PHISH-AITM

The Retool breach in 2023 is a tour of every modern phishing trick stacked on top of each other, and a warning about a feature you might have turned on. It started as a text message to employees about a fake payroll problem, timed to coincide with a real internal migration so it looked plausible. One employee clicked and entered their credentials and an MFA code. Then the attacker called them with a deepfaked, familiar-sounding voice and talked them into reading out one more code, which let the attacker hijack the employee's Okta account, and through it their Google account, where Google Authenticator's new cloud-sync feature had backed up every one of their MFA codes at once, turning multi-factor authentication back into single-factor. The attacker reached 27 cloud customers, all in crypto. It is the lesson that MFA's strength depends entirely on how it is implemented.

Spear phishing is a phishing attack crafted for a specific person or organization using reconnaissance (role, current projects, colleagues, vendors) so the lure looks legitimate, unlike high-volume bulk phishing. The payload is usually a credential-harvesting login page or a weaponized attachment. It is the dominant initial-access vector behind major breaches (RSA in 2011, the 2016 Clinton-campaign compromise) and the entry point for most ransomware and BEC. Because it exploits human trust rather than a software flaw, technical controls alone do not stop it: defense pairs detonation and email authentication with phishing-resistant MFA and least privilege so a single phished account is contained.

In March 2016, the chairman of Hillary Clinton's presidential campaign got an email that looked like a routine Google security alert: someone has your password, change it now. He clicked, entered his password on the page it linked to, and that page belonged to Russian military intelligence. There was no malware and no software exploit, just one convincing fake login page and one click. The attackers, Fancy Bear, stole more than 50,000 of John Podesta's emails, a trove WikiLeaks then drip-fed in waves through the final weeks of the US election. It is the canonical example of how a single phishing email, aimed at the right person, can alter history.

Quishing delivers the phishing link as a QR code instead of a clickable URL, usually embedded in an email body, a PDF, or an image so it survives URL-reputation and link-scanning filters that only parse text. Scanning the code moves the victim onto a personal phone, outside enterprise EDR, proxy, and email controls, where a fake login page harvests credentials and is frequently chained with adversary-in-the-middle to steal the session. Adoption is rising fast: Microsoft reported QR-code phishing up roughly 146% and said pre-delivery scanning blocked about 1.5 million quishing attempts per day in 2024, and kits increasingly fold QR codes into OAuth device-code phishing flows.

Business email compromise is a social-engineering fraud in which an attacker impersonates a trusted party (an executive, a supplier, an attorney, payroll) over email to trick staff into wiring money or changing payment details. No malware is required; it abuses trust and weak payment process. Attackers either spoof a lookalike domain or take over a real mailbox and watch threads to time the request to a live invoice. The FBI's Internet Crime Complaint Center ranks BEC the costliest cybercrime category by dollar losses, identifying roughly $51 billion in exposed losses globally between October 2013 and December 2022, rising to about $55 billion by 2023, reported across more than 177 countries. Common variants are CEO/wire fraud, vendor and invoice fraud, payroll diversion, and real-estate closing fraud.

Between roughly 2013 and 2015, Lithuanian national Evaldas Rimasauskas ran a business email compromise scheme that defrauded Google and Facebook of about $120 million. He registered a company in Latvia under the same name as Quanta Computer, a Taiwan-based hardware maker both firms genuinely did business with, then emailed forged invoices, contracts, and letters on spoofed corporate letterhead to employees who routinely paid Quanta. The companies wired payments to attacker-controlled bank accounts (Facebook nearly $100 million and Google over $23 million) before the fraud was detected. Rimasauskas was arrested in March 2017, pleaded guilty to wire fraud in March 2019, and was sentenced to five years in prison and ordered to forfeit nearly $50 million. Both companies recovered most of the funds. It remains the textbook large-scale vendor-impersonation BEC.