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ONE Sentinel

securitySecurity/M365 SECURITY/HIGH

Breaking the code: Multi-stage ‘code of conduct’ phishing campaign leads to AiTM token compromise

sourceMicrosoft Security Blog
calendar_todayMay 4, 2026
schedule1 min read
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EXECUTIVE SUMMARY

Phishing Campaign Exploits Code of Conduct Themes to Compromise Tokens

Summary

Microsoft Defender Research has identified a sophisticated phishing campaign that uses code of conduct-themed lures to steal credentials. This campaign involves a multi-step attack chain and utilizes legitimate email services to distribute messages from attacker-controlled domains.

Key Points

  • The campaign is large-scale and focuses on credential theft.
  • It uses code of conduct-themed lures to deceive targets.
  • Attackers employ a multi-step attack chain to execute the phishing campaign.
  • Legitimate email services are used to send authenticated messages from attacker-controlled domains.
  • The campaign ultimately leads to AiTM (Adversary-in-the-Middle) token compromise.

Analysis

This phishing campaign is significant due to its sophisticated use of legitimate email services and multi-stage attack strategies, making it harder to detect and prevent. The focus on code of conduct themes suggests a targeted approach, potentially aimed at organizations with strict compliance requirements. The compromise of AiTM tokens indicates a high level of threat, as these tokens can be used to bypass traditional security measures.

Conclusion

IT professionals should enhance their email security protocols and educate users about the risks of phishing campaigns, especially those using familiar themes like code of conduct. Implementing multi-factor authentication and monitoring for unusual email activity can help mitigate these threats.