Expel Quarterly Threat Report, Q3 2025: Q3 by the numbers

Expel's Q3 2025 Quarterly Threat Report summarizes SOC investigations across customers: identity-based attacks dominated (73.9% of incidents), non-targeted malware accounted for ~15.4% (driven in part by BaoLoader), and cloud-infrastructure incidents were low overall but showed rising secret key exposures; the report emphasizes distinct attack surfaces and industry trends rather than a single targeted campaign.