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    Case Study

    How a crypto giant leveraged Snowbit to monitor their security infrastructure in real-time

    130+

    Cryptocurrencies

    4

    Million+ App Users

    1000+

    Monitored Endpoints

    24/7

    Monitoring

    About the Company

    The customer is India’s largest and safest cryptocurrency exchange. They have launched a crypto-to-crypto exchange, where people have the freedom to legally trade in 30+ pairs in BTC/ETH markets while complying with all laws and regulations. The company has set up hybrid liquidity with a top global exchange to ensure the trades are fast and the technology is in line with global standards. They also have some unique marketing-building features for both pro and new users, like displaying crypto balances in INR to remove mental weight while trading and being an early mover in developing APIs for algorithmic traders. The customer has over 4 million users.

    Challenges Faced by the Customer

    Cryptocurrency is a digital currency based on blockchain technology, which is a secure digital ledger that records crypto transactions. Some of the most frequent cybersecurity concerns associated with cryptocurrency investment are phishing, illegal trading platforms, using third-party software, malware, security of cryptocurrency accounts, user perplexity, etc. The crypto giant was looking for a single platform to centrally coordinate between multiple security solutions, as well as having the capability to provide 24/7 continuous threat detection and Security Information & Event Management (SIEM) across their infrastructure. 

     

    The customer’s expectation from the solution was not only to identify security threats but also to respond quickly and take necessary actions to prevent any impact on their business operations as well as reduce cybersecurity costs.

     

    Lastly, they also faced a challenge in establishing in-house Managed Security Service Provider (MSSP) operations in a short time frame, particularly around having resources with the right skill sets and ability to provide round-the-clock coverage.

    Selecting the Right Platform

    The customer initiated a month-long Proof of Concept (POC) exercise for several MSSPs and SIEM platforms to showcase their capabilities after which they selected Snowbit’s solution.

    Solution Highlights from Snowbit

    1. 24/7 Incident Alerting and Response – The Snowbit Security Resource Center (SRC) complements the Snowbit xDR platform and comprises a team of experienced security analysts, researchers and threat hunting and incident response professionals. Snowbit improved the incident response capabilities with a dedicated team of security analysts who were trained to triage and handle security incidents in real time as well as working in tandem with the customer’s internal security and operations teams.
    2. Monitor and Triage Security Events – By leveraging Snowbit’s platform, the customer was able to aggregate and monitor multiple events originated from multiple components into a single screen monitored by the Snowbit security team, providing professional analysis and triage of security events and potential malicious activities in the customer’s environment.
    3. Managed Detection and Response (MDR) for AWS-based Endpoints – Snowbit SRC introduced a combination of technology and cloud security experts working to continuously detect, investigate, and remove threats from within the customer’s AWS-based environment. Snowbit’s AWS-native security tools and 24/7 monitoring services helped the customer detect and respond to security threats quickly, preventing any impact on their business operations.
    4. AWS Compliance Monitoring – Snowbit added a layer of security for AWS-based environments, helping with meeting the requirements and standards of multiple compliances such as CIS AWS Foundations, PCI DSS, HIPAA, ISO 27001, MITRE ATT&CK, and SOC2. The Snowbit team also assisted the customer with mapping their cloud assets on AWS environment and monitoring potentially vulnerable configuration changes in their environment, to increase overall security posture.

    Conclusion

    By partnering with Snowbit, the crypto giant was able to achieve a comprehensive security solution that provided threat detection, incident response, and compliance management across their entire infrastructure. With 24/7 monitoring and incident response services, Snowbit was able to quickly detect and respond to security threats, preventing any impact on their business operations and endpoints. Snowbit’s expertise in regulatory compliance helped the customer remain compliant with regulations such as PCI DSS, CIS, HIPAA, ISO and SOC2. Overall, Snowbit Security provided a robust and reliable solution that helped the crypto client achieve their security objectives within an affordable budget.