Crypto exchange Bybit, the world’s third most visited crypto exchange, is enhancing its risk management controls as part of the company’s continued efforts to ensure the most secure environment for its customers and increase the resiliency of its platform.

The enhanced “wallet control system 3.0” covers the entire life cycle of user behaviour and all business scenarios. The system uses multiple identifiers like geolocation, device ID and user ID. It tracks abnormal behaviour, confirms the true identity and location of every client, blocks suspicious transactions, and detects intruders with pinpoint accuracy.
 
This cutting-edge security technology will allow Bybit to better identify, deter, defend, report, and act against potential intruders, attempted money laundering, and account theft. A significant step in supporting international efforts to enforce sanctions and transnational crime.
 
The new system will aid Bybit’s 300-strong risk management and technology management department to ensure the continued safety of Bybit’s operations. Bybit also has three security committees that cover technical risk, business risk and anti-money laundering (AML) respectively.