Exchanges such as Bitget are working with top Know Your Customer (KYC) verification service Sumsub to strengthen security and safeguard consumers in order to counteract this.

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In a statement, Bitget claimed the cooperation seeks to identify and stop deepfake scams with an above-99% accuracy rate, thereby securing its 25 million customers globally. Bitget will get facial biometrics, non-doc verification, and database validation from Sumsub for identity verification.

With a startling 245% increase across all sectors and a recent 217% increase in deepfakes discovered in the crypto sector from the first quarter of 2023 to the first quarter of 2024, Sumsub’s AI-powered deepfake detection and fraud prevention will help to ensure both companies satisfy high security criteria.

What is Bitget?

Bitget, a 2018-founded Web3 firm and cryptocurrency exchange, is the top one worldwide. Serving over 25 million customers in 100+ countries and regions, the Bitget exchange is dedicated to enabling users to trade smarter using its innovative copy trading tool and other trading alternatives.

Originally called BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet with an array of thorough Web3 solutions and features including wallet capability, swap, NFT Marketplace, DApp browser, and more.

Through partnerships with reputable partners like famed Argentinean footballer Lionel Messi and official eSports events planner PGL, Bitget motivates people to accept cryptocurrencies.

What is Sumsub?

Comprising a full-cycle verification system, Sumsub guarantees the overall user experience. Customizable KYC, KYB, transaction monitoring, and fraud prevention solutions from Sumsub can help you manage your verification process, welcome more clients globally, satisfy regulatory criteria, lower expenses, and safeguard your company.

Among the financial, cryptocurrency, transportation, trade, e-commerce, and gaming sectors, Sumsub has more than 2,000 clients, including Bitpanda, Wirex, Gate.io, Avis, Bybit, Huobi, Kaizen Gaming, and TransferGo.

The post Sumsub and Bitget Combat Crypto Deepfakes appeared first on Coin Engineer.