Elliptic

We are thrilled to announce our partnership with Worldcoin to support their innovative blockchain, World Chain! 🌐 By joining forces with Worldcoin, we are committed to driving forward compliance across the crypto ecosystem. Together, we will pave the way for a safer, more efficient and interconnected future. Stay tuned for more updates and read the full release below. 👉https://hubs.la/Q02HC3lz0

🗣️ Have your say: Help us prevent AI-enabled crime in cryptoassets 🕵️ We’re conducting a short survey to help develop best practices for detecting and disrupting AI-enabled crime in cryptoassets. By participating, you’ll be given early exclusive access to the results, allowing you to make informed decisions to address emerging crime threats. Complete the survey here by Sunday, July 28 ⬇️ https://hubs.la/Q02HBGrS0

🇪🇺 The EU's new MiCA regulation for stablecoin issuers came into effect on June 30, receiving praise from many in the cryptoasset industry as an example of rigorous, but ultimately clear and comprehensive rules that stablecoin issuers can follow to offer their tokens in a safe and sound manner. One component of a MiCA compliance framework that is essential for any issuer to consider is how they can leverage technology solutions to identify, monitor, and mitigate key risks related to their stablecoin. We recently launched Ecosystem Monitoring capabilities as part of the Elliptic toolkit, which could prove critical in the design and implementation of a stablecoin risk management framework. Ecosystem Monitoring leverages our best-in-class blockchain data set to provide a stablecoin issuer with a comprehensive view of both licit and illicit activity occuring within their token ecosystem. Learn more about the new MiCA regulation and how you can achieve compliance with Ecosystem Monitoring in our latest blog ⬇️ https://hubs.la/Q02HdnW40

🚨 Indian cryptocurrency exchange WazirX suffered a major hack earlier this morning in a North Korea-linked breach. Elliptic analysis has been able to confirm the links to North Korea, and identified that around $235 million in cryptoassets were lost in this breach. Follow our latest blog for details of the hack and updates on WazirX's investigation ⬇️ https://hubs.la/Q02H3rp90

Pig butchering scammers have begun to use various tools like AI face-changing software, deepfakes and AI-generated communications. Whilst scammers continue to experiment with AI, there is no suggestion that it is being used en-masse as a solution. More good news - pig butchering red flags are largely detectable by blockchain analytics and AI large language models are getting better at identifying and refusing malicious prompts. That being said, early mitigation is key to ensuring that emerging crime trends do not become mainstream. Read more about how AI is being used in pig butchering scams in our latest blog ⬇️ https://hubs.la/Q02GZ8gr0

Thank you to everyone who joined us for Elliptic Engage in Tokyo! 🇯🇵

We're excited to be partnering with VASPnet, to integrate real-time, high-quality data on the regulatory status of VASPs into our product offering. Read more about the partnership ⬇

In our latest crypto regulatory affairs update, read more about: 🇪🇺 The go-live of MiCA's stablecoin provisions, with Circle the first fully compliant stablecoin issuer to receive approval in Europe 🇸🇬 Paxos receiving full approval to offer its stablecoin in Singapore 🇩🇰 The Danish FSA's clarifications about the potential treatment of DeFi offerings under MiCA 🇪🇺 The European Banking Authority's guidelines on the Travel Rule 🇰🇷 The new industry code of conduct for South Korea's crypto exchanges 🇧🇴 The Bolivian government lifting one of the world's longest standing bans on crypto Find the full update here ➡️ https://hubs.la/Q02G9fZM0

In a new investigation, the Elliptic research team sheds light on online marketplace Huione Guarantee. Established in 2021, the platform has become widely used by scam operators in South East Asia, with merchants offering technology, data and money laundering services, including #pigbutchering scam services and #AI face-changing software. Elliptic’s analysis shows that crypto wallets used by Huione Guarantee and its merchants have received over $11 billion since 2021. Supported by manual analysis of thousands of messages across the platform, the nature of the products and services advertised by merchants and their open willingness to facilitate scams, provides very strong indications that the vast majority of these payments relate to illicit activity. Read more > https://hubs.la/Q02F-tYz0

🚀 We’re excited to announce the launch of Elliptic Ecosystem Monitoring, a first-of-its-kind solution that enables stablecoin and token issuers to screen their ecosystems for financial crime risk in real-time. As the #stablecoin market continues its rapid climb, new regulatory regimes emerge globally, and illicit actors increasingly target stablecoins, it has become more important than ever for issuers to adopt appropriate risk detection and mitigation strategies within their ecosystems. Ecosystem Monitoring helps issuers achieve this by combining: ➣ Holistic screening of all recipient wallets interacting with a stablecoin or token ➣ Real-time alerting the moment high-risk actors attempt to exploit an ecosystem ➣ Configurable risk rules to tune alerting to the most critical risks ➣ Flexible asset analytics to understand current and historical exposure trends Learn more about these new capabilities here: https://hubs.la/Q02FPZDs0