SMS phishing scam hits 885,000 numbers: The real risk to your cryptoasset custody

A large-scale phishing campaign targeting 885,000 phone numbers highlights a critical security vulnerability for retail investors using mobile wallets. As digital asset values rise, attracting less experienced entrants, social engineering sophistication is increasing. Amid a volatile market—with the commercial Dollar at R$ 5.17 and Bitcoin seeing a $3 billion short liquidation—investors often neglect digital hygiene in the pursuit of quick profits. With record ETF inflows of $517 million, the risk of permanent capital loss remains high, especially in self-custody wallets where no recovery mechanism exists. Given the macroeconomic environment and the hunt for yields above the 14% Selic rate, security is the primary differentiator for investor survival. Over the next 90 to 180 days, we expect increased phishing attempts followed by a shift toward more robust MFA standards.