StageSeries C | Alive
Last Raised$60M | 2 yrs ago
Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+30 points in the past 30 days
Elliptic provides a cryptocurrency surveillance service for law enforcement and companies. It aims to make cryptocurrency transactions accountable. It uses artificial intelligence to explore cryptocurrency networks for suspicious transactions and activity and allows users to detect unusual transactions and track their origin. It was founded in 2013 and is based in London, United Kingdom.
ESPs containing Elliptic
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
Market risk management is a critical aspect of any financial institution's operations, as it helps them identify, measure, and mitigate risks arising from market movements. This is especially important in volatile market conditions, where sudden changes in interest rates, currency exchange rates, and commodity prices can have a significant impact on an institution's financial performance. Effectiv…
Elliptic named as Leader among 7 other companies, including SAS, Eventus, and Qontigo.
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Elliptic's Products & Differentiators
Screen your cryptoasset transactions in real-time to uncover links to money laundering, terrorist financing, and sanctioned entities in order to detect and act on high risk transactions and customers, trace source and destination of funds, and to provide audit trails that can speed up SARs submissions.
Research containing Elliptic
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CB Insights Intelligence Analysts have mentioned Elliptic in 7 CB Insights research briefs, most recently on May 10, 2023.
Expert Collections containing Elliptic
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Elliptic is included in 8 Expert Collections, including Regtech.
Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements in FIs. Regulatory technology helps FIs and regulators address challenges ranging from traditional compliance and risk management to data reporting and transmission.
Companies in this collection build, apply, and analyze blockchain and cryptocurrency technologies for business or consumer use cases. Various industries include financial services, trade finance, supply chain, enterprise tech, consumer and retail, and healthcare.
Game Changers 2018
This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.
Elliptic has filed 54 patents.
The 3 most popular patent topics include:
- Audio engineering
Audio engineering, Audio codecs, Acoustics, Rotating disc computer storage media, Speech codecs
Audio engineering, Audio codecs, Acoustics, Rotating disc computer storage media, Speech codecs
Latest Elliptic News
Jun 7, 2023
Wallets that siphoned Atomic users' funds are connected to the known Lazarus group's addresses, crypto tracing firm said. Updated Jun 6, 2023 at 11:31 p.m. UTC Atomic Wallet users might have fallen victim to Lazarus, the infamous North Korean hacking group, said blockchain intelligence firm Elliptic in a blog post on Tuesday. Early Saturday morning, the team behind Atomic, a non-custodial crypto wallet, announced that some users were compromised and lost the funds from their wallets. According to the company, the number of incidents did not exceed 1% of "monthly active users ." The announcement followed multiple reports on Reddit from users complaining their wallets had been drained. ZachXBT, a pseudonymous blockchain sleuth, estimated that around $35 million in various cryptocurrencies had been stolen, including bitcoin (BTC), ether (ETH), tether (USDT), dogecoin (DOGE), litecoin (LTC), BNB coin (BNB), polygon (MATIC) and Tron-based USDT. The stolen crypto has been funneled to a mixer called Sindbad.io, Elliptic wrote. This mixer, which Elliptic believes is a successor of the previously sanctioned mixer Blender.io, has been often used to launder money from other hacks attributed to Lazarus, and the usage pattern is the same, Elliptic said. The firm also found connections between the wallets containing the loot from Atomic and some of the Lazarus hacks, the blog post reads. What was hacked Last year, security audit company Least Authority warned in a blog post that Atomic Wallet may have been vulnerable to breaches. According to Least Authority, issues included the way Atomic implemented cryptography, that it did not adhere to the best practices for wallet design, a lack of robust project documentation and incorrect use of Electron, a framework for building desktop applications. The firm has since taken down the post. According to Dmytro Budorin, CEO of blockchain security firm Hacken, there are several possible explanations for how the hack happened. One reason could be that Atomic's way to generate recovery phrases (the so-called seed