Incognia and Webull Brazil Combat Promotional Abuse and Remote Access Fraud in Digital Investing

Rhea-AI Summary

Incognia and Webull Brazil (NYSE:BULL) partnered to integrate device and location intelligence into Webull Brazil's onboarding and fraud workflows. Automatic approvals rose from 75.7% to 92.5% and manual verifications fell from 19.2% to 2.5%, while more than 7,650 remote-access devices were flagged.

The integration helped detect promotional abuse, account sharing, emulators, and remote-access threats, enabling targeted marketing changes and reduced compliance burden.

Positive

• Automatic approvals increased from 75.7% to 92.5%
• Manual verification cases cut from 19.2% to 2.5%
• Detected > 7,650 devices running remote-access tools

Negative

• Promotional campaigns attracted measurable fraud and bonus abuse
• Significant manual-review burden prior to integration: 19.2% of cases

Key Figures

Frictionless onboarding rate: 92.5% Auto approvals before: 75.7% Auto approvals after: 92.5% +3 more

6 metrics

Frictionless onboarding rate 92.5% Share of users onboarded without added friction

Auto approvals before 75.7% Automatic account approvals prior to Incognia integration

Auto approvals after 92.5% Automatic account approvals after integrating Incognia

Manual verification before 19.2% Share of accounts requiring manual verification before

Manual verification after 2.5% Share of accounts requiring manual verification after

Devices with remote tools 7,650 devices Devices identified running tools like AnyDesk and TeamViewer

Market Reality Check

Price: $4.74 Vol: Volume 11,323,661 is belo...

normal vol

$4.74 Last Close

Volume Volume 11,323,661 is below 20-day average 13,035,215 (relative volume 0.87x). normal

Technical Price at $4.80 is trading below the 200-day MA at $10.35, reflecting prior sustained weakness.

Peers on Argus

BULL gained 3.67% while peers were mixed: CWAN +0.21%, LYFT +3.99%, LIF +5.64%, ...

BULL gained 3.67% while peers were mixed: CWAN +0.21%, LYFT +3.99%, LIF +5.64%, SOUN +10.27%, CCCS -2.56%. No momentum scanner signals or shared headlines suggest a stock-specific move.

Historical Context

5 past events · Latest: Mar 05 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 05	Fraud surveillance deal	Positive	-5.6%	Partnership with Solidus Labs to enhance digital asset trade surveillance.
Mar 04	Full-year 2025 earnings	Positive	-5.6%	First full-year results as public company showing strong revenue and deposit growth.
Mar 04	Earnings correction note	Positive	-5.6%	Correction highlighting record 2025 revenue and net deposits with improved profitability.
Feb 17	Earnings date notice	Neutral	-2.2%	Announcement of timing and access details for Q4 2025 earnings release and call.
Feb 11	Overnight data product	Positive	-6.0%	Launch of consolidated overnight U.S. equities market data feed for traders.

Pattern Detected

Recent positive platform and financial announcements have repeatedly coincided with negative price reactions, indicating a pattern of divergence between news tone and short-term trading.

Recent Company History

Over the last few months, Webull (BULL) has reported strong operational and financial progress, including record 2025 revenue of $571 million, rising net deposits, and expanding trading features and markets. It also announced partnerships for trade surveillance and overnight data feeds. Despite generally positive fundamentals, each of these updates was followed by single‑day share price declines, highlighting a recurring divergence between upbeat news and near‑term market reaction. Today’s Brazil-focused fraud‑prevention partnership continues that operational enhancement trend.

Market Pulse Summary

This announcement highlights Webull Brazil’s use of Incognia to lift automatic account approvals fro...

Analysis

This announcement highlights Webull Brazil’s use of Incognia to lift automatic account approvals from 75.7% to 92.5% while cutting manual verifications from 19.2% to 2.5%, and flagging over 7,650 risky devices. It adds to a series of recent moves aimed at market integrity and platform expansion. Investors may track how such fraud‑prevention gains influence user growth, profitability, and overall activity levels across Webull’s broader international footprint.

