The rise of sophisticated deepfakes poses a significant threat to the cryptocurrency industry, with AI-generated fake identities increasing at an alarming rate. In response, Bitget, a leading crypto exchange, has partnered with Sumsub, a top Know Your Customer (KYC) verification provider, to bolster its security measures and protect its users.
Bitget announced that this collaboration aims to safeguard its 25 million global users by employing Sumsub’s advanced AI-powered deepfake detection and fraud prevention technology. Sumsub will provide comprehensive identity verification services, including facial biometrics, non-document verification, and database validation, ensuring a high standard of security.
This partnership comes in the wake of a dramatic 217% increase in detected deepfakes within the crypto sector from the first quarter of 2023 to the first quarter of 2024, and a 245% rise across all industries. Sumsub’s technology boasts an accuracy rate exceeding 99% in identifying and preventing deepfake scams, which will significantly enhance Bitget’s security infrastructure.
By integrating Sumsub’s cutting-edge solutions, Bitget demonstrates its commitment to maintaining a secure platform amidst the growing challenges posed by deepfake technology in the digital finance world. This proactive approach aims to provide users with greater confidence and protection as they engage with cryptocurrency exchanges.
Summary Review: The partnership between Bitget and Sumsub represents a significant step forward in combating the rising threat of deepfakes in the cryptocurrency industry. By leveraging Sumsub‘s advanced AI-powered deepfake detection and fraud prevention technology, Bitget is enhancing its security measures to protect its 25 million global users. This collaboration not only addresses the current surge in deepfake scams but also sets a high standard for security in the digital finance sector. With over 99% accuracy in identifying and preventing fraud, Bitget is committed to providing a secure and trustworthy platform for its users, reinforcing confidence in the face of evolving technological threats.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
