Storm-2945, a sub-cluster of the Russian threat actor Midnight Blizzard, has been observed compromising the sign-in portals of hospitality-related organizations such as hotels since May 2026 in order to deliver malware to travelers and steal credentials in an operation we call CaptiveCrunch.
In the second quarter of 2026, the continuing effects of Microsoft’s disruption of the Tycoon2FA phishing platform contributed to sustained declines in several major phishing techniques, while threat actors expanded into Teams-based social engineering and employed increasingly automated and multi-stage attack chains.
As threat actors operationalize AI to accelerate attacks, they are also leveraging the wider global interest around AI itself as a social engineering lure.
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Microsoft Defender Research observed a large-scale credential theft campaign that exemplifies this trend, using code of conduct-themed lures, a multi-step attack chain, and legitimate email services to distribute fully authenticated messages from attacker-controlled domains.
In early 2026, email threats increased with a rise in credential phishing, QR code phishing, and CAPTCHA-gated campaigns, highlighted by Microsoft’s disruption of the Tycoon2FA phishing platform which led to a 15% volume decrease and shifts in threat actor tactics.
Microsoft Incident Response – Detection and Response Team (DART) researchers observed an emerging, financially motivated threat actor, tracked as Storm-2755, compromising Canadian employee accounts to gain unauthorized access to employee profiles and divert salary payments to attacker-controlled accounts.
Executive summary Forest Blizzard, a threat actor linked to the Russian military, has been compromising insecure home and small-office internet equipment like routers, then modifying their settings in ways that turn them into part of the actor’s malicious infrastructure.
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During tax season, threat actors reliably take advantage of the urgency and familiarity of time-sensitive emails, including refund notices, payroll forms, filing reminders, and requests from tax professionals, to push malicious attachments, links, or QR codes.
Tycoon2FA has become a leading phishing-as-a-service (PhaaS) platforms, enabling campaigns that reach over 500,000 organizations monthly, prompting Microsoft’s Digital Crimes Unit (DCU) to work with Europol and industry partners to facilitate a disruption of Tycoon2FA’s infrastructure and operations.
Microsoft Defender Researchers uncovered a multi‑stage AiTM phishing and business email compromise (BEC) campaign targeting multiple organizations in the energy sector.
Threat actors are exploiting complex routing scenarios and misconfigured spoof protections to send spoofed phishing emails, crafted to appear as internally sent messages.