Binance runs monthly phishing simulations against employees, the exchange disclosed. North Korean groups BlueNoroff and Lazarus use AI deepfakes to target crypto firms.
Binance runs monthly phishing simulations against its own employees, the exchange disclosed. The drills follow a documented shift in cybercriminal tactics targeting crypto firms.
The company's internal Red Team sends fake recruitment offers and conference invitations that mirror real-world attack techniques. Employees who click the messages must complete extra security training before returning to normal duties. Binance said the program has been running for about four years and that employee security awareness has improved over that period.
Recent investigations by cybersecurity firms linked campaigns against the digital asset industry to North Korean groups BlueNoroff and the broader Lazarus group. Attackers are moving away from exploiting software vulnerabilities and instead target employees directly, the researchers said.
One recent campaign involved fraudulent online meetings. Attackers hijack Telegram accounts belonging to trusted industry contacts before inviting victims to look-alike Zoom or Microsoft Teams meetings, researchers said. During the calls, victims encounter AI-generated deepfake video impersonating a familiar contact. The attacker then instructs them to troubleshoot fabricated microphone or audio problems.
The supposed fixes require users to execute terminal commands and install fake software updates. This gives attackers access to deploy malware capable of stealing credentials and cryptocurrency wallet data.
The operations have focused on founders and engineers at exchanges and DeFi protocols. AI-generated deepfake video has made impersonation attacks more convincing, making verification procedures more important than traditional email security alone, researchers said.
Binance simulations are part of an industry effort to improve internal controls as regulators and customers scrutinize security. The company did not disclose how many employees have failed the simulations or the specific training curriculum.
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