Report: There Are Nearly 66 Billion Stolen Identity Records on Criminal Forums

SpyCloud researchers report a 23% year-over-year increase in stolen identity records (65.7 billion in 2025), attributing the growth to phishing, infostealer malware, third-party breaches, and combo lists. The briefing warns that phishing-as-a-service (PhaaS), MFA-bypass tools, and AI-driven personalization have democratized sophisticated attacks, making phishing the predominant initial access vector for account takeover and ransomware, with nearly half of phished identities being corporate.