Hot Cybercrime Summer:  Smishing, Supply Chains, and Sleuthcon

In this episode, host Elliot Volkman is joined by Chloe Messdaghi and Karen Frost for a behind-the-scenes look at Microsoft’s annual Digital Defense Report (MDDR). They explore how AI is reshaping the cybersecurity landscape by increasing the speed, scale, and automation of attacks while also giving defenders new tools to detect and respond to threats. The conversation covers AI agents, phishing and identity-based attacks, vulnerability management, security resilience, and the growing need for organizations to connect signals across their environments. Chloe and Karen also share practical priorities for CISOs and discuss what the rise of increasingly autonomous AI agents could mean for the future of cyber defense.  In this episode you’ll learn:       AI is accelerating the speed and scale of cyber threats  Identity protection and phishing-resistant MFA remain critical  Defenders need AI to manage growing security signals and threats  Some questions we ask:      How can we keep up with vulnerabilities and determine which patches to prioritize?  If you’re a CISO reading the report, what are the three biggest actions you should take?  What does the research and threat intelligence tell us about the changing risk landscape?  Resources:   Read the report  Access the shorter summary  View Chloe Messdaghi on LinkedIn   View Elliot Volkman on LinkedIn     Related Microsoft Podcasts:                    The BlueHat Podcast  Uncovering Hidden Risks        Discover and follow other Microsoft podcasts at microsoft.com/podcasts     Get the latest threat intelligence insights and guidance at Microsoft Security Insider    The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network. 

This week we are taking you back to Black Hat USA 2026 and exploring two sides of the security landscape.  First, Microsoft incident response experts Adrian Hill and Terry Mee break down identity-based attacks, from compromised credentials and MFA bypasses to containment, logging, access controls, and the growing risks surrounding AI agents.  Then, members of Microsoft’s Defender Purple Team discuss how they recreate full attack chains, including emerging AI-driven techniques, to identify detection gaps, strengthen defenses, and use AI to accelerate security research while keeping human expertise in the loop.  In this episode you’ll learn:  Why identity is at the center of modern security incidents  How attackers can bypass MFA and maintain access through sessions, tokens, and other forms of persistence  Why logging and long-term data retention are critical during incident response  How purple teams recreate full attack chains to uncover gaps in detection and response  Where AI can accelerate security research, and where deterministic systems and human oversight still matter  Why AI agents introduce new risks around access, permissions, and trust  Some questions we ask:  What should organizations be logging and retaining for incident response?  Where do organizations underestimate SaaS, OAuth, and identity persistence risks?  When should defenders contain an attacker versus continue gathering intelligence?  How does attacking an AI-enabled system begin to look like traditional offensive security?  Where should security researchers trust AI, and where should they rely on deterministic systems?  What should security teams understand about the exposure and permissions of their AI agents?     Resources:   View Elliot Volkman on LinkedIn     Related Microsoft Podcasts:                    Afternoon Cyber Tea with Ann Johnson  The BlueHat Podcast  Uncovering Hidden Risks        Discover and follow other Microsoft podcasts at microsoft.com/podcasts     Get the latest threat intelligence insights and guidance at Microsoft Security Insider    The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network. 

In this episode of the Microsoft Threat Intelligence Podcast, recorded live at Black Hat, Microsoft Threat Intelligence Director Elliot Volkman is joined by Andrew “Spike” Brandt, Principal Threat Intelligence Incident Commander at Huntress.  They explore how cybercriminals are increasingly abusing legitimate remote monitoring and management (RMM) tools, why trusted remote-access software has become an attractive alternative to traditional malware, and how AI is improving phishing and social engineering. Spike also breaks down a real-world attack that deployed multiple RMM tools to maintain access, shares stories from his years of interacting directly with threat actors and offers practical guidance for detecting suspicious RMM activity before it leads to ransomware or data theft.  In this episode you’ll learn:       How AI is making phishing lures and fake websites more convincing  Why trusted remote-access software can evade traditional endpoint detection  How security teams can identify and block unauthorized RMM activity  Some questions we ask:      What information are attackers looking for once they gain access?  Why are attackers choosing legitimate tools instead of traditional malware?  How does compromised access eventually lead to ransomware or data theft?    Resources:   Huntress report on RMM abuse  View Andrew Brandt on LinkedIn   View Elliot Volkman on LinkedIn     Related Microsoft Podcasts:                    Afternoon Cyber Tea with Ann Johnson  The BlueHat Podcast  Uncovering Hidden Risks        Discover and follow other Microsoft podcasts at microsoft.com/podcasts     Get the latest threat intelligence insights and guidance at Microsoft Security Insider    The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network. 

