Tag Archives: lawenforcement

Elliptic A Crypto Forensic Startup Raises 23 Million USD

Elliptic, A Crypto Forensic Startup, Raises $23 Million USD


Elliptic, a British startup firm aimed at tracing suspicious crypto activity,

has raised $23 million USD in a funding round led by SBI Holdings.

Elliptic to Expand into Asian Markets

The Series B funding round was led by Japanese financial institution SBI Holdings and will enable Elliptic to continue expansion into Asian markets where it has recently opened an office in Singapore and will open another in Japan this week. Elliptic CEO and founder James Smith cited Asia as a highly attractive market for the company due to its prominent crypto community and the fact that Asian regulators tend to be more technologically advanced than elsewhere in the world.“The Monetary Authority of Singapore and the Japanese Financial Services Agency are very well-versed in crypto. Japan has its own licensing scheme for exchanges; I think all that is really key to the growth of crypto because once you set the ground rules, then businesses can engage and innovate,” Smith told CoinDesk.

SBI to Incorporate Elliptic’s Technology into VC Trade

Elliptic has developed artificial intelligence and machine learning technologies that are capable of tracing and locating suspicious transactions on blockchains. The company was founded in 2013 in London and had previously raised $12 million USD in five funding rounds. SBI was keen to get involved with the company as it has a number of crypto assets under its portfolio, including an exchange called VC Trade, which will incorporate Elliptic’s technology.

Elliptic is also looking beyond expansion into Asia with this investment, as it also has plans to develop a monitoring service for Facebook’s under-fire Libra network. Libra has received heavy criticism and scrutiny from regulators who question how they are meant to trust Facebook given the social media giant’s recent history of data misuse. Elliptic hopes to give somewhat of a helping hand to Libra by providing added transparency and security to the network.

Article Produced By
Caileam Raleigh

Caileam Raleigh is a financial content writer from Dundalk, Ireland who is currently working in Vancouver. Having graduated with a BA in Journalism with French from the Technological University of Dublin in 2019, he is currently a full-time contributor for PotStockNews, MicroSmallCap, CryptoCurrencyNews, and StreetSignals. Caileam cites music and football as his two great passions in life and is a fan of Liverpool FC, his beloved hometown Dundalk FC, and the sounds of Mr David Bowie.


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Security News this Week: Palantir Manual Shows How Law Enforcement Tracks Families

Security News this Week: Palantir Manual Shows How Law Enforcement Tracks Families


On Zoom conference calls across the US this week,

brows furrowed as the news broke that the video conference company had a flaw in its backend that could give hackers access to people’s webcams. Worse, Zoom seemed at first unwilling to fix the problem. Thankfully, hours after the initial reports, Zoom backtracked and issued a fix to solve underlying vulnerability. You can go back to Zooming your brilliant brainstorms in peace, everyone.

According to a new report this week, a Magecart hacking group has been breaking into misconfigured Amazon Web Services buckets, scanning the contents of 17,000 domains, and stealing any goodies—like credit card numbers used on some ecommerce sites. In other Amazon news, are you ready for Amazon Prime Day on Monday? Phishing scammers sure are. In the last few weeks scammers have pushed a whole phishing toolkit targeting Amazon customers. Beware.

Also this week, we explained how to keep your kids’ data safe online and took a closer look at the scourge of credential dumping. We also reported that the window to rein in the risks of facial recognition is closing, so something needs to be done fast. Oh, and we brought you the story of teens taking to TikTok to make fun of the surveillance app that's ruining their summers. But that’s not all. Every Saturday we round up the security and privacy stories that we didn’t break or report on in depth but which we think you should know about nonetheless. Click on the headlines to read them, and stay safe out there.

Secret Palantir User Manual Sheds Light on How ICE and Law Enforcement Track Families

Few Silicon Valley companies are more secretive than surveillance software provider Palantir, cofounded by Peter Thiel. Exactly what the company does, how it makes so much much money, and what it’s working on next is often shrouded in mystery. What is known is that Palantir’s surveillance software has become a backbone of US law enforcement, particularly Immigration and Customs Enforcement, which since 2014 has reportedly had contracts ranging from $41 million to $51 million per year with Palantir for access to the company’s tracking database and management software. Now, through a Freedom of Information Act request,

Vice has gotten its hands on one of Palantir’s secret user manuals for law enforcement. The manual shows that with just the name of a person, law enforcement can use Palantir’s software to map that target's family relationships, get their Social Security number, address, phone number, height, weight, and eye color. Add a license plate number, and Palantir’s system can often allow law enforcement to track where people have been during any period of time. Though much of this kind of information is available to law enforcement via separate means, Vice reports that Palantir’s system “aggregates and synthesizes” it in such a way as to give “law enforcement nearly omniscient knowledge over any suspect they decide to surveil.” As ICE prepares massive raids of immigrant families this weekend, the revealed Palantir system sheds light on how the government tracks and finds people to arrest and deport.

Totally Unnecessary Bluetooth Hair Straightener Is—Shocker!—Easy to Hack

No one has ever actively wanted a hair straightening iron that connects to the internet of things, but that didn’t stop UK-based company Glamoriser from making one. If you happened to buy the company's Blue Smart hair straightener—perhaps not even realizing it had Bluetooth capability, because why would it?—then TechCrunch is sorry to report but hackers could totally seize your device, and well, change the temperature of the hot iron remotely, if they wanted to. Would they want to? Probably not. But then again, why would you ever want to control the temperature of the straightener from your phone, rather than the device itself? Who knows! It’s a mystery!

The Apple Watch Walkie-Talkie App Allowed iPhone Eavesdropping

Apple announced this week that it was disabling the push-to-talk Apple Watch Walkie-Talkie app after the company learned it let people eavesdrop on other people’s phones without permission. The tip came in through Apple’s bug-reporting portal, and Apple says it has no evidence that anyone actually took advantage of the vulnerability. Apple apologized for the bug and promised to “quickly fix the issue,” according to a statement reported by TechCrunch.

Trump’s 4th of July Parade Bankrupted DC’s Special Security Fund

The Washington Post reports that DC's local government paid $1.7 million to secure Donald Trump’s Fourth of July military parade and fireworks display. That amount, DC mayor Muriel E. Bowser said, has left the district’s special security fund empty. That account is intended for security measures for events, rallies, and to protect against terrorism. In 2017, Trump’s inauguration reportedly cost the district $7.3 million in security expenses, which were also drawn from that same fund and never reimbursed. The mayor is requesting the White House refill the District’s security coffers, arguing that it’s unprecedented and unfair for the DC to pay for federal security with local tax money meant to protect residents of the District of Columbia.

Article Produced By
Emily Dreyfuss

Emily Dreyfuss is a senior writer at WIRED, covering technology’s impact on society. She was a 2018 Nieman-Berkman Klein Fellow in Journalism Innovation at Harvard University, and previously worked at CNET as a senior editor. She cut her teeth in newspapers in Connecticut after graduating from Wesleyan University with a bachelor’s degree in English. She lives in San Francisco.


Thomas ClaimCo.in