The danger posed by deepfakes extends well beyond the realm of cryptocurrency, as AI technology continues to advance and potentially infiltrate industries such as finance, healthcare, and government.
As per Sumsub’s latest report on global deepfake fraud in Q1, released on May 30, there has been a remarkable 245% year-over-year surge in deepfake scams worldwide. The report specifically points out the increase in deepfakes in countries holding elections in 2024, including the US, India, Indonesia, Mexico, and South Africa.
Furthermore, the report highlights a rise in deepfake scams across a variety of sectors. In the first quarter of 2024, the industries most impacted by deepfakes were crypto, fintech, and iGaming.
In comparison to the previous year, there was a significant uptick in the number of deepfake incidents, with a 1520% increase in iGaming, 900% in marketplaces, 533% in fintech, 217% in crypto, 138% in consulting, and 68% in online media.
The partnership between Bitget and Sumsub will leverage AI-driven deepfake detection and fraud prevention techniques. This collaboration is crucial for both companies to maintain rigorous security standards and safeguard their users from the escalating threat of deepfake scams.
