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Binance phishes its own staff monthly, India censors BitChat code: Asia Express
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Binance has been phishing its own staff to get ahead of potential attacks.
Key facts
- On a combined basis, average daily volume fell about 89%, to $305 million from $2.82 billion in the comparable July 2025 period
- Cointelegraph reviewed CoinGecko’s historical 24-hour volume readings for Upbit, Bithumb, Coinone, Korbit and Gopax, comparing seven-day periods in July 2025 and July 2026
- Thailand’s SEC fi led a criminal complaint against Bitkub and two former directors over alleged false disclosures linked to a 2021 cyberattack involving $50 million in assets
- In February, AMLBot estimated that 65% of crypto security incidents in 2025 were driven by social engineering
Summary
Cryptocurrency exchange Binance has been running simulated phishing attacks against its own employees for the past four years and can fire staff who repeatedly fail the tests, according to Binance chief security officer Jimmy Su. The fake attacks are conducted by Binance’s red team, an internal ethical hacking unit whose job is to break into systems to identify vulnerabilities. “We do phishing attacks on our own employees monthly so we understand if our security hygiene is improving,” Su told Cointelegraph. In February, AMLBot estimated that 65% of crypto security incidents in 2025 were driven by social engineering.