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Crypto International AG, or CIAG, is a Swiss manufacturer of cryptographic and communications equipment, and a provider of cyber security services, based in Hünenberg 1 (Switzerland). It is the successor to Crypto AG – the company founded by Boris Hagelin in – since 1 February Crypto International AG Crypto AG is a leader worldwide in information security for public authorities. The solutions from Crypto AG are intended to protect information in modern office environments, radio and satellite communication, and networks. International Cryptocurrency Exchange AG is the most popular cryptocurrency wallet. Simple & Intuitive International Cryptocurrency Exchange AG puts security and anonymity of users first. That’s why we audited our system to ensure complete data integrity. Crypto AG was a manufacturer of cryptographic and communications equipment, based in Steinhausen (Switzerland), with a world-wide customer base and offices in several countries.
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The story of the successor company to the Zug company Crypto AG has come to an end. The Swedish owners filed for bankruptcy on Thursday morning. The reason is a failed recourse application. Crypto International AG, the successor company of the controversial manufacturer of cipher devices that is the focus of the so-called Crypto affair, is definitely throwing in the towel. The Swedish owners, Emma and Andreas Linde, filed for bankruptcy at the Zug Office for Economic Affairs and Labour on Thursday morning.
This also means that redundancies of 83 employees that were previously announced will now take place. According to the NZZ newspaper, a social plan for the employees has been drawn up in the meantime. The Federal Council maintained the provisional export freeze The trigger for this is a failed reconsideration application against the export ban imposed on Crypto International AG by the Federal Council.
Before the summer holidays, the national government had decided not to grant an export permit to the Steinhausen-based company. The Linde couple then submitted an application to the Federal Council to revise this decision. The business was finally dealt with again on Wednesday, 26 August, but with no new outcome: the Federal Council maintained the provisional export ban — and subsequently forced the entrepreneurs to take the steps that had now been taken.
The Zug company Crypto AG, the predecessor company of Crypto International AG, carried out a worldwide espionage operation in which foreign intelligence services were involved. The Swedish owners apparently did not want to wait for the Federal Council decision, however. According to the Commercial Register of the Canton of Zug, Emma and Andreas Linde registered a new company called Asperiq AG there on 4 August – with themselves as members of the board.
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Because the Federal Council is no longer issuing them with export licences, the cyber security company will be dismissing more than 80 employees. It could not convince the authorities that it had nothing to do with the espionage affair. Mass redundancy at Crypto International AG, based in Steinhausen. On Friday morning, 3 July, the workforce was informed that 83 of the 85 workplaces in Switzerland would be cut.
This was reported by the NZZ on Friday afternoon. The Office of Economic Affairs and Labour of the Canton of Zug confirmed the impending mass redundancies on request. The Swedish couple, Andreas and Emma Linde, bought the international part of the former Crypto AG only two years ago. The mass dismissal was „inevitable“, and is the result of the investigation of the so-called Crypto affair, which was set in motion by the „Rundschau“ and other media.
The media were able to show for the first time that the then Crypto AG, a manufacturer of cypher devices, was for a long time owned by the US and German secret services. The headquarters of the cypher equipment manufacturer Crypto in Steinhausen. The part of the company that the Swedish couple had bought was the global part of this former Crypto AG.
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Crypto AG based in Steinhausen, Zug , is dividing its national and international business into two new companies. The international business is being taken over by the Swedish entrepreneur Andreas Linde and will be further developed by his Crypto International Group. This move will strengthen both companies and preserve the majority of jobs in the long term. Crypto AG informed the staff about these changes today.
With the new ownership structure, both companies can focus on their business model, will be strengthened and are able to make targeted investments in future technologies and sales channels. The Swiss and international business will not just be maintained as a result but also enhanced thanks to the expansion of their respective market offerings. By dividing them, the business models will be separated consistently and driven forward individually.
In particular, it will be possible to better serve the different needs of the Swiss and international customers and develop the market offering with a greater focus. The parties have agreed not to disclose the purchase price. The new Crypto International AG, a subsidiary of Crypto International Group AB, Sweden, is taking over all the international customer relations and will develop its offering in the direction of comprehensive cyber security solutions in addition to the existing product portfolio in the high-security encryption systems sector.
The Group will be headed by Anders Platoff, an experienced executive and former fighter pilot and officer in the Swedish Air Forces. The management buyout of Crypto Schweiz AG is led by Robert Schlup, Giuliano Otth and Thomas Meier, CEO of the affiliated InfoGuard AG.
