cybersecurity

Microsoft’s Digital Crimes Unit (DCU) has seized 240 fraudulent websites associated with an Egypt-based cybercrime facilitator. Abanoub Nady (known online as “MRxC0DER”) developed and sold “do it yourself” phish kits and fraudulently used the brand name “ONNX” to sell these services. Numerous cybercriminal and online threat actors purchased these kits and used them in widespread phishing campaigns to bypass additional security measures and break into Microsoft customer accounts. While all sectors are at risk, the financial services industry has been heavily targeted given the sensitive data and transactions they handle. In these instances, a successful phish can have devastating real-world consequences for the victims. It can result in the loss of significant amounts of money, including life savings, which, once stolen, can be very difficult to recover.