Binance Implements Strict Phishing Drill Policy for Employees

• •Binance conducts monthly phishing drills to enhance employee security awareness.
• •Repeated failures in drills can lead to remedial training and potential termination.
• •Social engineering attacks accounted for 65% of crypto security incidents in 2025.

Binance, the largest cryptocurrency exchange, has instituted monthly phishing drills for its employees, with potential termination for repeat failures. The drills, conducted by the internal 'Red Team', have been in place for three to four years and aim to improve security awareness. Employees who fail these tests receive remedial training, and repeated failures negatively impact performance evaluations. The simulated attacks mimic real-world social engineering tactics, such as impersonating recruiters and offering free conference invitations. In 2025, social engineering accounted for 65% of cryptocurrency security incidents, highlighting the importance of these drills. Binance currently manages approximately $137.7 billion in assets and serves 323 million users, making its internal security practices critical. The initiative reflects a growing concern over social engineering threats in the cryptocurrency sector.