Binance ‘red teams’ its own staff every month to keep hackers out
Cryptocurrency exchange Binance has been running simulated phishing attacks against its own employees for the past four years and can fire staff who repeatedly fail the tests, according to Binance chief security officer Jimmy Su.
The fake attacks are conducted by Binance’s red team, an internal ethical hacking unit whose job is to break into systems to identify vulnerabilities.
“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.”
In February, AMLBot estimated that 65% of crypto security incidents in 2025 were driven by social engineering.
India’s BitChat GitHub takedown order ‘unconstitutional’
India’s Internet Freedom Foundation (IFF) has condemned a government order directing GitHub to remove repositories for Jack Dorsey’s decentralized messaging app BitChat, calling the move unconstitutional and warning it threatens free speech and open-source software.
The statement came a day after India’s cybercrime agency ordered GitHub to disable access to three BitChat repositories within three hours, saying the decentralized messaging app could be used to bypass internet shutdowns, evade lawful surveillance and facilitate unlawful activities.
BitChat is a decentralized messaging app that routes encrypted messages between nearby devices over Bluetooth without relying on internet connectivity or centralized servers.
Since its release in July 2025, the app has gained traction during periods of unrest and internet outages in countries including Madagascar, Nepal, Uganda, Jamaica and Iran.
More crypto news from India:
— India’s Central Board of Direct Taxes (CBDT) has issued guidance directing crypto exchanges to report all transactions on their platforms to the Income Tax department.
Balaji’s Network School turns to Kazakhstan amid Malaysian setback
Balaji Srinivasan’s utopian Network School looks set to move to Kazakhstan after Malaysian authorities revoked its business license over alleged premises-use violations.
A memorandum of understanding was signed between Kazakhstan’s Minister of Digital Development and Srinivasan to establish a campus in the country which has been positioning itself as an emerging technology hub, and has plans for Central Asia’s first “crypto city” in Alatau.
The Network School had been at the centre of a scandal involving hosting Israeli citizens given the Muslim majority country has no diplomatic relations with Israel. The US State Department called in the Malaysian envoy to ask for an explanation about the country’s apparent policy of deporting dual citizens with Israeli passports.
Source: The Times of Israel/Reuters
South Korea crypto volumes shrink as retail investors shift to stocks
South Korea’s five major crypto exchanges have seen their trading activity fall by 89% year over year as the country’s stock market surged.
The Korea Composite Stock Price Index (KOSPI) benchmark more than doubled over the period, while volumes across the country’s largest won-based crypto platforms fell off a cliff.
Cointelegraph reviewed CoinGecko’s historical 24-hour volume readings for Upbit, Bithumb, Coinone, Korbit and Gopax, comparing seven-day periods in July 2025 and July 2026.
On a combined basis, average daily volume fell about 89%, to $305 million from $2.82 billion in the comparable July 2025 period.
More crypto news from Korea:
— South Korean crypto exchange Korbit will reportedly rebrand as Digital X after becoming part of Mirae Asset Group.
— South Korea’s KB Kookmin Bank will launch a blockchain-based cross-border payment service for import and export businesses in August using JPMorgan’s Kinexys network.
— South Korean regulators have removed 29 unlicensed crypto exchange apps from the Google Play store. Affected apps include those from OKX, Bybit, MEXC, Kucoin, Gemini, Backpack, and BitMEX.
— North Korean authorities have reportedly arrested a group of former state cyber operators and IT specialists accused of hacking two state banks and laundering stolen funds through cryptocurrency.
Thailand SEC files complaint against Bitkub over alleged false disclosures
Thailand’s SEC filed a criminal complaint against Bitkub and two former directors over alleged false disclosures linked to a 2021 cyberattack involving $50 million in assets.
The complaint names former Bitkub directors Sakolkorn Sakavee and Thaweesap Rawan, who the SEC said were responsible for submitting company reports during the period under investigation.
The case comes as Bitkub’s parent company considers a potential public listing, putting renewed attention on transparency and governance at one of Thailand’s most prominent crypto businesses.
More crypto news from Thailand:
— Thailand’s Kbank has signed a memorandum of understanding with BPMG…
cointelegraph.com