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Swiss government orders inquiry after revelations Crypto AG was owned and operated by US and German intelligence. The Swiss government has ordered an inquiry into a global encryption company based in Zug following revelations it was owned and controlled for decades by US and German intelligence. The mention of five or six countries is probably a reference to the Five Eyes electronic intelligence sharing agreement between the US, UK, Canada, Australia and New Zealand.
The operation, codenamed Thesaurus and then renamed Rubicon in s, demonstrated the overwhelming intelligence value of being able to insert flaws into widely sold communications equipment. At their height, Operations Thesaurus and Rubicon provided the US with a powerful intelligence edge. Iran was also a Crypto customer, allowing CIA and the National Security Agency NSA to spy on the revolutionary government in Tehran during the hostage crisis.
US intelligence was also able to eavesdrop on Libyan officials congratulating each other on the bombing of a Berlin disco. The CIA and BND agreed the purchase of Crypto in but, fearing exposure, the BND sold its share of the company to the US in the early s. It is completely independent of the former Crypto AG. CyOne Security has no ties with any foreign intelligence services. The firm did not respond to follow-up questions over how it could be completely independent of Crypto, having inherited its top staff.
In a later interview, Linde said his company was checking all its products for hidden vulnerabilities. Its founder, Boris Hagelin, was born in Russia but fled to Sweden during the Russian Revolution. He escaped to the US when the Nazis invaded Norway in , and sold his portable encryption machine to US forces.
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Swiss Cybersecurity and encryption firm Crypto International has confirmed it dismissed 70 employees as a result of an export license suspension suspected to be related to concerns about its scandal-embroiled acquisition, Crypto AG. Now, it’s pivoting to telecommunications and consumer electronic goods as it distances itself from Crypto AG. The CIA-operated Crypto AG reportedly worked with the agency and German intelligence, providing confidential services related to its encryption devices which were sold to governments and companies worldwide.
Swiss authorities have launched an investigation into the affair. However, despite its acquisition and status as the firm’s successor company, Crypto International’s website states that the two firms are separate. It is in the process of rebranding to present a new identity to further distance it from Crypto AG. We are a completely different company, founded almost 30 years later.
The couple registered a new company, Asperiq AG, right after the announcement of the job losses. The new company will manufacture telecommunications and consumer electronic goods rather than cybersecurity services. Information regarding the owners or shareholder details hasn’t been disclosed. However, it has formed a board of directors and a management team which consists of four people, according to the report. Still, its current business has been hit hard by the economics ministry’s decision to revoke its export license in February.
Since then, the company has taken the more time consuming route of applying for single export licenses, according to the firm’s site.
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Crypto AG was a Swiss company specialising in communications and information security. It was secretly jointly owned by the American Central Intelligence Agency (CIA) and West German Federal Intelligence Service (BND) from until about , with the CIA continuing as sole owner until about Crypto AG, also known as Hagelin Cryptos, or Hagelin Crypto Company, or CAG, was a Swiss manufacturer of cryptographic equipment, with its headquarters in Steinhausen (Switzerland). The company was founded in 1 by Boris Hagelin, and was the successor to A.B. Cryptoteknik in Stockholm (Sweden).
The Federal Council is currently blocking the exports of the Zug company Crypto International AG. The cybersecurity company is therefore considering making a claim for damages. Crypto International AG announced at the beginning of July that it would lay off more than 80 employees we reported. There is now also the threat of a lawsuit against the Federal Council, which is blocking the company’s exports, according to a report in the Tagesanzeiger newspaper on Thursday.
According to this report, the current owner Andreas Linde replied to the question as to whether his company was seeking an action for damages by saying that this „also depends on the decision of the Federal Council on whether to reconsider its position“. According to the Tagesanzeiger, the announced mass redundancies are „not yet definitive“.
According to the Tagesanzeiger, the Zug company Crypto AG hired the lobbying agency Furrerhugi, along with lawyers, as early as March in order to enforce its interests. This seemed to work at first. On 12 June, Economy Minister Guy Parmelin requested that pending export applications be granted to Crypto International AG and TCG Legacy AG. On 19 June, however, the Federal Council decided that the Federal Prosecutor’s Office should investigate the Crypto case and that all export applications would be suspended until the investigation had been completed.
Manipulated cipher devices have triggered the conflict The dispute began with the so-called „Crypto Affair“. In , it was announced that the former Zug company Crypto AG had sold manipulated encryption devices to several states in previous years.