BigBear 2.0 and the PhaaS Economy

BigBear 2.0 is a mature phishing-as-a-service that uses Evilginx2-style adversary-in-the-middle proxies, session-cookie theft, residential proxies, Telegram automation, and a multi-tenant affiliate model to capture Microsoft 365 credentials and authenticated sessions at scale; CloudSEK's access to the live panel showed thousands of credentials and session cookies, hundreds of MFA-bypass authentications, and wide-ranging, replaceable infrastructure—defenders are advised to prioritize phishing-resistant authentication, full-session revocation, campaign-level visibility, and rapid disruption metrics.