CoinLoan Partners with Elliptic to Maximize Crypto Security

Disclaimer: The text below is a press release that was not written by Cryptotelegraph.com.

22 June 2022, Tallinn: CoinLoan, Europe’s first licensed crypto lending platform, has partnered with Elliptic, a pioneer in crypto risk management.

Crypto investments and the adoption of digital currencies are on the rise, and investors are facing increasingly sophisticated fraud and cybercrime threats as hackers devise new and innovative methods of defrauding them. As part of its commitment to providing security, CoinLoan has partnered with Elliptic, the industry’s most trusted blockchain analytics and risk management provider, to ensure that its users can feel confident about their crypto loans and investments.

As an example of how this isn’t an exaggerated issue – there are information stealers known as cryware that steal patterns for private keys, seed phrases, and wallet addresses from noncustodial wallets. Through clipping and switching, an individual’s wallet address can be transformed into that of a malicious party, making it impossible to revert the transaction once funds have been transferred.

Elliptic is the world’s leading provider of blockchain analytics and risk management solutions for digital assets:

• 66% of cryptocurrency trading volume goes through exchanges that use Elliptic for blockchain monitoring, and 98% of all crypto asset trades are monitored.
• More than 100 billion data points are analyzed across 500+ cryptoassets to identify risk factors.
• Businesses can receive alerts from Elliptic’s rich API about funds and addresses associated with various types of fraud.
• Each suspicious transaction is investigated and manually processed.

CoinLoan and Elliptic share a similar vision of being at the forefront of cybersecurity, so their partnership makes perfect sense. Through its partnership with Elliptic, CoinLoan can offer greater protection and security for users’ cryptoassets. CoinLoan is also looking to signal to other platforms that it fully adheres to AML and KYC guidelines, ensuring that all transactions are secure, safe, and efficient.

CoinLoan CEO Alex Faliushin commented on the partnership: “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 clients — the people we are the most committed to — feel secure and supported by CoinLoan.”

“Elliptic and CoinLoan share a commitment to building a safer ecosystem for crypto transactions,” explained Elliptic’s Chief Scientist, Tom Robinson. “By leveraging Elliptic’s solutions, CoinLoan ensures thorough monitoring of the broad range of cryptoasset transactions.”     

This partnership is another chapter in CoinLoan’s history as a proponent of crypto security. CoinLoan’s fraud detection team recently thwarted a huge potential attack on the Trezor wallet that had its roots in a hack at an email newsletter service. CoinLoan’s proactive security measures and partnership with Elliptic demonstrate an ethos of fighting fraud and protecting crypto assets under the constant threat of cyberattacks.

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John Norris / Emma Dodds

Moonlight IQ

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About CoinLoan

CoinLoan is an EU-licensed crypto business that started as a project in 2017. Its platform offers Instant Loans against cryptoassets, Interest Account in crypto, and Crypto Exchange. 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 https://coinloan.io/.

About Elliptic

Elliptic is the global leader in cryptoasset 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 www.elliptic.co and follow us on LinkedIn and Twitter.