Empowering Amber Group to Revolutionize Digital Asset Security with Web3SOC

November 20, 2023
THE CHALLENGE

Optimizing Digital Asset Management and Incident Response

In the fast-evolving realm of digital asset management, Amber Group, a leader in liquidity provision, faced significant challenges in their incident response system. Their existing setup, primarily reliant on Forta bots and Slack notifications, lacked an efficient knowledge base and demanded extensive manual reviews. This system created a high-friction, time-consuming environment, making it difficult to standardize incident response, monitor fund movements, detect abnormal activities, prevent hacks, and report fund movement to the government.

THE IMPACT

A Need for Streamlined Operations and Enhanced Security

The complexity and inefficiency of Amber Group's initial system posed a substantial challenge. The manual and fragmented nature of their incident detection and response resulted in delayed reactions to critical incidents. This not only increased the risk of security breaches but also placed a significant strain on their human resources. The lack of a centralized platform for monitoring and responding to alerts meant that too many analysts were required to handle the risk monitoring channel, leading to potential communication breakdowns and a higher likelihood of human error.

THE RESOLUTION

Harnessing AnChain.AI’s Web3SOC for Superior Efficiency and Security

In response to these challenges, Amber Group implemented AnChain.AI’s Web3SOC solution. This cutting-edge platform revolutionized their incident response system by reducing the total number of analysts required for risk and incident management. It replaced the existing manual processes with a centralized system that brought all alerts into one place, standardizing the response process.

This integration of AnChain.AI's Web3SOC into Amber Group's operational framework led to a significant reduction in incident response time and manual workload. The centralization of alerts and the standardization of the response process enabled Amber Group to secure their ecosystem more effectively.

RESULTS

Enhanced Productivity and Strengthened Security

Post-implementation of AnChain.AI’s Web3SOC, Amber Group reported a notable decrease in the number of analysts managing the incident response workflow, alongside a faster incident response time. This optimization was not just in operations but also in resource allocation, allowing the company to focus more on strategic initiatives.

A representative from Amber Group commented on the transformation, “AnChain.AI’s cutting-edge Web3SOC risk monitoring platform has both strengthened our incident response capabilities and streamlined our workflows, allowing us to more effectively secure the entire Amber ecosystem with less than half the number of analysts.”

This case study exemplifies AnChain.AI’s ability to empower organizations like Amber Group to navigate the complexities of digital asset management with enhanced efficiency and security, setting a new standard in the industry.

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