Just saw that Binance organizes internal simulated hacking drills every month. They even have a dedicated 'hacker team' called the Red Team responsible for attacking the system and phishing employees. Those who fail the tests can even get fired. With North Korean hackers being so rampant and no major company spared, compliance and proof of reserves might ensure exchanges don’t misuse funds or collapse, but the real fear is having North Korean hackers rob the house. These kinds of activities by exchanges are actually pretty meaningful. This reminds me of when I worked at Alibaba. Every year from July to August, the entire company would be on high alert for the Cybersecurity Protection Campaign. Back then, it was a national-level cybersecurity attack and defense drill led by the Ministry of Public Security. All government agencies, state-owned enterprises, airlines, energy companies, telecoms, healthcare organizations, and large corporations were required to participate. The Red Team, composed of top-tier hackers from the Ministry of Public Security, major security firms, universities, and independent experts, represented the pinnacle of China’s hacking power. Their goal was to infiltrate core systems and gain access to permissions and data. The Blue Team, responsible for defense, consisted of all the participating organizations themselves, tasked with detecting and blocking every attack. During the Cybersecurity Protection Campaign, the Red Team used all kinds of attack methods, like hacking into a property’s air conditioning system to access the internal network and gain server permissions, or disguising themselves as IT repair technicians to sneak into companies. The crypto industry should also organize an industry-level Cybersecurity Protection Campaign.