Blockchain startup Elliptic raises $5 million

Blockchain intelligence firm Elliptic has announced a $5 million Series A funding round led by Paladin Capital Group, with participation from Santander InnoVentures. London and New York-based Elliptic uses graph analysis and machine learning to identify illicit activity in blockchain transactions. Since launching in 2013, Elliptic’s compliance and fraud detection technology has been used by US and European Bitcoin exchanges and payment processors to assess risk on more than $2 billion worth of Bitcoin transactions.