Updated
GL-E-03
Glossary · Due Diligence and compliance
Elliptic - another system banks use to check where crypto came from
Elliptic — a blockchain analytics and crypto risk assessment platform that helps detect links between funds and illicit activity.
01 / In 30 seconds
The short answer
- What it is
- Elliptic — a blockchain analytics and crypto risk assessment platform
- What it does
- Detects links between crypto funds and illegal activity
- Who uses it
- Banks, exchanges, compliance, regulators
- Why
- Assess the risk and cleanness of the cryptocurrency’s origin
- How to use it
- Evidence the transparency of crypto funds in advance
02 / In plain words
What Elliptic means
Elliptic is a blockchain analytics and crypto risk assessment platform, another well-known player in crypto compliance. It analyses blockchain transactions to detect links between funds and illegal or high-risk activity: money laundering, terrorist financing, sanctioned addresses, darknet marketplaces, hacks and fraud.
Like other systems of this kind, Elliptic is used by banks, crypto exchanges, payment services and regulators around the world. The platforms differ in their databases, methodologies and coverage, but the principle is the same: to make the “pseudo-anonymous” blockchain transparent for compliance and show the real picture of the origin and risk of crypto funds.
The practical conclusion for holders of crypto assets is the same as with other tools: cryptocurrency is checked, and checked seriously. Different organisations may use different platforms (Chainalysis, Crystal, Elliptic and others), so what matters is not whether a particular system can be “got round” but real transparency and an evidenced origin of funds. That is exactly what we help prepare — a clean and explainable crypto history.
A case from practice
A client is preparing to evidence their crypto wealth without knowing which platform their bank uses. We explain: what matters is not the particular system but transparency. We prepare a clean history of the origin of funds that will withstand a check by any analytics — and the conversion goes through without questions.
Where the analytics are used
- Assessing the risk of crypto funds
- Due diligence for crypto wealth
- Passing exchange and bank compliance
- Detecting links with illegal activity
- Converting cryptocurrency to fiat
- Evidencing the origin of crypto
03 / What it covers
What matters about Elliptic
What it is
- Blockchain analytics
- Crypto risk assessment
- Transaction analysis
What it detects
- Links with crime
- Sanctioned addresses
- The darknet and hacks
Who uses it
- Banks and exchanges
- Compliance
- Regulators
For the client
- Crypto is checked
- Different platforms
- Transparency matters
04 / How it works
How to prepare crypto funds
Assess the risk of the crypto history
We check the wallets before approaching the bank.
Gather evidence of the source
Exchange statements, trades, income.
Explaining the path of the funds
The funds' path from purchase to withdrawal.
Passing the check
The bank or exchange runs the funds through analytics.
A transparent result
Low risk, origin confirmed.
05 / Key facts
What you need to know
01What it is
Blockchain analytics
The platform links wallets and transactions to laundering, sanctions, the darknet, hacks and fraud.
02Who uses it
Banks, exchanges, regulators
Before accepting crypto, converting it into ordinary money, and in supervision.
03Different platforms
Chainalysis, Crystal, Elliptic
Databases and methods differ, the principle is the same: make the funds' history transparent.
04What matters
Transparency, not workarounds
Getting round one system is pointless: a proven origin of funds is what counts.
Common mistakes
Hoping to get round a particular platform
Prepare a history that will stand up to any analytics.
Not proving where the crypto came from
Gather exchange statements, trades and the source of the first purchases.
Ignoring links to risky addresses
Check wallets in advance and separate risky funds.
06 / Expert advice
How to prepare in advance
Since different organisations use different analytics platforms, the bet is placed not on “getting round” a particular system but on real transparency: the risk of the crypto history is assessed in advance, evidence of the origin gathered and the path of the funds explained. Then any analytics — Elliptic, Chainalysis or another — will show a clean result.
What we do for you. We prepare a client’s crypto wealth for a check by any analytics — Elliptic, Chainalysis, Crystal or another. We place the bet not on “getting round” the system but on real transparency: a clean wallet history and an evidenced origin of funds. That way the cryptocurrency passes compliance whichever tool is used to check it.
Dmitry NagyTax consultant, international taxation and compliance (ex-Big4)
07 / Questions
Frequently asked questions
A blockchain analytics and crypto risk assessment platform: it detects links between crypto funds and illegal or high-risk activity through transaction analysis.
The differences lie in the databases, methodologies and coverage. The principle is the same: to make the blockchain transparent for compliance and show the real risk of funds.
Banks, crypto exchanges, payment services and regulators around the world — when checking the origin and risk of crypto funds.
It is not worth betting on: different organisations use different platforms. What matters is real transparency and an evidenced origin, not whether a system can be got round.
Links between funds and money laundering, terrorist financing, sanctioned addresses, the darknet, hacks and fraud. A clean history passes.
Assess the risk of the crypto history in advance and gather evidence of the origin of funds. We prepare a transparent history that will withstand any analytics.
INITIAL ASSESSMENT
Tell us what outcome your family needs
We will design a solution for your case, choose the country and the right status, and take the whole process through to the result.
