Case Studies Creating a monitoring environment for cryptocurrency (virtual currency) exchanges and significantly strengthening the IT control for security and financial auditing

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	Creating a monitoring environment for cryptocurrency (virtual currency) exchanges and significantly strengthening the IT control for security and financial auditing

Creating a monitoring environment for cryptocurrency (virtual currency) exchanges and significantly strengthening the IT control for security and financial auditing

Technology Category	Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - Data Exchange & Integration Cybersecurity & Privacy - Security Compliance
Applicable Industries	Finance & Insurance Software
Applicable Functions	Business Operation Quality Assurance
Use Cases	Predictive Maintenance
Services	Cloud Planning, Design & Implementation Services System Integration
Challenge	Bitbank operates its cryptocurrency exchange system on AWS. They used an OSS distributed search and analytics engine for log monitoring, but faced issues with accurate error detection and analysis for applications. This raised concerns about IT control for maintaining security and financial auditing. The existing system was lacking in performance and security, and the AWS usage fees were increasing. Additionally, error detection in application logs was inefficient, requiring human intervention to determine details. Read More
About Customer	Bitbank, established in 2014, operates the cryptocurrency exchange 'bitbank.cc'. It handles six different types of virtual currency, including Bitcoin, and is known for offering the industry's smallest spread. The company has achieved top transaction volumes for virtual currencies in Japan and globally for XRP and Monacoin. Bitbank's app has also taken the top spot in the Japanese app store. The company is recognized for its high security standards, as confirmed by third-party research. Bitbank continues to receive support from a large number of users. Read More
Solution	Bitbank adopted Sumo Logic's SaaS-type SIEM solution due to its excellent compatibility with AWS and flexible resource expansion. Sumo Logic allows high-speed and accurate searches even with large amounts of data and automatically structures unstructured data. The solution's compliance with ISMS, SOC2, and PCI DSS certifications ensured the safety of important information. A trial period of one month was conducted, and the solution went into full operation in October 2019. The trial environment was verified using real data, and the production environment was released without major changes. Sumo Logic's intuitive dashboard and fast search capabilities significantly improved log monitoring and error detection. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Application Infrastructure & Middleware - Data Exchange & Integration

Cybersecurity & Privacy - Security Compliance

Applicable Industries

Finance & Insurance

Software

Applicable Functions

Business Operation

Quality Assurance

Use Cases

Predictive Maintenance

Services

Cloud Planning, Design & Implementation Services

System Integration

Challenge

Bitbank operates its cryptocurrency exchange system on AWS. They used an OSS distributed search and analytics engine for log monitoring, but faced issues with accurate error detection and analysis for applications. This raised concerns about IT control for maintaining security and financial auditing. The existing system was lacking in performance and security, and the AWS usage fees were increasing. Additionally, error detection in application logs was inefficient, requiring human intervention to determine details.

About Customer

Bitbank, established in 2014, operates the cryptocurrency exchange 'bitbank.cc'. It handles six different types of virtual currency, including Bitcoin, and is known for offering the industry's smallest spread. The company has achieved top transaction volumes for virtual currencies in Japan and globally for XRP and Monacoin. Bitbank's app has also taken the top spot in the Japanese app store. The company is recognized for its high security standards, as confirmed by third-party research. Bitbank continues to receive support from a large number of users.

Solution

Bitbank adopted Sumo Logic's SaaS-type SIEM solution due to its excellent compatibility with AWS and flexible resource expansion. Sumo Logic allows high-speed and accurate searches even with large amounts of data and automatically structures unstructured data. The solution's compliance with ISMS, SOC2, and PCI DSS certifications ensured the safety of important information. A trial period of one month was conducted, and the solution went into full operation in October 2019. The trial environment was verified using real data, and the production environment was released without major changes. Sumo Logic's intuitive dashboard and fast search capabilities significantly improved log monitoring and error detection.

Impact #1	All logs can be collected in Sumo Logic without prior log collection and transformation on the application side.
Impact #2	Security has been further strengthened, and IT control response to financial auditing has been implemented.
Impact #3	Sumo Logic's authority management function allows the entire company, including Development and Marketing departments, to make high-level use of logs.

Impact #1

All logs can be collected in Sumo Logic without prior log collection and transformation on the application side.

Impact #2

Security has been further strengthened, and IT control response to financial auditing has been implemented.

Impact #3

Sumo Logic's authority management function allows the entire company, including Development and Marketing departments, to make high-level use of logs.

Benefit #1	Reduced AWS usage fees.
Benefit #2	Improved error detection efficiency, reducing the need for human intervention.
Benefit #3	Optimized job execution time, leading to cost savings.

Benefit #1

Reduced AWS usage fees.

Benefit #2

Improved error detection efficiency, reducing the need for human intervention.

Benefit #3

Optimized job execution time, leading to cost savings.

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Overview

Creating a monitoring environment for cryptocurrency (virtual currency) exchanges and significantly strengthening the IT control for security and financial auditing

Operational Impact

Quantitative Benefit