WTF Summit in Singapore: Uniting the Crypto Industry Against a Global Fraud Epidemic
Sumsub, a prominent global provider of identity verification and fraud prevention solutions, is set to host its first-ever “What The Fraud Summit” (WTF Summit) in Singapore on November 19–20, 2025. This groundbreaking event aims to rally the crypto, fintech, and compliance industries in a unified stand against the growing wave of fraud threatening digital assets worldwide.
With over 500 industry professionals expected to attend, the WTF Summit will serve as a catalyst for bold conversations, practical workshops, and strategic collaboration. The event is laser-focused on tackling issues such as rising fraud schemes, evolving regulatory requirements, AI-driven threats, and the ongoing challenge of building digital trust in a rapidly changing financial landscape.
Asia-Pacific Leads the Charge in Combating Crypto Fraud
According to Sumsub’s latest “State of the Crypto Industry 2025” report, the Asia-Pacific region (APAC) remains at the forefront of global efforts in fraud mitigation. APAC is the only region to have recorded a decline in crypto-related fraud, seeing a 23% drop in fraudulent activity between 2023 and 2024. This success is attributed to a combination of forward-thinking regulations and cutting-edge fraud detection technologies.
Specifically, Singapore and Hong Kong stand out as high-performing jurisdictions, with average fraud rates of just 1.4% and 1.1% respectively—well below the regional average of 2%. These figures contrast sharply with global trends, where crypto fraud has surged by 48%, now affecting 2.2% of all verification attempts.
A Growing Global Threat: The “Fraudemic”
Worldwide, the crypto industry is facing what many call a “fraudemic”—a rapid and widespread escalation in illicit activities. The most common types of fraud include document forgery (31%), phishing attacks (20%), money muling (15%), account takeovers (14%), and forced verification (12%). These tactics not only compromise individual users but also erode public trust in digital finance.
Recognizing the urgency of the situation, the WTF Summit is designed to be more than just a conference—it’s a call to action. By bringing together stakeholders from across the ecosystem, the event seeks to foster actionable collaboration that leads to real-world solutions.
Keynote Speakers and Industry Thought Leaders
The summit boasts a powerhouse lineup of speakers, featuring global leaders and senior executives from major companies such as AWS, Mastercard, Wirex, Travala.com, Matrixport, GrabFin, and Paybis. Attendees can expect to hear from some of the most influential voices in the crypto, compliance, and cybersecurity sectors.
Sessions will include in-depth case studies, expert panels, and fireside chats designed to provide attendees with tangible insights and strategies to implement in their own organizations. Topics will range from regulatory compliance and AI-driven fraud detection to decentralized finance (DeFi) risk management and cross-border collaboration.
Networking and Collaboration Opportunities
Beyond the formal sessions, the WTF Summit promises valuable networking opportunities. Attendees will have the chance to engage directly with regulators, technologists, compliance officers, and entrepreneurs who are shaping the future of digital finance. These interactions aim to spark new partnerships and encourage knowledge-sharing across borders and industries.
Exclusive Tickets and Promotions
Tickets for the WTF Summit are available through the official event platform, with a limited-time Halloween promotion offering a 25% discount until November 4, 2025. Due to the high-profile nature of the summit and limited venue capacity, early registration is strongly encouraged.
About Sumsub: Pioneers in Fraud Prevention and Compliance
Sumsub delivers a full-cycle, no-code compliance platform that supports everything from identity verification to ongoing risk monitoring. Trusted by over 4,000 global clients—including Bitpanda, Bybit, Vodafone, Duolingo, and TransferGo—Sumsub is known for its seamless integration capabilities and robust fraud prevention tools.
The company adheres to international AML standards and regularly collaborates with global institutions such as the United Nations, INTERPOL, and various regulatory bodies to stay ahead of emerging threats.
Why This Matters: The Future of Crypto Depends on Trust
As the crypto sector matures, its long-term success hinges on the ability to establish and maintain digital trust. Fraud not only affects individual users but also deters institutional participation and regulatory acceptance. Events like the WTF Summit play a crucial role in shaping an industry-wide response to these risks.
The Role of Regulation and Standardization
One of the recurring themes at the Summit will be the interplay between innovation and regulation. While the decentralized nature of crypto offers enhanced privacy and autonomy, it also opens the door to exploitation. Effective regulation, when implemented thoughtfully, can serve as a foundation for safer, more resilient crypto ecosystems. Industry leaders at the summit will explore how to strike this delicate balance.
The Importance of Education and Awareness
Another key component in the fight against digital fraud is user education. Many fraud schemes target unsuspecting individuals who lack the knowledge to identify threats. The WTF Summit will highlight initiatives aimed at raising public awareness and providing users with the tools to protect themselves in the digital economy.
Emerging Technologies in Fraud Detection
The summit will also explore how technologies like artificial intelligence, blockchain analytics, and biometric verification are transforming the landscape of fraud prevention. These innovations are not only improving the speed and accuracy of detection but are also enabling more proactive approaches to risk management.
Global Collaboration: A Common Front Against Fraud
Given the borderless nature of crypto transactions, international cooperation is essential. The WTF Summit seeks to establish stronger cross-border networks between regulators, compliance professionals, and tech innovators. This global approach is crucial for identifying and neutralizing fraud schemes that often span multiple jurisdictions.
Looking Ahead
The WTF Summit marks a pivotal moment for the digital asset industry. As fraud continues to evolve, so too must the strategies used to combat it. By fostering collaboration, exchanging best practices, and showcasing the latest technologies, this summit sets the stage for a more secure and trustworthy crypto future.
In a world increasingly reliant on digital interaction and decentralized finance, the fight against fraud is not just an operational concern—it’s a foundational challenge. Through events like WTF Summit, the crypto community is taking a proactive step toward safeguarding its future.