In this episode of the Microsoft Threat Intelligence Podcast, we are joined by Sysdig’s Michael Clark and Crystal Morin to discuss JADEPUFFER, one of the first documented cases of an LLM conducting an end-to-end ransomware operation. They break down how the agent, and the direction of a threat actor was identified, how AI is lowering the barrier to entry for ransomware, and why speed and adaptability are changing the threat landscape. Plus, they explore what organizations can do to defend against AI-powered attacks, from basic security hygiene and exposure management to better understanding their growing AI infrastructure.    In this episode you’ll learn:       How Jade Puffer used an LLM to conduct a ransomware attack  Why agentic AI can make cyberattacks faster and more adaptable  How organizations can better protect their growing AI infrastructure  Some questions we ask:      How did you determine an LLM was conducting the attack?  What basic security practices are most important against these attacks?  Does AI allow less-sophisticated threat actors to carry out more advanced attacks?    Resources:   Read the research on JADEPUFFER  View Crystal Morin on LinkedIn   View Michael Clark on LinkedIn   View Elliot Volkman on LinkedIn     Related Microsoft Podcasts:                    Afternoon Cyber Tea with Ann Johnson  The BlueHat Podcast  Uncovering Hidden Risks      Discover and follow other Microsoft podcasts at microsoft.com/podcasts     Get the latest threat intelligence insights and guidance at Microsoft Security Insider    The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network. 

In this episode of the Microsoft Threat Intelligence Podcast, Microsoft Threat Intelligence Director⁠ Elliot Volkman is joined by Microsoft Principal Threat Intelligence Analyst Crane Hassold to explore how phishing and social engineering attacks are changing beyond email. They discuss the rise of QR code phishing, Microsoft Teams scams, SMS-based attacks, and why attackers continue to follow wherever people communicate. Crane also shares practical security recommendations for organizations and explains how Microsoft's disruption of the Tycoon2FA phishing-as-a-service platform led to a dramatic decline in malicious activity while reshaping the broader phishing landscape.  In this episode you’ll learn:      How phishing attacks are evolving beyond email The security basics every organization should prioritize How attackers are exploiting Microsoft Teams and SMS Some questions we ask:     What are you seeing in today's social engineering and phishing landscape? How impactful was the Tycoon 2FA disruption? Has Tycoon activity shifted elsewhere after the disruption? Resources:  View Elliot Volkman on LinkedIn  View Crane Hassold on LinkedIn  Related Microsoft Podcasts: Afternoon Cyber Tea with Ann Johnson The BlueHat Podcast Uncovering Hidden Risks     Discover and follow other Microsoft podcasts at microsoft.com/podcasts  Get the latest threat intelligence insights and guidance at Microsoft Security Insider The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network.

As we close out season three of the podcast, Sherrod offers her farewell message as she takes on a new threat intelligence leadership role outside of Microsoft. Our executive producer also joins to briefly share our plans for season four, with new faces and voices joining future episodes.

In this episode of the Microsoft Threat Intelligence Podcast, host⁠ ⁠⁠Sherrod DeGrippo is joined by co-authors Michael Howard, Lee Holmes, and Shawn Hernan for a discussion on their new book, Threat-Driven Software Development: Defending Online Services from Modern Threat Actors.   Together, they explore how security teams and software developers can build more resilient systems by understanding how real-world threat actors operate. From threat modeling and operational security to the evolving role of AI in both cyber defense and cybercrime, the conversation examines lessons learned from major security incidents and why secure design must be a priority from the earliest stages of software development.  In this episode you’ll learn:       Why security should be driven by real-world threat actor behavior  How developers can reduce risk through better design and operational practices  The role of threat modeling in modern software development  Some questions we ask:      How did the idea for Threat-Driven Software Development come about?  Why is operational security just as important as application security?  What do you hope readers take away from this book?  Resources:   View Lee Holmes on LinkedIn   View Michael Howard on LinkedIn   View Shawn Hernan on LinkedIn   View Sherrod DeGrippo on LinkedIn     Related Microsoft Podcasts:                    The BlueHat Podcast  Uncovering Hidden Risks      Discover and follow other Microsoft podcasts at microsoft.com/podcasts     Get the latest threat intelligence insights and guidance at Microsoft Security Insider    The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network. 