phrases) for wallets did not produce sufficiently random sequences of words, making it easier for hackers to brute-force wallets, Budorin told CoinDesk. Non-custodial wallets like Atomic allow users to keep their crypto autonomously, without trusting a centralized company, which means if users lose a device or password for their wallet they can only recover funds using the seed phrase. However, anyone who has access to the seed phrase can duplicate the wallet and steal the funds. Another hypothesis is that hackers could have mathematically derived the users’ private keys from the transactions data visible on the bitcoin blockchain. This kind of attack was described in a freshly published paper by researcher at the University of California, San Diego. Hacken also detected that the Android version of Atomic “relied on an outdated and vulnerable dependency” when signing transactions, Budorin said. Other possibilities include a supply chain attack on the wallet manufacturer, a hack of Atomic’s website or the intentional or unintentional broadcasting of users’ private keys to Atomic’s centralized server, according to Hacken. According to ZachXBT, over $1 million in funds stolen from a single have been successfully recovered by Jito Labs, a Solana blockchain scaling startup. "This hack is very vocal, highlighting the core problems in crypto wallets. The wallets don't pay enough attention to building a strong architecture with security best practices implemented," Budorin added. Atomic CEO Konstantin Gladych told CoinDesk he couldn’t comment on the possible reason for the hack. The team is now collecting data from affected users and passing it to the blockchain analysis firms like Chainalysis, Crystal and Elliptic, he said, adding that part of the funds landed on exchanges and has been blocked. “The attack was definitely organized by a team of professional hackers. They’re using scripts, splitting of the funds, mixers, etc.,” Gladych said. UPDATE (June 6, 2023, 21:30 UTC): Adds comment from Atomic CEO Konstantin Gladych. Edited by Nikhilesh De. DISCLOSURE
Elliptic Frequently Asked Questions (FAQ)
When was Elliptic founded?
Elliptic was founded in 2013.
Where is Elliptic's headquarters?
Elliptic's headquarters is located at Office 7, London.
What is Elliptic's latest funding round?
Elliptic's latest funding round is Series C.
How much did Elliptic raise?
Elliptic raised a total of $99.13M.
Who are the investors of Elliptic?
Investors of Elliptic include Octopus Ventures, Digital Currency Group, Paladin Capital Group, SBI Group, SignalFire and 11 more.
Who are Elliptic's competitors?
Competitors of Elliptic include Elementus, TRM Labs, Merkle Science, Coinfirm, Solidus Labs and 10 more.
What products does Elliptic offer?
Elliptic's products include Elliptic Navigator and 4 more.
Compare Elliptic to Competitors
Chainalysis provides cryptocurrency investigation and compliance solutions. It transfers value over the internet and methods of data analysis, visualization, and actionable intelligence to protect the integrity of cryptocurrency transactions. It serves government agencies, exchanges, financial institutions, insurance, and cybersecurity companies. It was founded in 2014 and is based in New York, New York.
TRM Labs provides digital asset compliance and risk management solutions. It delivers products including a software platform for on-chain customer due diligence, transaction monitoring, and customer relationship management. The company serves cryptocurrency businesses, financial institutions, and the public sector. It was founded in 2018 and is based in San Francisco, California.
Merkle Science offers predictive transaction monitoring and forensics advanced solutions in blockchain monitoring. The company provides the infrastructure to help blockchain companies, crypto exchanges, investment funds, banks, and regulators perform due diligence on the blockchain. It was founded in 2018 and is based in Manhattan, New York.
Coinfirm provides blockchain analytics and investigations solutions. The company offers its services to banks and governments. It was founded in 2016 and is based in London, United Kingdom.
Crystal Blockchain is a blockchain investigative tool that provides a view of the public blockchain ecosystem and uses analytics and data scraping to map suspicious transactions and related entities. It is based in Amsterdam, Netherlands.
Solidus Labs specializes in the crypto-native triple T (T3) market integrity solutions: trade surveillance, transaction monitoring, and threat intelligence. Its mission is to enable safer crypto trading throughout the investment journey across all centralized and DeFi markets. The company was founded in 2017 and is based in New York, New York.
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