over 98% of all trading.
- The tool offers actionable risk insights into over 500 crypto assets and more than 100 billion data points.
- The API programmatically alerts companies to funds and addresses involved in fraudulent activities.
- The investigation and processing of each suspicious transaction is conducted manually.
Elliptic and CoinLoan share a similar philosophy regarding cybersecurity, so their partnership is a logical one. With the help of Elliptic, CoinLoan can provide crypto owners with greater protection and security for their assets. CoinLoan also signals to other platforms that it follows the strictest AML/KYC policies, ensuring smooth, quick and secure transactions.
About the partnership, Alex Faliushin, CEO of CoinLoan, said,
“We started this company in 2017 with a dream to build the safest crypto lending and exchange platform possible. Playing by the rules from day one has allowed us to offer convenient fiat gateways and give users peace of mind. As we have grown as a company, our commitment to this original goal remains, and bringing Elliptic in as our partner will ensure that our clientsthe people we are the most committed to feel secure and supported by CoinLoan.”
Tom Robinson, co-founder and chief scientist of Elliptic, said,
“Elliptic and CoinLoan share a commitment to building a safer ecosystem for crypto transactions By leveraging Elliptic’s solutions, CoinLoan ensures thorough monitoring of the broad range of crypto asset transactions.”
Among CoinLoan’s recent accomplishments in crypto security, its fraud team halted a potentially significant attack on the Trezor wallet stemming from a hack of an email newsletter service. This development and CoinLoan’s partnership with Elliptic together underscores CoinLoan’s commitment to redefining cybersecurity and fraud prevention standards across the industry.
CoinLoan is an EU-licensed crypto business that started as a project in 2017. Its platform offers instant loans against crypto assets, interest accounts in crypto and crypto exchanges. These services are rendered both to individuals and corporate entities with the exceptions as required by the applicable laws. We provide our clients with the highest security standards and insurance on assets, allowing both corporate and private customers to benefit from the highest levels of protection.
Its highly competitive loan and APY rates, transparent pricing and 24/7 human customer support service have resulted in high customer retention and satisfaction. CoinLoan’s platform allows swapping and managing a comprehensive and growing range of cryptocurrencies, including its native token and fiat currencies.
The company is focused on continuous innovation through state-of-the-art technology and partnerships, bringing customers constant improvements and possibilities within the crypto world.
For more information, please visit us at our website.
Elliptic is the global leader in crypto asset risk management for crypto businesses and financial institutions worldwide. Recognized as a WEF technology pioneer and backed by investors including J.P. Morgan, Wells Fargo Strategic Capital, SBI Group and Santander Innoventures, Elliptic has assessed risk on transactions worth several trillion dollars, uncovering activities related to money laundering, terrorist fundraising, fraud and other financial crimes. Elliptic is headquartered in London with offices in New York, Singapore and Tokyo. To learn more, visit the website and follow us on LinkedIn and Twitter.
John Norris / Emma Dodds, Moonlight IQ