CoinLoan Partners with Elliptic to Maximize Crypto Security

cryptonews.com:

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

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