Creating a monitoring environment for cryptocurrency (virtual currency) exchanges and significantly strengthening the IT control for security and financial auditing
Company Size
11-200
Region
- Asia
Country
- Japan
Product
- Sumo Logic
- AWS
Tech Stack
- SaaS
- SIEM
- Distributed Search and Analytics Engine
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
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
About The 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.
The 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.
The 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.
Operational Impact
Quantitative Benefit
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