Binance Employs Monthly Phishing Drills to Combat Social Engineering Attacks

Cryptocurrency exchange Binance has implemented a rigorous employee security training program to combat social engineering attacks, which account for 65% of crypto security incidents in 2025.

The company's chief security officer, Jimmy Su, said Binance has been conducting monthly phishing drills as part of its wider effort to reduce security risks. The simulations involve fake recruiters and conference invitations attempting to collect sensitive information from employees.

Staff members who repeatedly fail these tests may face poor performance ratings or even dismissal, with results forming part of employee performance reviews. Su noted that early results showed many workers struggled to identify phishing attempts, but regular testing and follow-up training have led to noticeable improvements in employee security habits.