Bybit is looking to enhance security around its environment for customers with new risk management controls.
The increased “wallet control system 3.0” embraces the entire life cycle of user habits and the wide scope of potential business scenarios.
There are multiple identifiers like geolocation, device ID and user ID at the heart of the system and approach from the firm. It tracks unusual behaviour, confirms the true identity and location of every client, blocks suspicious transactions and detects intruders with pinpoint accuracy.
Gary Hamilton-Walker, Global Head of Corporate affairs at Bybit, commented: “Our intention is always to provide maximum security and transparency for our clients. We always look to provide the industry’s most robust and resilient standards and this addition to our customer and platform security will help us in providing even greater safe, secure, and compliant trading.”
The new system will aid Bybit’s 300-strong risk management and technology management department, with it also covering technical risk, business risk and AML.
The firm outlined that transparency has long been a cornerstone of Bybit’s customer commitment and philosophy. The wallet control system will strengthen the company’s ability to monitor and comply with many local and international KYC, AML, and sanctions regulations.
