Binance Phishes Its Own Staff, India Censors BitChat: Asia Crypto Update
Vexoda Newsroom
Binance conducts regular phishing simulations to enhance security. Meanwhile, India orders the takedown of a decentralized messaging app, while South Korea sees crypto volumes plummet amid stock marke
In an effort to stay ahead of potential cyber threats, Binance has been conducting simulated phishing attacks on its own employees for the past four years. According to Binance’s chief security officer Jimmy Su, these red team exercises are carried out monthly and aim to assess the company's overall security hygiene.
The phishing tests serve a dual purpose: they identify vulnerabilities in systems and provide remediation training for staff who repeatedly fail them. Su emphasized that while some employees might be fired if they consistently fail the test, most receive additional training to improve their cybersecurity practices.
This practice is particularly relevant given recent statistics from AMLBot which showed that 65% of crypto security incidents in 2025 were driven by social engineering attacks. Binance’s proactive approach could potentially reduce such risks and strengthen its defenses against real-world cyber threats.
In a separate development, India has ordered the removal of repositories for BitChat from GitHub on constitutional grounds. The Internet Freedom Foundation (IFF) criticized this action as unconstitutional and warned that it poses a threat to free speech and open-source software.
BitChat is a decentralized messaging app designed to route encrypted messages between nearby devices using Bluetooth without relying on internet connectivity or centralized servers. This feature has made the app popular in regions where internet access can be restricted, such as Madagascar, Nepal, Uganda, Jamaica, and Iran.
The move by India’s government highlights ongoing tensions around free speech, privacy, and technological innovation in the country's regulatory environment for cryptocurrencies and decentralized applications (dApps).
In South Korea, crypto volumes have seen a significant decline with trading activity falling 89% year over year as retail investors increasingly shift their focus to the stock market. The Korea Composite Stock Price Index (KOSPI) more than doubled during this period.
This trend is reflected in data from major exchanges such as Upbit, Bithumb, Coinone, Korbit, and Gopax where combined average daily volume dropped significantly from $2.82 billion to just $305 million between July 2025 and July 2026.
These developments underscore the evolving regulatory landscape in Asia and its impact on crypto markets. Traders should closely monitor these shifts as they could influence market dynamics and investor behavior.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.