Crypto Security Revolution: How Bybit Enhances Protection with AI Risk Engine

Crypto Security Revolution with AI Technology

Crypto security revolution is taking center stage as Bybit enhances protection with its newly implemented AI Risk Engine. Bybit, recognized as the world's second-largest cryptocurrency exchange based on trading volume, has adopted advanced artificial intelligence (AI) technology to fortify user security. This implementation addresses the growing wave of cybersecurity threats, facilitating a multi-layered defense that protects both hot and cold wallets.

AI-Powered Security Measures

• Enhanced verification methods scrutinizing large or high-risk transactions.
• AI-driven fraud detection that protects against various vulnerabilities.
• Multi-channel verifications and biometric authentication for strong identity protection.

Bybit has successfully processed over 32 million withdrawals in the first half of 2024, managing to prevent more than $79 million in customer asset losses by scrutinizing nearly $1 billion in suspicious transactions. This reflects an expanded commitment to safeguarding cryptocurrency investments amid heightened cybersecurity threats.

Leading Innovations in Crypto Security

As part of its security framework upgrade, Bybit has achieved a perfect trust score of 10/10 from CoinGecko, backed by verification from CertiK. This includes the deployment of a dedicated team of over 50 risk experts who actively monitor for potential threats, ultimately fortifying the overall security posture of the exchange.

Bybit continues to build trust within the Web3 ecosystem, aspiring to establish new industry-wide standards for crypto asset protection. This commitment exemplifies Bybit's leadership role in enhancing user confidence and security in the cryptocurrency space.