Binance “red teams” employ their own staff every month to keep hackers at bay

Cryptocurrency exchange Binance has been carrying out simulated phishing attacks on its employees for four years and may fire employees who repeatedly fail the tests, according to Jimmy Su, Binance’s chief security officer.

The fraudulent attacks are carried out by Binance’s red team, an internal ethical hacking unit tasked with breaking into systems to identify security vulnerabilities.

“We conduct phishing attacks on our employees every month to see if our security hygiene is improving,” Su told Cointelegraph. “For those that didn’t make it, we’ll give them repair training.”

In February, AMLBot estimated that 65% of cryptocurrency security incidents in 2025 were due to social engineering.

BitChat GitHub India takedown order ‘unconstitutional’

The Indian Internet Freedom Foundation (IFF) has condemned the government’s order directing GitHub to remove the repositories of Jack Dorsey’s decentralized messaging app BitChat, calling the move unconstitutional and warning that it threatens free speech and open source software.

The statement it came a day after India’s cybercrime agency ordered GitHub to block 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 illicit activities.

BitChat is a decentralized messaging application that sends encrypted messages between nearby devices via Bluetooth without relying on an internet connection or centralized servers.

Since its launch in July 2025, the app has gained popularity during periods of unrest and internet outages in countries including Madagascar, Nepal, Uganda, Jamaica and Iran.

More crypto news from India:

— issued by the Central Board of Direct Taxes (CBDT) of India. conductivity directing cryptocurrency exchanges to report all transactions on their platforms to the income tax department.

Balaji Network School Turns to Kazakhstan in the Face of Malaysia’s Failures

Balaji Srinivasan’s utopian online school appears to be relocating to Kazakhstan after Malaysian authorities revoked its operating license over alleged premises violations.

A memorandum of understanding was signed between the Minister of Digital Development of Kazakhstan and Srinivasan to establish a campus in the country, which positions itself as an emerging technology hub and has plans for Central Asia’s first “crypto city” in Alatau.

The Network School has found itself at the center of a scandal over admitting Israeli citizens, given that the Muslim-majority country has no diplomatic relations with Israel. The US State Department summoned the Malaysian envoy ask for clarification on the country’s apparent policy of deporting dual citizens holding Israeli passports.

Source: The Times of Israel/Reuters

Cryptocurrency volumes in South Korea are sinking as retail investors shift to stocks

South Korea’s five major cryptocurrency exchanges saw their combined trading activity decline by 89% year-on-year, even as the country’s stock market grew.

The benchmark value of the Korea Composite Stock Price Index (KOSPI) more than doubled during the period, while volumes on the country’s largest won-based cryptocurrency platforms fell sharply.

Cointelegraph reviewed historical 24-hour CoinGecko volume readings for Upbit, Bithumb, Coinone, Korbit and Gopax, comparing seven-day periods in July 2025 and July 2026.

Overall, average daily volume dropped approximately 89% to $305 million from $2.82 billion in the comparable period in July 2025.

More crypto news from Korea:

— South Korean cryptocurrency exchange Korbit will reportedly change its name to Digital X after it becomes part of Mirae Asset Group.

— South Korea’s KB Kookmin Bank will launch a blockchain-based cross-border payments service for import and export businesses in August using JPMorgan’s Kinexys network.

— South Korean regulators have removed 29 unlicensed cryptocurrency exchange apps from the Google Play Store. Affected applications include: 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 breaking into two state-owned banks and laundering stolen funds using cryptocurrency.

Thailand’s SEC files complaint against Bitkub over alleged false disclosures

Thailand’s SEC has filed a criminal complaint against Bitkub and two former executives over alleged false disclosures related to a 2021 cyberattack that involved $50 million in assets.

The complaint names former Bitkub executives Sakolkorn Sakavee and Thaweesap Rawan, who the SEC said were responsible for filing company reports during the investigation period.

The case comes as parent company Bitkub considers a potential stock exchange listing, putting a renewed emphasis on transparency and governance at one of Thailand’s most significant cryptocurrency companies.

More crypto news from Thailand:

— Kbank in Thailand signed a memorandum of understanding with BPMG and HashKey Group to develop stablecoin-based cross-border remittance services.

—Thai authorities raided it seven illegal bitcoin mining operations following the discovery of large-scale electricity theft. Over 1,900 cryptocurrency mining machines were seized.

One of two Bitcoin mining warehouses in Samut Sakhon is allegedly stealing energy. Source: DSI Facebook page.

Philippine bank BPI plans to pilot stablecoin payments

The Bank of the Philippine Islands (BPI) plans to pilot a stablecoin-based settlement rail enabling cross-border payments to freelancers, virtual assistants and other workers earning income abroad.

The system, developed in partnership with global digital clearing house Meridian, aims to reduce the cost and processing time of incoming payments while maintaining the security features used in conventional banking transactions, in line with ABS-CBN and Philippine Daily Inquirer.

Stablecoins will be used as a settlement instrument before funds are converted into Philippine pesos and credited to recipients’ BPI accounts.

Coinbase to enhance staffing in Singapore offices by 25%: report

Cryptocurrency exchange Coinbase plans to expand its presence in Singapore and enhance its workforce from 150 to approximately 200 employees by the end of 2026.

The cryptocurrency exchange is mainly looking for more engineers, customer service, relationship management staff and institutional sales representatives for its Singapore office, which opened on Wednesday at One Raffles Quay.

Hassan Ahmed, Coinbase Country Manager for Singapore, he said Business Times The exchange plans to expand its operations in Singapore as the city increasingly becomes a strategic center for cryptocurrency innovation.

More crypto news from Singapore:

— Singapore Police and US FBI signed Memorandum of Understanding to strengthen joint action on online fraud, including cryptocurrency fraud, cyber fraud and money laundering cases.

— Singaporean payments company Triple-A reportedly lost $11.8 million after exhausting its scorching wallet. The company said it was investigating, but customer funds were not affected.

– Monetary Authority of Singapore yes tightened monetary policywhich will lead to the Singapore dollar appreciating by approximately 1% per year.

Hong Kong crypto giant HashKey combines regional exchanges into one

HashKey Holdings, a digital asset services company in Hong Kong, has merged its exchanges HashKey Exchange and HashKey Global into a single platform and application.

Major jurisdictional centers including Hong Kong, Singapore, the Middle East (Dubai) and Bermuda have been brought together under one platform.

The idea is that all users download the same app wherever they are, while the platform manages compliance with local regulatory frameworks.

News from China at a glance

-A A man from Hunan has been punished under the Act on Counteracting Telecommunications and Internet Fraud for reselling virtual currency for profit and for lending his relative’s payment accounts to other people so that they can receive and send funds.

—The authorities in Shenzen have approxhe lost many social media accounts to generate cryptocurrencies.