Key Terms

remote access, sdk, device integrity, emulators, +3 more

7 terms

remote access technical

"protected against remote access threats, identifying more than 7,650 devices"

Remote access is the ability for people to connect to a computer, network or system from a different location using the internet or a secure link, like logging into an office computer from home. Investors care because it affects how a business runs and protects data—good remote access supports productivity and business continuity, while weak controls raise the risk of cyberattacks, regulatory penalties and costly operational disruptions, similar to leaving a building unlocked while expecting staff to keep working.

sdk technical

"Incognia's SDK analyzes device integrity signals, detects tampering tools"

An SDK (software development kit) is a bundled set of tools, code samples and instructions that lets outside developers build software that works with a company’s platform or product. Think of it as a toolbox and recipe that makes it faster and easier for others to create compatible apps or services. For investors, an SDK matters because widespread developer use can boost product adoption, create new revenue streams and strengthen customer lock‑in, signaling potential future growth.

device integrity technical

"SDK analyzes device integrity signals, detects tampering tools such as emulators"

Device integrity means a medical or industrial device is functioning exactly as designed, with its hardware, software, sensors and data secure, accurate and unchanged. Investors care because breaches, malfunctions or drift can lead to safety incidents, regulatory fines, recalls and lost sales; like discovering a car’s brakes are unreliable, weak integrity creates costly risk and uncertainty for future revenue and valuation.

emulators technical

"detects tampering tools such as emulators and app cloning"

Emulators are software or hardware tools that mimic another computer, device, or environment so programs and systems run as if they were on the original machine. Investors care because emulators let companies test products, run older software, and demonstrate functionality without buying physical hardware, reducing development costs and speeding time to market—think of them as a flight simulator for software that cuts risk and saves money.

app cloning technical

"detects tampering tools such as emulators and app cloning"

App cloning is the practice of creating a new software product that replicates another app’s look, features, or user experience—often by copying code, design, or core functionality. For investors, it matters because cloned apps can siphon users and revenue, damage a brand’s reputation, and introduce legal or security risks; think of it like counterfeit goods appearing in a store that erode sales and make the original product harder to defend.

account takeover technical

"to prevent "phantom hand" account takeover attacks"

An account takeover occurs when an unauthorized person gains control of a customer or company account—such as banking, trading, email, or user portals—usually by stealing passwords or bypassing security. It matters to investors because these incidents can cause direct financial loss, damage trust and brand value, trigger regulatory fines, and reveal weaknesses in a company’s controls; think of it like someone stealing the key to a mailbox and rifling through bills and instructions.

onboarding technical

"without sacrificing the agility of our onboarding process"

Onboarding is the process a company uses to bring new customers, employees, partners or clients up to speed with its products, services and procedures so they can start getting value quickly. It matters to investors because efficient onboarding speeds revenue growth, reduces churn and lowers support costs—like giving a new neighbor a useful map and keys so they settle in fast—while poor onboarding can stall adoption and raise expenses.

AI-generated analysis. Not financial advice.

Global investment platform sees 92.5% frictionless onboarding to accelerate account approvals and prevent fraud

SAN JOSE, Calif., April 1, 2026 /PRNewswire/ -- Today, Incognia, the leader in cross-device risk intelligence, is helping Webull Brazil scale its digital investment platform securely as the company expands in Latin America. By integrating Incognia's device and location intelligence into its onboarding and fraud prevention workflows, Webull Brazil's automatic account approvals increased from 75.7% to 92.5%, dramatically reducing manual review requirements, while uncovering networks involved in promotional abuse and remote access attacks.

"Incognia's device intelligence was a game-changer in transforming our growth into profitability," said the Webull Brazil team. "It protects the platform against complex abuses without sacrificing the agility of our onboarding process."

Like many fast-growing fintech platforms, Webull Brazil needed to balance rapid user acquisition with strong fraud prevention. Promotional campaigns designed to accelerate growth began attracting fraudulent activity, including bonus abuse, account sharing, and attempts to manipulate onboarding processes. Traditional verification methods introduced friction and manual review bottlenecks, slowing legitimate account approvals.

To address these challenges, Webull Brazil integrated Incognia's device and location intelligence to automate identity and address verification while detecting coordinated fraud at scale. Incognia's SDK analyzes device integrity signals, detects tampering tools such as emulators and app cloning, and validates location behavior in real time—providing persistent risk intelligence without adding friction for legitimate users.

With Incognia, Webull Brazil reduced its compliance workload, cutting manual verification cases from 19.2% to just 2.5%. The partnership also protected against remote access threats, identifying more than 7,650 devices running tools like AnyDesk and TeamViewer to prevent "phantom hand" account takeover attacks. Leveraging Incognia's location intelligence, Webull Brazil pinpointed geographic clusters of high-risk activity, enabling the company to refine its marketing strategy, discontinue campaigns that attracted abusive behaviors, and focus growth on higher-quality, long-term users.

