Binance Implements Monthly Phishing Tests; Repeated Failures May Lead to Dismissal

Binance conducts monthly simulated phishing attacks to assess employee security awareness. The internal red team has been running these drills for three to four years, with significant improvements noted in employee responses. Employees who fail these tests must undergo additional training, and repeated failures can negatively impact performance evaluations. Serious and repeated failures may lead to the lowest possible scores and potential dismissal. Common tactics include posing as recruiters or offering free conference invitations to collect sensitive information. As of July 26, 2026, Binance has 323 million users and holds $137.7 billion in assets under custody. The threat of social engineering attacks is increasing in the cryptocurrency sector, with 65% of incidents in 2025 attributed to such tactics.

Key Points: • Binance runs monthly phishing simulations to improve employee security awareness. • Repeated failures in these tests can lead to lower performance scores and potential dismissal. • The red team employs tactics like impersonating recruiters to test employee responses.