Protecting 1.7M+ Users along with SEBI Compliance for Marketwolf

MarketWolf Securities Private Limited is a prominent trading platform, catering to 1.7M+ users, offering an engaging and fast trading experience. Being a SEBI-registered trading company, compliance with regulatory directives, particularly regarding cybersecurity, is paramount. Following the SEBI Circular SEBI/HO/ITD_VAPT/P/CIR/2023/033, MarketWolf identified the need to strengthen its cybersecurity infrastructure, particularly focusing on SOC solutions with SIEM and SOAR capabilities, as well as conducting quarterly audits and VAPT assessments. To ensure compliance with SEBI regulations and enhance its cybersecurity posture, MarketWolf partnered with Threatsys, a trusted cybersecurity firm specializing in SOC solutions and compliance services along with cyber security testing services. Through its flagship product CYQER, Threatsys offers comprehensive SOC as a Service, providing MarketWolf with advanced real-time 24×7 threat detection and monitoring, incident response, and regulatory compliance capabilities with FIM, SOAR, UEBA, etc.

MarketWolf faced the challenge of ensuring robust cybersecurity measures to safeguard its users’ data, financial transactions, and overall infrastructure. Compliance with SEBI regulations necessitated a comprehensive approach to cybersecurity, including the implementation of SOC solutions, conducting regular audits and assessments, and ensuring data localization.

The scope of the collaboration between MarketWolf and Threatsys extended beyond mere compliance to proactive cybersecurity measures. It included:

• Cyber Security as a Service (CSaaS): Threatsys delivers CSaaS through CYQER, offering MarketWolf round-the-clock monitoring, threat intelligence analysis, and incident response capabilities. This comprehensive approach enhances MarketWolf’s cybersecurity posture and enables proactive threat management.
• SEBI Compliance Audit: Conduct audits aligned with SEBI regulations, including VAPT assessments, system audits, and data localization audits, to ensure adherence to regulatory requirements.
• Collaborative Partnership:  Threatsys and MarketWolf establish a collaborative partnership aimed at long-term cyber resilience. By sharing expertise, knowledge, and best practices, both parties work together to address emerging cybersecurity threats and stay ahead of regulatory changes.
• SOC as a Service: Providing SOC solutions encompassing SIEM and SOAR capabilities, offering real-time monitoring, threat detection, and incident response services to proactively mitigate cybersecurity risks.
• CERT-in Cybersecurity Audit and ISO 27001 Compliance: Conduct regular CERT-in cybersecurity audits to assess the effectiveness of existing controls, identify potential weaknesses, and implement remediation measures. Conducted ISO 27001:2022 ISMS Compliance and issued the Certification from UAF Accrediation with our certification body.
• DLP Solutions: Implementing DLP solutions to prevent unauthorized data exfiltration, ensuring the confidentiality and integrity of sensitive information.

Securing 1.7M Users of MarketWolf and Protecting MarketWolf with CYQER and our efficent vCISO Services: CYQER’s holistic cybersecurity approach, encompassing SOC solutions, compliance audits, and DLP measures, played a pivotal role in safeguarding MarketWolf’s users and infrastructure. Through proactive threat management, regulatory compliance, and ongoing collaboration, MarketWolf and CYQER demonstrated their commitment to cybersecurity excellence, setting a benchmark for the industry and ensuring a secure trading experience for millions of users.

Mr. Deepak Kumar Nath serves as the virtual Chief Information Security Officer (vCISO) for Marketwolf. His role encompassed developing robust security strategies, conducting risk assessments, ensuring compliance with industry regulations, and protecting digital assets against cyber threats.

The collaboration between MarketWolf Securities Private Limited and Threatsys yielded tangible results:

• Enhanced Cybersecurity Posture with Cyber Security Testing : MarketWolf strengthened its cybersecurity defenses, mitigating risks, and vulnerabilities identified through comprehensive assessments and audits.
• SEBI Compliance with Security Audit and it’s Review : MarketWolf achieved full compliance with SEBI regulations, thanks to CYQER’s expertise in conducting audits, implementing controls, and facilitating regulatory adherence.
• Long-Term Cyber Resilience with SOC Solutions: The strategic partnership between MarketWolf and CYQER laid the foundation for long-term cyber resilience, enabling proactive threat management, continuous improvement, and adaptation to evolving cybersecurity challenges.
• Improved User Trust with Regular Monitoring and Security Updates: By prioritizing cybersecurity and regulatory compliance, MarketWolf reinforced user trust, assuring its 1.7M+ users of a safe, secure, and compliant trading environment.

In conclusion, the collaboration between MarketWolf Securities Private Limited and Threatsys, powered by CYQER and its Cyber Security as a Service, represents a significant milestone in bolstering cybersecurity measures and ensuring SEBI compliance in India. By leveraging Threatsys’ expertise and CYQER’s advanced capabilities, MarketWolf successfully navigated the SEBI CERT-IN Cyber Security Audit process, demonstrating adherence to regulatory standards and commitment to user protection.

The implementation of SOC as a Service provided round-the-clock security monitoring and incident response capabilities, enabling proactive threat detection and mitigation. Additionally, the deployment of DLP solutions further fortified MarketWolf’s defenses, safeguarding sensitive data from unauthorized access and ensuring compliance with SEBI regulations.

Through comprehensive cybersecurity audits, including VAPT assessments and application security evaluations, MarketWolf proactively addressed vulnerabilities and enhanced its resilience against cyber threats. Furthermore, CYQER’s focus on mobile app security ensured the integrity and safety of MarketWolf’s trading platform across various endpoints.

In essence, the partnership between MarketWolf and Threatsys, supported by CYQER, exemplifies a proactive approach to cybersecurity, driving continuous improvement, regulatory compliance, and user trust. As the landscape of cyber threats continues to evolve, MarketWolf remains well-equipped to navigate the dynamic challenges of cybersecurity in the financial industry, safeguarding its operations and protecting the interests of its 1.7M+ users.