Cybercrime

Agentic AI could accelerate and automate future cyberattacks, Malwarebytes warns

A new report by Malwarebytes warns that the rise of agentic AI will significantly increase the frequency, sophistication, and scale of cyberattacks.

Since the launch of ChatGPT in late 2022, threat actors have used generative AI to write malware, craft phishing emails, and execute realistic social engineering schemes.

One notable case from January 2024 involved a finance employee who was deceived into transferring $25 million during a video call with AI-generated deepfakes of company executives.

Criminals have also found ways to bypass safety features in AI models using techniques such as prompt chaining, injection, and jailbreaking to generate malicious outputs.

While generative AI has already lowered the barrier to entry for cybercrime, the report highlights that agentic AI—capable of autonomously executing complex tasks—poses a far greater risk by automating time-consuming attacks like ransomware at scale.

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Cyber scams use a three-letter trap

Staying safe from cybercriminals can be surprisingly simple. While AI-powered scams grow more realistic, some signs are still painfully obvious.

If you spot the letters ‘.TOP’ in any message link, it’s best to stop reading and hit delete. That single clue is often enough to expose a scam in progress.

Most malicious texts pose as alerts about road tolls, deliveries or account issues, using trusted brand names to lure victims into clicking fake links.

The worst of these is the ‘.TOP’ top-level domain (TLD), which has become infamous for its role in phishing and scam operations. Although launched in 2014 for premium business use, its low cost and lack of oversight quickly made it a favourite among cyber gangs, especially those based in China.

Today, nearly one-third of all .TOP domains are linked to cybercrime — far surpassing the criminal activity seen on mainstream domains like ‘.com’.

Despite repeated warnings and an unresolved compliance notice from internet regulator ICANN, abuse linked to .TOP has only worsened.

Experts warn that it is highly unlikely any legitimate Western organisation would ever use a .TOP domain. If one appears in your messages, the safest option is to delete it without clicking.

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Secret passwords could fight deepfake scams

As AI-generated images grow increasingly lifelike, a cyber security expert has warned that families should create secret passwords to guard against deepfake scams.

Cody Barrow, chief executive of EclecticIQ and a former US government adviser, says AI is making it far easier for criminals to impersonate others using fabricated videos or images.

Mr Barrow and his wife now use a private code to confirm each other’s identity if either receives a suspicious message or video.

He believes this precaution, simple enough for anyone regardless of age or digital skills, could soon become essential. ‘It may sound dramatic here in May 2025,’ he said, ‘but I’m quite confident that in a few years, if not months, people will say: I should have done that.’

The warning comes the same week Google launched Veo 3, its AI video generator capable of producing hyper-realistic footage and lifelike dialogue. Its public release has raised concerns about how easily deepfakes could be misused for scams or manipulation.

Meanwhile, President Trump signed the ‘Take It Down Act’ into law, making the creation of deepfake pornography a criminal offence. The bipartisan measure will see prison terms for anyone producing or uploading such content, with First Lady Melania Trump stating it will ‘prioritise people over politics’

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Authorities strike down cybercriminal servers

Authorities across Europe, North America and the UK have dismantled a major global malware network by taking down over 300 servers and seizing millions in cryptocurrency. The operation, led by Eurojust, marks a significant phase of the ongoing Operation Endgame.

Law enforcement agencies from Germany, France, the Netherlands, Denmark, the UK, the US and Canada collaborated to target some of the world’s most dangerous malware variants and the cybercriminals responsible for them.

The takedown also resulted in international arrest warrants for 20 suspects and the identification of more than 36 individuals involved.

The latest move follows similar action in May 2024, which had been the largest coordinated effort against botnets. Since the start of the operation, over €21 million has been seized, including €3.5 million in cryptocurrency.

The malware disrupted in this crackdown, known as ‘initial access malware’, is used to gain a foothold in victims’ systems before further attacks like ransomware are launched.

Authorities have warned that Operation Endgame will continue, with further actions announced through the coalition’s website. Eighteen prime suspects will be added to the EU Most Wanted list.

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Banks push to scrap SEC cyber reporting rule

Five major US banking groups have asked the Securities and Exchange Commission (SEC) to drop its cyber security disclosure rule. The rule requires public companies to report incidents, such as data breaches, within four days.

The American Bankers Association and others said in a letter that the rule conflicts with systems built to protect critical infrastructure. They warned it may hurt law enforcement and cause market confusion.

The rule, introduced in July 2023, also affects crypto firms like Coinbase. However, the exchange recently reported a breach where hackers bribed staff for user data. Coinbase rejected a $20 million ransom but now faces at least seven lawsuits.

Banking groups want the SEC to remove Item 1.05 from Form 8-K rules. They argue investors would still be protected under existing rules for material information, without the risks of rushed public reporting.

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Ransomware gang leaks French government emails

A ransomware gang has published what it claims is sensitive data from multiple French organisations on a dark web forum.

The Stormous cartel, active since 2022, posted the dataset as a ‘comprehensive leak’ allegedly involving high-profile French government bodies.

However, researchers from Cybernews examined the information and found the data’s quality questionable, with outdated MD5 password hashes indicating it could be from older breaches.

