**Binance ‘Red Teams’ Its Own Staff Every Month to Keep Hackers Out**
In a bid to fortify its security infrastructure, cryptocurrency exchange Binance has been conducting monthly simulated phishing attacks against its own employees for the past four years. The initiative is part of a rigorous internal program aimed at identifying and mitigating vulnerabilities before they can be exploited by malicious actors. Employees who repeatedly fail these tests face the possibility of termination, emphasizing the company’s unwavering commitment to cybersecurity.
The simulated attacks are carried out by Binance’s *red team*, an internal ethical hacking unit specifically tasked with infiltrating systems to uncover weaknesses. According to Jimmy Su, Binance’s chief security officer, these exercises are vital for assessing and improving the company’s security hygiene. “We do phishing attacks on our own employees on a monthly basis just so we understand if our security hygiene is improving,” Su told Cointelegraph. “The ones that have failed it, we will do remediation training.”
This proactive approach comes at a time when social engineering attacks are increasingly prevalent in the crypto sector. In February, AMLBot reported that 65% of cryptocurrency security incidents in 2025 were driven by social engineering, underscoring the need for constant vigilance and employee training.
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### FAQ Section
**What is a red team?**
A red team is an internal ethical hacking unit that simulates cyberattacks to identify vulnerabilities in an organization’s systems, networks, or employees. Unlike malicious hackers, red teams operate with permission and aim to improve security rather than exploit it.
**Why does Binance conduct monthly phishing tests?**
Binance conducts monthly phishing simulations to assess and enhance its employees’ security awareness. The tests help identify individuals who may be susceptible to phishing attacks and provide opportunities for targeted training.
**What happens to employees who fail the tests?**
Employees who repeatedly fail the phishing tests may face termination. Binance uses these tests to ensure that all staff members adhere to high standards of security hygiene.
**What is social engineering in the context of cybersecurity?**
Social engineering involves manipulating individuals into divulging confidential information or performing actions that compromise security. In the crypto sector, such tactics are frequently employed by attackers to steal assets or gain unauthorized access to systems.
**Does Binance offer remediation training for employees who fail?**
Yes, Binance provides remediation training for employees who fail the phishing tests to help them recognize and respond to future threats more effectively.
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### Conclusion
Binance’s monthly red team exercises reflect a forward-thinking approach to cybersecurity in an industry often targeted by hackers. By proactively identifying vulnerabilities and educating employees, the exchange not only protects its assets but also sets a benchmark for security practices in the cryptocurrency sector. As social engineering attacks continue to rise, such initiatives are essential for maintaining the integrity and trustworthiness of digital asset platforms.
