Blockchain analytics firm Elliptic said it raised $120 million in fresh funding from investors including Nasdaq Ventures and Deutsche Bank as financial institutions ramp up spending on crypto compliance and security infrastructure.

The fundraising round, led by growth equity firm One Peak, values the London-based company at $610 million, according to a Tuesday press release. The British Business Bank also participated.

The investment comes as crypto markets face a wave of security breaches and exploits that have exposed weaknesses in both decentralized finance (DeFi) protocols and centralized platforms. Hackers have stolen nearly $3 billion in crypto assets since the beginning of 2025 through smart contract exploits, phishing attacks and…