Microsoft has revealed it tracks over 600 million identity attacks per day, as cybercriminals refine their tactics and work together more closely.

In its 'Digital Defense Report 2024', Microsoft highlighted that identity-based attacks have surged due to the widespread shift to cloud services. The report noted that Microsoft Entra blocked 7,000 password attacks per second over the last year.

Despite the adoption of multi-factor authentication (MFA) by 41 per cent of its enterprise customers, attackers are using advanced techniques such as adversary-in-the-middle (AiTM) attacks to bypass MFA security measures. A significant 99 per cent of identity attacks still rely on stolen or phished passwords, underscoring the vulnerability of password-based systems.

The report also showed a stark increase in attempted ransomware attacks, with a 2.75-fold rise driven by groups like Akira, Lockbit, and Play. However, despite the spike in attempts, successful ransomware encryptions have dropped threefold, suggesting some defensive measures are proving effective. Also, the evolving threat landscape has seen a rise in hybrid warfare tactics, including cyber-attacks on operational technology (OT) and government entities in the context of global conflicts.

Businesses looking to mitigate the risk of identity-based attacks should consider a transition to passwordless authentication methods. This, coupled with enhanced AI-driven security tools, could help close the gaps exploited by increasingly sophisticated cyber threats.