Despite its age, the dataset could still be dangerous if reused credentials are involved. Threat actors may exploit the leaked emails for phishing campaigns by impersonating government agencies to extract more sensitive details.

Cybernews noted that even weak password hashes can eventually be cracked, especially when stronger security measures weren’t in place at the time of collection.

Among the affected organisations are Agence Française de Développement, the Paris Region’s Regional Health Agency, and the Court of Audit.

The number of exposed email addresses varies, with some institutions having only a handful leaked while others face hundreds. The French cybersecurity agency ANSSI has yet to comment.

Last year, France faced another massive exposure incident affecting 95 million citizen records, adding to concerns about ongoing cyber vulnerabilities.

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Meta and PayPal users targeted in new phishing scam

Cybersecurity experts are warning of a rapid and highly advanced phishing campaign that targets Meta and PayPal users with instant account takeovers. The attack exploits Google’s AppSheet platform to send emails from a legitimate domain, bypassing standard security checks.

Victims are tricked into entering login details and two-factor authentication codes, which are then harvested in real time. Emails used in the campaign pose as urgent security alerts from Meta or PayPal, urging recipients to click a fake appeal link.

A double-prompt technique falsely claims an initial login attempt failed, increasing the likelihood of accurate information being submitted. KnowBe4 reports that 98% of detected threats impersonated Meta, with the remaining targeting PayPal.

Google confirmed it has taken steps to reduce the campaign’s impact by improving AppSheet security and deploying advanced Gmail protections. The company advised users to stay alert and consult their guide to spotting scams. Meta and PayPal have not yet commented on the situation.

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Sui DEX Cetus suffers suspected $200m hack

A major security incident has struck Cetus, a decentralised exchange (DEX) on the Sui blockchain, with suspected losses exceeding $200 million. Onchain data revealed rapid asset drainage, prompting experts to label the event as a possible hack rather than a mere bug, as claimed by the Cetus team.

Reports indicate that at least $63 million has already been transferred to Ethereum, including a large single transaction of 20,000 ETH moved to a new wallet.

Transaction volumes on Cetus surged to $2.9 billion on 22 May, compared to $320 million the previous day, suggesting funds were rapidly siphoned from the platform.

Several tokens lost over 75% of their value, causing wider disruption; for instance, the Sui-based money market Scallop halted all borrowing activities as a precaution.

Concerns over transparency have grown as $212 million in assets were reportedly bridged to Ethereum at a rate of $1 million per minute. Analysts argue the scale and speed of transfers hint at something more serious than a simple software glitch.

Cetus paused the affected smart contract and announced an ongoing investigation, but has yet to provide a detailed response.

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Taiwan targets Facebook scam ads with new penalties

Taiwan’s Ministry of Digital Affairs plans to impose penalties on Meta for failing to enforce real-name verification on Facebook ads, according to Minister Huang Yen-nan. The move follows a recent meeting with law enforcement and growing concerns over scam-related losses.

A report from CommonWealth Magazine found Taiwanese victims lose NT$400 million (US$13 million) daily to scams, with 70% of losses tied to Facebook. Facebook has been the top scam-linked platform for two years, with over 60% of users reporting exposure to fraudulent content.

From April 2023 to September 2024, nearly 59,000 scam ads were found across Facebook and Google. One Facebook group in Chiayi County, with 410,000 members, was removed after being overwhelmed with daily fake job ads.

Huang identified Meta as the more problematic platform, saying 60% to 70% of financial scams stem from Facebook ads. Police have referred 15 cases to the ministry since May, but only two resulted in fines due to incomplete advertiser information.

Legislator Hung Mung-kai criticized delays in enforcement, noting that new anti-fraud laws took effect in February, but actions only began in May. Huang defended the process, stating platforms typically comply with takedown requests and real-name rules.

Under current law, scam ads must be removed within 24 hours of being reported. The ministry has used AI to detect and remove approximately 100,000 scam ads recently. Officials are now planning face-to-face meetings with Meta to demand stronger ad oversight.

Deputy Interior Minister Ma Shi-yuan called on platforms like Facebook and Line to improve ad screening, emphasizing that law enforcement alone cannot manage the volume of online content.

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M&S website still offline after cyberattack

Marks & Spencer’s website remains offline as the retailer continues recovering from a damaging cyberattack that struck over the Easter weekend.

The company confirmed the incident was caused by human error and may cost up to £300 million. Chief executive Stuart Machin warned the disruption could last until July.

Customers visiting the site are currently met with a message stating it is undergoing updates. While some have speculated the downtime is due to routine maintenance, the ongoing issues follow a major breach that saw hackers steal personal data such as names, email addresses and birthdates.

The firm has paused online orders, and store shelves were reportedly left empty in the aftermath.

Despite the disruption, M&S posted a strong financial performance this week, reporting a better-than-expected £875.5 million adjusted pre-tax profit for the year to March—an increase of over 22 per cent. The company has yet to comment further on the website outage.

Experts say the prolonged recovery likely reflects the scale of the damage to M&S’s core infrastructure.

Technology director Robert Cottrill described the company’s cautious approach as essential, noting that rushing to restore systems without full security checks could risk a second compromise. He stressed that cyber resilience must be considered a boardroom priority, especially for complex global operations.

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