Liquid.com Bolsters Security for Cryptocurrency Exchange With Sumo Logic
Company Adopts Sumo Logic’s Cloud SIEM to Secure More than One Billion Platform Transactions Per Day and Support Globally Distributed Team and Multi-cloud Technology Stack
Sumo Logic, the leader in continuous intelligence, announced that global cryptocurrency platform, Liquid.com (Liquid), has chosen Sumo Logic Cloud SIEM to provide real-time security intelligence and insights to bolster application security and compliance for its leading platform which processes more than one billion transactions a day. By leveraging Sumo Logic Cloud SIEM, Liquid is able to maintain full visibility of its global cryptocurrency exchange and detect any potential threats, while supporting a globally distributed team and multi-cloud technology stack.
Founded in 2014, Liquid provides trading, exchange and next-generation financial services powered by blockchain technology. With a mission to elevate cryptocurrency as a mainstream form of payment, the platform offers 180 different cryptocurrencies and powers 1.3 billion transactions daily through its platform. As a thoroughly modern organization, Liquid doesn’t operate any on-premise hardware or software. All of its technology is developed and deployed in the cloud through Amazon Web Services (AWS), Google Cloud Platform (GCP) and Heroku.
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“Our platform receives more than a billion visitors each week from our website and mobile app,” said Michael Mullins, chief information security officer, Liquid. “While the vast majority of our traffic is legitimate, a significant percentage comes from cyber groups who are looking for opportunities to breach our platform. We needed to add real-time security intelligence to monitor and analyze our log data as part of our already robust security program to protect our operations and extensive application portfolio and that’s where Sumo Logic comes in.”
After an extensive evaluation, Liquid selected Sumo Logic’s Cloud SIEM solution because of its extensive integration capabilities, easy setup, competitive pricing and outstanding support. Today, various teams across Liquid leverage the continuous intelligence delivered by Sumo Logic to ensure transaction legitimacy and security. With Sumo Logic, Liquid is able to automate its data analytics and log monitoring processes to quickly identify, investigate and remediate fraudulent transactions and potential API vulnerabilities before it can be exploited. With the time and resources saved because of Sumo Logic, Liquid’s security team is now able to be more proactive in identifying potential threats.
“As we continue to operate in a very challenging environment, Sumo Logic provides us with critical information we need to defend our systems, data and customers,” said Mullins. “Cloud SIEM has become an essential part of our business and technology architecture that has enabled us to give our customers confidence as a highly secure regulated exchange.”
Built on Sumo Logic’s Continuous Intelligence Platform, the Cloud SIEM and Cloud SIEM Enterprise solutions address the challenges facing today’s modern security operations center (SOC). Its cloud-native, multi-tenant, elastic scale approach helps break silos which hinder modern security workflows by enabling security, IT and DevOps teams to collaborate with common analytics and workflow.
“The financial services industry is a highly regulated environment and cryptocurrency exchanges are responsible for a substantial amount of sensitive data that needs to be secured,” said Greg Martin, VP and general manager, security business unit, Sumo Logic. “Our work with Liquid illustrates the value of continuous intelligence for scaling modern businesses with ever-expanding digital surfaces, to provide a holistic view of the threat landscape allowing them to quickly mitigate risk so they can continue to accelerate their processes and conduct business effectively.”