Crypto exchange Bybit reported detecting nearly $1 billion in suspicious withdrawal requests during the first half of 2024, with over 8.4% confirmed as fraud attempts. The exchange credits its enhanced security measures, including AI technology, biometric authentication, and behavioral analytics, in preventing over $79 million in client assets from being lost. Bybit's focus on security comes as the exchange faces industry scrutiny and a recent attempt using face-swapping technology to bypass facial verification. Despite the challenges, the exchange executed over 30 million withdrawals and protected more than $37 million in project funds during the same period.



Other News from Today