Bitget Exchange announced an upgraded partnership with KYC verification provider Sumsub. This collaboration aims to ensure the safety, efficiency, and intelligence of encrypted transactions for global customers through Sumsub’s products, effectively preventing advanced AI-generated identity fraud.
(Bitget Exchange partners with KYC Verification Provider Sumsub to Enhance Security Measures Against AI-Generated Identity Fraud)
Global leading cryptocurrency exchange and Web3 company Bitget announced an upgraded partnership with KYC verification provider Sumsub. This collaboration aims to identify and combat deepfake fraud with over 99% accuracy, safeguarding the security of Bitget’s 25 million global users.
This partnership aligns with Bitget’s mission to promote cryptocurrency development and create a fairer world. Through Sumsub’s products, Bitget aims to ensure safe, efficient, and intelligent encrypted transactions for global customers, comprehensively guarding against advanced AI-generated identity fraud.
According to Sumsub’s latest analysis of verification data, the number of deepfake cases detected in the cryptocurrency field globally increased by 217% from the first quarter of 2023 to the first quarter of 2024. Across all industries, deepfake cases grew by 245% year-on-year. Therefore, Bitget is highly attentive to Sumsub’s upgraded deepfake detection capabilities.
Key features provided by Sumsub to Bitget include identity verification, liveness detection (biometric facial feature checks), non-document verification, and database verification. These features combine AI-driven deepfake detection and fraud prevention technology, along with Sumsub’s comprehensive certification and accreditation, to help both parties comply with the highest security standards.
Bitget CEO Gracy Chen stated, “While new technologies like AI have brought positive impacts to the world, they are increasingly being used for deepfake fraud. Therefore, our verification technology needs to keep up with these advancements. Sumsub is our preferred user verification provider, and we appreciate Sumsub’s outstanding customer service quality and product diversity. As a centralized exchange, user data security is crucial for Bitget, and we are pleased to have a partner like Sumsub to help us identify potential vulnerabilities and ensure the safety of our platform for all users.”
Sumsub Co-Founder and Chief Innovation Officer Jacob Sever expressed, “We are delighted to provide our verification solutions to Bitget, one of the world’s largest cryptocurrency exchanges. Utilizing AI-driven solutions to combat AI-driven threats is a challenge that Web3 companies must face today, and we are pleased to assist Bitget in eliminating deepfake fraud. Our shared vision is to create a blockchain future free of fraud, and we aim to maintain long-term cooperation with Bitget to achieve this vision.”
About Bitget:
Established in 2018, Bitget is a leading cryptocurrency exchange and Web3 company in the world. Currently serving over 25 million users in more than 100 countries globally, Bitget is committed to helping users trade more intelligently through its innovative copy trading feature and other trading solutions.
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