The founder of the encryption research institute, Hazeflow, declared the company closed, leaving the encryption industry for at least a month

On 22 July, Pavel Paramonov, founder of the encryption research company Hazeflow, announced that it would be officially closed today. He indicated that the decision had been taken under duress and that there was some disappointment at the encryption industry. Paramonov mentioned that several researchers and designers in the team were currently looking for new jobs and would welcome contact from the demand side. He himself planned to suspend the encryption-related work for at least a month before considering the next plan。