From Fortune · Jeff John Roberts · · 1m 10s
Microsoft and Coinbase Takedown of EvilTokens Phishing Network
Microsoft and Coinbase arrest two men behind AI-powered phishing network that stole $1.1m from businesses.
In brief
Microsoft and Coinbase arrest two men behind AI-powered phishing network that stole $1.1m from businesses. Microsoft and Coinbase arrested two men for running an AI phishing network that stole $1.1 million from businesses between October 2025 and June 2026. Originally reported by Fortune.
Phishing Scam Overview
Phishing messages trick businesses into paying millions yearly with increasingly realistic fake emails from company CFOs or vendors.
EvilTokens Takedown Announcement
Microsoft and Coinbase took down EvilTokens, a phishing network that defrauded real estate firms, banks, and healthcare providers.
AI-Powered Phishing Kit
EvilTokens sold an AI-powered phishing kit on Telegram that mapped trusted relationships and identified payment targets for fraud.
Phishing Campaign Mechanics
The kit bypassed two-factor authentication by directing victims to fake Microsoft or DocuSign pages with verification codes.
Arrest Details
Two men aged 32 and 38 were arrested by the Metropolitan Police on September 11 for fraud and money laundering.
Financial Impact
The perpetrators collected $1.1 million in cryptocurrency from over 700 distinct addresses between October 2025 and June 2026.
The headline
Microsoft and Coinbase arrested two men for running an AI phishing network that stole $1.1 million from businesses between October 2025 and June 2026.
