Rapid7 Discloses Crypto Phishing Campaign Targeting 885k Phone Numbers and 5,576 Binance Accounts

The scale here matters less than the method: an attack surfacing at the phone-number layer rather than the exchange layer shows how much of crypto account security still rests on telecom infrastructure that platforms do not control. Binance users are the direct casualties, but the exposure is industry-wide, since SMS-based authentication remains a common fallback across exchanges. Whether SIM-swap style campaigns keep converting at this rate, and whether exchanges move decisively toward stronger authentication, is the open question.