Crypto Exchanges
By Jean-Luc Maracon
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Three to Four Years of Red Team Drills. Su said the red team has been running these exercises for three to four years. Not a pilot program.
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Failure Has Real Consequences. Su was direct about what happens when someone doesn't perform.
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Security Awareness as a Job Requirement. Su's framing is pretty clear: passing these tests isn't optional, and it's not separate from an…
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Binance runs monthly phishing simulations. Fail too many, and you're out.
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The world's largest crypto exchange has quietly built one of the more aggressive internal security programs in the industry, using fake attacks to test whether its own staff can…
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The simulations are built to mirror real attacks. Not generic "click this suspicious link" tests, but actual social engineering playbooks pulled from current threat intelligence.
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Another scenario involves fake conference invitations. Employees get invited to a fictitious event, and the test measures whether they hand over personal information to claim…
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Then there's the Zoom meeting attack. Su called it one of the more sophisticated methods in circulation right now.
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Su was direct about what happens when someone doesn't perform. Poor results in the phishing simulations feed directly into performance evaluations.
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Related: Bitcoin Drops to $64K After $67K Rejection as BitMEX Shuts Down and Hackers Drain $35M
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The logic isn't punitive for its own sake. It's that social engineering has become the dominant attack vector across the crypto industry.
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The incidents back it up. Drift Protocol got hit for $285 million through a social engineering campaign.
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And the thing about social engineering is that no firewall stops it. You can have the best technical infrastructure in the business and still get cleaned out because one employee…
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Su's framing is pretty clear: passing these tests isn't optional, and it's not separate from an employee's core responsibilities. It's baked into how Binance measures performance.
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Read also: Dango Shuts Down Trading and Layer 1 Blockchain Amid 17 Crypto Failures in 2026
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