In this episode of the Microsoft Threat Intelligence Podcast, host⁠ ⁠⁠Sherrod DeGrippo sits down with Casey Ellis, founder of Bugcrowd and co-founder of disclose.io, to explore how AI is reshaping vulnerability research, bug bounty programs, and the future of cyber defense. They discuss the growing volume of vulnerabilities, the challenges of responsible disclosure, the rise of AI-assisted hacking, and what happens when increasingly powerful tools are placed in the hands of both defenders and attackers. The conversation also dives into the human side of cybersecurity, from community and creativity to maintaining optimism and connection in an AI-driven world.  In this episode you’ll learn:       How AI is changing vulnerability research for both defenders and threat actors  The challenges of responsible disclosure in an age of rapid software development  Why cybersecurity experts believe vulnerability volume is growing faster than ever  Some questions we ask:       How will AI affect individual threat actors, hacktivists, and cybercriminals?  What tasks should humans continue doing instead of outsourcing AI?  When does publishing vulnerability research help defenders versus help threat actors?  Resources:   View Casey Ellis on LinkedIn   View Sherrod DeGrippo on LinkedIn     Related Microsoft Podcasts:                    The BlueHat Podcast  Uncovering Hidden Risks      Discover and follow other Microsoft podcasts at microsoft.com/podcasts   Get the latest threat intelligence insights and guidance at Microsoft Security Insider    The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network.

In this episode of the Microsoft Threat Intelligence Podcast, host⁠ ⁠⁠Sherrod DeGrippo sits down with Aurora Johnson of SpyCloud and Amitai Cohen of Wiz ahead of SleuthCon to explore two rapidly changing corners of the cybercrime landscape.   Aurora breaks down the highly organized Chinese-language smishing ecosystem, revealing how phishing operations, fraud networks, and cash-out schemes work together like a mature business.   Amitai examines the growing threat to software supply chains, explaining how groups like Team PCP are exploiting CI/CD pipelines, open-source dependencies, and AI-assisted malware development.   Together, they discuss the industrialization of cybercrime, the role of automation and AI, and why defenders must rethink how they secure today's interconnected digital ecosystem.   In this episode you’ll learn:       Why cybercrime ecosystems now operate like sophisticated businesses  How NFC relay attacks are being used to cash out stolen credit card data  The role Telegram marketplaces play in modern fraud operations  Some questions we ask:      How industrialized has modern cybercrime become?  What clues suggest threat actors are using AI to create malware?  What are defenders missing about CI/CD pipelines as an attack surface?  Resources:   View Aurora Johnson on LinkedIn   View Amitai Cohen on LinkedIn   View Sherrod DeGrippo on LinkedIn     Related Microsoft Podcasts:                    The BlueHat Podcast  Uncovering Hidden Risks      Discover and follow other Microsoft podcasts at microsoft.com/podcasts     Get the latest threat intelligence insights and guidance at Microsoft Security Insider    The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network.

In this episode of the Microsoft Threat Intelligence Podcast, host⁠ ⁠⁠Sherrod DeGrippo is joined by Allie Luhrs and Mario Samolis from Microsoft Security to explore the growing threat of open source software supply chain attacks. They discuss how malicious NPM packages, compromised developer ecosystems, AI-generated attacks, and software dependency risks are reshaping modern incident response, while sharing insights from their recent presentation at BlueHat IL 2025.   In this episode you’ll learn:       How attackers are targeting open source software ecosystems at scale  Why AI is accelerating both cyberattacks and threat detection  What was uncovered during their BlueHat presentation on modern software supply chain attacks  Some questions we ask:      What patterns did you uncover in NPM attack campaigns?  Should developers rely on dependencies or build everything themselves?  Why should organizations pay closer attention to open source security risks?  Resources:   View Allie Luhrs on LinkedIn   View Mario Samolis on LinkedIn   View Sherrod DeGrippo on LinkedIn     Related Microsoft Podcasts:                    Afternoon Cyber Tea with Ann Johnson  The BlueHat Podcast  Uncovering Hidden Risks        Discover and follow other Microsoft podcasts at microsoft.com/podcasts     Get the latest threat intelligence insights and guidance at Microsoft Security Insider    The Microsoft Threat Intelligence Podcast is produced by Microsoft, Hangar Studios and distributed as part of N2K media network.