Binance conducts monthly phishing simulations on its employees and may terminate those who repeatedly fail the tests, according to chief security officer Jimmy Su. The internal red‑team unit runs the exercises to evaluate and improve the company’s security hygiene.

Su said the simulations are used to identify vulnerabilities and to determine whether security practices are strengthening over time. The red‑team attacks, which have been carried out for three to four years, sometimes involve impersonating job recruiters to lure staff into providing credentials. Employees receive performance feedback based on their results; repeated failures can lower their ratings and, in severe cases, lead to dismissal.

The practice highlights the growing emphasis on social‑engineering defenses within the crypto industry. AMLBot estimated that 65 % of crypto security incidents in 2025 were driven by social engineering, and a $285 million hack of Drift Protocol in April followed a long‑term campaign. Binance serves 323 million registered users and holds an estimated $137.7 billion in assets, according to DefiLlama.

Su noted that early security hygiene was weak but has improved significantly, and that the simulated attacks are intended to reinforce vigilance among staff.