Strengthening Cybersecurity for Crypto Asset Management
We’re ensuring the security and compliance of digital financial platforms by fortifying cyber controls, reducing risk exposure, and providing the strategic expertise needed to protect high-value crypto assets. Continue reading ↓
Did You Know?
Caspian One helped a leading crypto asset management firm enhance their security posture by maturing 152 ICS controls, conducting penetration testing, and executing third-party security assessments - ensuring compliance and securing Board approval.
This story exemplifies Caspian One’s expertise in delivering specialised cybersecurity solutions that enhance risk management, ensure compliance, and secure executive approval. By designing a structured framework, conducting rigorous penetration testing, and maturing 152 ICS controls, we provided a crypto asset management firm with the security assurance needed to reduce risk exposure and strengthen governance.
Our ability to deliver outcome-based projects with clear success criteria demonstrates our commitment to future-proofing financial organisations against evolving cyber threats.
The Challenge
As crypto asset management firms expand their digital capabilities, securing industrial control systems (ICS) and ensuring compliance with financial regulations has never been more critical. In early 2023, a client responsible for safeguarding and administering digital assets needed urgent cybersecurity enhancements to align with their risk appetite and gain Board approval.
The scope was significant - 152 ICS controls needed to be matured, penetration testing had to be performed across critical infrastructure, and third-party security assessments (TSPAs) were required to validate the firm’s defensive posture. Additionally, the company needed to ensure that security standards extended seamlessly into its AWS cloud environment, while also implementing knowledge transfer processes to retain internal expertise.
Without these measures, the firm risked operational vulnerabilities, compliance issues, and potential reputational damage - all of which could impact its ability to attract and retain institutional investors.
Our Approach
Leveraging our deep expertise in cybersecurity governance, risk management, and compliance, Caspian One developed an outcome-driven strategy with clear success criteria, milestones, and completion objectives. This ensured that every aspect of the project was executed with precision and accountability.
We mobilised a team of cybersecurity specialists, working in collaboration with internal stakeholders to:
Mature and document 152 ICS controls, ensuring that security processes were properly enabled and transparent for governance reporting
Perform penetration testing, defining scope, briefing testers, facilitating tests, and implementing mitigations to address vulnerabilities
Deliver third-party security assessments (TSPAs), validating security controls and compliance with regulatory standards
Strengthen AWS security architecture, integrating robust security requirements into the firm’s cloud infrastructure
Facilitate knowledge transfer, ensuring that critical cybersecurity expertise remained within the organisation post-project
Each objective was mapped to completion criteria, ensuring that security enhancements were both measurable and fully auditable—providing the client with confidence in their Board-level reporting.
The Outcome
Caspian One successfully matured all 152 ICS controls, completed penetration testing and third-party security assessments, and secured Board approval for the firm’s cybersecurity framework. The enhancements led to:
A significant reduction in risk exposure, strengthening the firm’s ability to defend against cyber threats
Improved compliance with financial regulations, ensuring the firm remained a trusted player in institutional crypto asset management
Seamless integration of security controls across AWS infrastructure, enhancing cloud security without disrupting operations
Retention of security knowledge through structured IP transfer, enabling the client to maintain and further develop its cybersecurity capabilities in-house
What This Meant for the Client:
By delivering a structured, outcome-based cybersecurity program, Caspian One provided the client with more than just immediate security enhancements - we helped them build a resilient, future-proof security framework.
The successful completion of this initiative has strengthened their reputation as a secure, compliant crypto asset management firm, enabling them to attract institutional clients with confidence.
Key Details & Expertise
Keywords: Cyber Security, Industrial Control Systems (ICS), Penetration Testing, Third-Party Security Assessments (TSPAs), Security Controls Maturity, AWS Security, Governance Reporting, Risk Mitigation, IP Knowledge Transfer, Office 365 Configuration Audit
Primary Area of Expertise: Cyber Security
Secondary Areas of Expertise: Penetration Testing, Governance, Risk, and Compliance (GRC), Cloud Security, Technology Risk Management, Security Controls Maturity
Resource Titles: Cyber Security Specialist, Security Engineer
Looking for Similar Expertise?
If your organisation needs specialised cybersecurity resources to enhance risk management, compliance, and operational resilience, Caspian One can deliver. Contact us today to discuss how we can help.
