You’re sipping your morning coffee, scanning through emails, when one in particular catches your eye. It’s from your “IT department,” warning that your account will be locked unless you update your password immediately. There’s even a helpful link to fix it. You’re busy, but it looks legit, so you click. Boom - you’ve just fallen for a phishing attack.
Phishing attacks aren’t just annoying: they’re evolving into dangerous, high-stakes scams targeting everyone from everyday internet users to billion-dollar corporations and government agencies. Over the last five years, they’ve scaled to unprecedented levels, proving that no organization is too big or secure to fall victim.
In this blog, we’ll unpack the biggest phishing attacks from 2019 to 2024, showing how they worked, what they cost, and why they succeeded. We’ll also take a closer look at what's lurking in 2025 and what you can do to stay safe.
While we all like to think we’d spot a phishing email a mile away, reality tells a different story. Even the sharpest minds and most secure organizations have fallen for scams they never saw coming. Fear, urgency, curiosity—they’re all buttons scammers know how to push with frightening accuracy.
In fact, some of the most catastrophic cyberattacks in recent history began with nothing more than a single misplaced click. A rushed decision. An email opened without a second thought. And the consequences? Staggering financial losses, stolen data, and damage that takes years to rebuild. Now let’s review some really jaw-dropping examples from the past five years.
One of the most infamous cyberattacks in recent memory, the SolarWinds breach, shook the cybersecurity world. SolarWinds, a U.S.-based IT management software provider, became the unsuspecting entry point for one of the most sophisticated cyber espionage campaigns ever seen.
The attack began when threat actors embedded malicious code, later named Sunburst, into a legitimate update for SolarWinds’ Orion software. Over 18,000 organizations, including U.S. federal agencies and Fortune 500 companies, unknowingly downloaded the compromised update. For months, attackers had undetected access to sensitive systems, stealing data and laying the groundwork for future breaches.
This attack highlighted a glaring weakness in global cybersecurity infrastructure: trusted software updates aren’t immune to exploitation. Faster detection could have reduced the damage, but the scale of this breach confirmed the need for vigilance at every level.
In July 2021, the Republican National Committee (RNC) found itself in the crosshairs of Cozy Bear, a Russian-affiliated hacking group linked to the SVR. Hackers infiltrated accounts tied to the RNC using a third-party IT provider called Synnex.
While the attack was detected early, its implications were chilling. The RNC is a high-profile political organization, making it a prime target for espionage and disruption. The attackers likely sought to exfiltrate sensitive information, including internal communications and strategies.
This breach demonstrated how even well-protected organizations are vulnerable when third-party vendors are compromised. The lesson? Your security is only as strong as your weakest link.
March 2022 brought one of the largest cryptocurrency heists in history. During this especially brazen attack, cybercriminals breached the Ronin Network, a blockchain bridge powering the popular game Axie Infinity. The Lazarus Group, a hacking syndicate linked to North Korea, stole an eye-watering $620 million in cryptocurrency.
The attack exploited weaknesses in Ronin’s validator nodes, which approve network transactions. By compromising five of nine validators, attackers gained control and authorized fake withdrawals of 173,600 ETH and 25.5 million USDC.
This breach shook trust in decentralized finance (DeFi) systems and exposed the risks of over-reliance on a small number of validators. It also highlighted the critical need for real-time monitoring to detect and stop suspicious activity before it spirals out of control.
In 2023, the Cl0p ransomware gang executed a massive attack by exploiting a zero-day vulnerability in MOVEit Transfer, a widely used file transfer tool. This breach impacted major organizations globally, including the BBC, British Airways, and the New York City Department of Education.
Cl0p’s approach was calculated and precise. Instead of encrypting systems outright, they focused on data exfiltration, stealing sensitive information to gain leverage during ransom negotiations. The financial toll was staggering, with estimated damages between $75 and $100 million.
This attack was a wake-up call for businesses relying on third-party tools. Regular updates and patch management aren’t merely routine maintenance - they’re important defenses against attacks.
The Lazarus Group struck again in 2024 by executing a series of cryptocurrency heists that netted approximately $659 million. Targeting platforms like WazirX and DMM Bitcoin, these hackers exploited vulnerabilities in security systems and tricked employees through phishing schemes.
The group siphoned funds to wallets under their control by leveraging impersonation tactics and bypassing access controls. These incidents emphasize the growing sophistication of phishing attacks in the cryptocurrency sector, where even small lapses in security can have massive consequences.
As we look ahead to 2025, AI-driven cyberattacks loom large on the horizon. Malicious actors are increasingly leveraging AI to craft highly convincing phishing emails and automate attacks at scale. This new wave of phishing goes beyond poorly written messages with generic greetings: it’s personal, precise, and terrifyingly realistic.
Imagine receiving an email from your boss that not only looks authentic but also includes a deepfake voice message urging you to act immediately. Or a phishing scam that adjusts its tone and language based on real-time data about its target. AI makes these scenarios not just possible but likely.
Businesses must prepare now to counter this next wave of phishing threats. Investing in cutting-edge detection tools and employee training is no longer optional: it’s survival 101. Your team needs to understand how these attacks work, spot the subtle red flags, and act to avoid falling victim. The question isn’t if your business will be targeted, but when: and preparation is the only way to ensure you’re ready.
The phishing attacks highlighted here prove that no organization is immune to cyber threats. But here’s the good news: preparation works. Jericho Security offers state-of-the-art training programs that equip your employees to recognize and stop phishing attempts before they cause harm.
Our AI-driven platform empowers businesses to stay ahead of emerging threats while making cybersecurity training engaging and effective. Don’t let your company become the next headline: book your demo today.