AI-Powered KYC Verification with Sumsub

[Techguy]

Bitget, a leading crypto exchange, has rolled out an AI-powered Know Your Customer (KYC) verification system with Sumsub to tackle the growing threat of deepfake identities. Deepfakes—those realistic, AI-generated fake identities—are on the rise, with a 217% increase in detections in the crypto sector over the past year. These fakes can slip past traditional security, leading to serious issues like stolen identities and emptied accounts.

By partnering with a top verification provider, Bitget aims to use advanced AI to spot and stop these sophisticated frauds. This is a significant step towards better security for all users.

Bitget has also been proactive about keeping us informed. Recently, there was a warning about malicious browser extensions like AggrTrade. It’s good to see transparency and a commitment to user safety.

What do you think about the increasing use of AI for security in crypto? Do you feel safer knowing these measures are in place, or do you have concerns about the effectiveness of AI in combating fraud?

[Aurora..]

I think it's a great move by Bitget to use AI for KYC purposes. It's a proactive step towards ensuring user safety and could significantly reduce scamming incidents if other exchanges followed suit. While some may not like the idea, I believe it's a positive development overall. The platform has been making headlines lately, and their efforts to improve the exchange experience are commendable. If more exchanges adopt similar measures, the crypto space would be much safer for everyone.

[AntonietteK]

This is a worldwide space and ai expect insecurities and scanners to exist. What matters is how the exchanges respond to security threats. What they do to ensure user's assets are safe is a key thing. I am glad that Bitget could spot the malicious tool and issue out a warning to users. Being user-centric is the first step to user-satisfaction.