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10 lakh cyber attacks from Phishing-as-a-Service platforms in just two months

10 lakh cyber attacks from Phishing-as-a-Service platforms in just two months

  • 25.03.2025 07:49
  • thehindubusinessline.com
  • Keywords: Phishing, Cybersecurity

Over two months, 10 lakh cyberattacks from Phishing-as-a-Service (PhaaS) platforms were detected, primarily using Tycoon 2FA, EvilProxy, and Sneaky 2FA. These tools employ advanced tactics like encrypted scripts and Telegram for data exfiltration, making detection difficult.

Microsoft Reports

Estimated market influence

Barracuda

Positivesentiment_satisfied
Analyst rating: N/A

Reported on Tycoon 2FA and provided insights into PhaaS evolution.

Context

Analysis and Summary: Cybersecurity Insights from Phishing-as-a-Service (PhaaS) Trends

Key Facts and Data Points

  • 10 lakh cyber attacks: 10 lakh (1 million) cyber attacks were blocked in the first two months of the year, originating from PhaaS platforms.
  • Timeframe: The incidents occurred within a short span of two months.
  • Phishing Kits: Three major phishing kits were identified:
    • Tycoon 2FA: Accounted for 89% of detected incidents.
    • EvilProxy: Responsible for 8% of attacks.
    • Sneaky 2FA: A newcomer, involved in 3% of incidents.

Technical Details and Sophistication

  • Encryption and Obfuscation: Tycoon 2FA uses encrypted scripts with substitution ciphers and invisible characters (Hangul Filler) to evade detection.
  • Browser Identification: The script identifies victim browser types for customised attacks.
  • Telegram Integration: Phishing kits leverage Telegram for data exfiltration.
  • AES Encryption: Used to disguise credentials before sending them to remote servers.

Market and Industry Implications

  • Rising Threat Landscape: The rapid evolution of PhaaS platforms poses significant risks to organisations, particularly those using cloud-based services like Microsoft 365.
  • Growing Sophistication: Advanced phishing techniques make detection by traditional security tools increasingly challenging.
  • Demand for AI/ML Solutions: There is a rising need for advanced, multilayered defence strategies incorporating AI and machine learning to combat evolving threats.

Competitive Dynamics

  • Cybersecurity Companies: Organisations like Barracuda are highlighting the importance of proactive security measures, positioning themselves as key players in providing robust cybersecurity solutions.
  • Focus on Employee Training: Emphasising the need for a strong security culture and consistent authentication policies to mitigate risks.

Long-Term Effects

  • Economic Impact: The increasing sophistication of PhaaS platforms could lead to higher costs for businesses due to increased frequency and severity of attacks.
  • Regulatory Pressures: Potential regulatory scrutiny may intensify as governments seek to address the growing threat of cyberattacks.

Strategic Considerations

  • Investment in AI/ML Tools: Businesses should prioritise investments in AI-driven detection systems to stay ahead of evolving phishing techniques.
  • Collaborative Defence: Organisations must adopt a multi-layered defence approach, combining technology and human-centric security practices.