RaccoonO365: Microsoft & Cloudflare Take Down Major Phishing-as-a-Service Network in 2024
In July 2024, Microsoft, in collaboration with Cloudflare and law enforcement, disrupted the RaccoonO365 Phishing-as-a-Service (PhaaS) operation, which enabled cybercriminals to launch large-scale phishing campaigns mimicking Microsoft 365 and other trusted brands. The service, run by Storm-2246 and attributed to Joshua Ogundipe, offered subscription-based kits that automated credential-theft campaigns targeting over 2,300 US organizations and at least 20 healthcare entities. The takedown involved seizing 338 domains, mapping the attack infrastructure, and revealing financial flows in cryptocurrency, shutting down an operation responsible for stealing at least 5,000 sets of credentials from 94 countries. This incident underscores the industrialization of phishing through subscription-based platforms and highlights how low-skill attackers are being enabled at scale. As phishing-as-a-service proliferates and leverages brand impersonation, organizations face escalating risks of credential theft and downstream ransomware or malware attacks.
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