Bitget Joins Forces with Sumsub to Upgrade AI-Powered KYC Verification to Fight Rampant Deepfake Crimes

Bitget, a prominent cryptocurrency exchange, and Web3 industry player is excited to announce an enhanced collaboration with Sumsub, a comprehensive KYC verification provider. This partnership is focused on providing Bitget’s 25 million users worldwide with exceptional security and ensuring an accuracy rate of over 99% when detecting and preventing deepfake scams.

This collaboration aligns with Bitget’s mission to promote the growth of cryptocurrency and contribute to a more inclusive society where even those without access to traditional banking can participate in digital finance. Sumsub’s product has enabled Bitget to provide secure, streamlined, and intelligent crypto transactions for its customers worldwide. This ensures they are fully protected against the growing threat of AI-generated identity fraud in the crypto industry.

According to a recent analysis of Sumsub verification data, there has been a significant 217% increase in the number of deepfakes detected globally in the crypto sector from Q1 2023 to Q1 2024. The increase in deepfakes across various industries has been remarkable, with a staggering 245% year-over-year surge. Bitget collaborates with multiple platforms, utilizing cutting-edge technologies to combat ever-changing fraud tactics. Bitget recognizes the significance of Sumsub’s advanced deepfake detection capabilities.

Sumsub offers Bitget a range of essential features, including Identity Verification, Liveness (facial biometrics check), Non-Doc Verification, and Database Validation. With the integration of AI-powered technologies for deepfake detection and fraud prevention, along with a wide range of certifications and attestations obtained by Sumsub, this collaboration will enhance the ability of both companies to maintain the utmost security standards.

“While new technologies like AI bring positive changes to the world, they are increasingly being used for deepfake scams. Therefore, our verification technologies need to keep pace with these advancements. Sumsub is our top provider for user verification, and we appreciate our partnership for the outstanding quality of Sumsub customer services and product variety. As a centralized exchange user data security is of utmost importance and we’re glad to have a partner to assist us in the process and identify possible loopholes, making our platform secure for all users,” says Gracy Chen, CEO at Bitget.

“We are grateful to offer our full-cycle verification solution to Bitget, one of the world’s largest crypto exchanges. Fighting AI-driven threats with AI-powered solutions is a must for web3 companies nowadays, and we’re happy to help Bitget on this path of eliminating deepfake scams. Together we share the vision of a blockchain-based future free of fraud, and we aim to maintain a long-term collaboration with Bitget to make that vision a reality,” comments Jacob Sever, co-founder and Chief Innovation Officer at Sumsub.