"Fintech platforms must deliver both speed and security to earn customer trust," said André Ferraz, CEO and Co-Founder of Incognia. "By combining device intelligence, location validation, and behavioral risk signals, we help platforms like Webull Brazil scale rapidly while protecting users and preventing organized fraud from undermining growth."

The partnership highlights the increasing importance of mobile-native risk intelligence in financial services, where attackers often rely on device manipulation, remote access tools, and coordinated account networks to exploit promotions or attempt account takeover. By identifying these threats early, Incognia enables platforms to protect revenue while maintaining a frictionless experience for legitimate users.

For more information about Incognia's innovative approach to fraud prevention, visit Incognia.com.

About Webull Brazil

Webull Technologies Brazil Ltda. is a technology company that provides financial operational support services through the Webull Platform. In the United States, brokerage services are offered by Webull Financial LLC, a member of SIPC and FINRA, with self-directed trading of securities, including stocks and options. The company also offers futures trading as a Futures Commission Merchant registered with the CFTC and member of the NFA. International investments are intermediated by H.H Picchioni, and crypto asset trading is made available in partnership with Coinbase through Webull SPSAV. Webull offers the Cash Management Product, an optional feature within the investment account that allows clients to earn interest on uninvested cash balances through an FDIC-insured cash management solution. Important Notices: Webull is not a bank. Trading options, futures, and crypto assets involves significant risks and is not suitable for all investors, and may result in losses of 100% or more of the investment. Funds in the Bank Sweep Program are FDIC insured up to $5,250,000, limited to $250,000 per Participating Bank. The Cash Management Product is not available for all accounts. Webull SPSAV is in a regulatory transition period in Brazil. Fees are subject to change. For more information, visit: www.webull.com.br.

About Webull Corp

Webull Corporation (NASDAQ: BULL) owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure. Through its global network of licensed brokerages, Webull offers investment services in 14 markets across North America, Asia Pacific, Europe, and Latin America. Webull serves more than 26 million registered users globally, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures, fractional shares, and digital assets through Webull's trading platform, which seamlessly integrates market data and information, its user community, and investor education resources. Learn more at https://www.webullcorp.com/.

About Incognia
Incognia provides cross-device risk intelligence for companies that rely on trusted digital interactions. Its technology blends location behavior, device integrity, and behavioral analysis to create a risk signal that cannot be faked at scale and shows whether a user is trusted or risky. With real-time assessments and actionable data, Incognia helps organizations stop repeat and large-scale fraud while reducing friction for legitimate users.

View original content to download multimedia:https://www.prnewswire.com/news-releases/incognia-and-webull-brazil-combat-promotional-abuse-and-remote-access-fraud-in-digital-investing-302730658.html

SOURCE Incognia

FAQ

How did Incognia help Webull Brazil (BULL) improve onboarding on April 1, 2026?

Incognia boosted automatic approvals to 92.5% by adding device and location checks to onboarding. According to the company, the SDK validated device integrity, detected tampering tools, and reduced manual reviews from 19.2% to 2.5%, speeding approvals while mitigating fraud.

What fraud types did Incognia detect for Webull Brazil (BULL) in the April 2026 announcement?

Incognia identified promotional abuse, account sharing, emulator tampering, and remote access attacks. According to the company, the system uncovered coordinated networks and flagged over 7,650 devices running tools like AnyDesk and TeamViewer to stop phantom hand takeovers.

What measurable compliance benefits did Webull Brazil (BULL) report after the Incognia integration?

Webull Brazil reduced manual verification workload from 19.2% to 2.5% after integration. According to the company, automated identity and address checks plus persistent risk signals cut compliance cases and lowered operational review costs.

How did the partnership affect Webull Brazil's (BULL) marketing strategy and growth quality?

The partnership enabled pinpointing high-risk geographic clusters and stopping abusive campaigns. According to the company, location intelligence informed marketing adjustments, allowing focus on higher-quality users and discontinuation of campaigns attracting fraud.

How many devices with remote-access tools did Incognia identify for Webull Brazil (BULL)?

Incognia identified more than 7,650 devices running remote-access tools affecting Webull Brazil. According to the company, flagging these devices prevented phantom hand account takeover attacks and reduced organized remote-access fraud risk.

Will Incognia's solution add friction to legitimate Webull Brazil (BULL) users during onboarding?

No; the solution aims to preserve a frictionless experience while enforcing risk checks. According to the company, device integrity and location validation run in real time to provide persistent risk intelligence without slowing legitimate account approvals.