When MFA Isn’t Enough: Inside Adversary‑in‑the‑Middle Attacks
The Small Business Cyber Security Guy | Cybersecurity for SMB & Startups · 2026-01-05 · 39 min
Episode notes
In this episode Mauven McLeod and Graham Faulkner (with Noel Bradford joining partway through) unpack a worrying trend: adversary‑in‑the‑middle (AITM) attacks that steal session tokens and completely bypass conventional multi‑factor authentication (MFA). Using Microsoft’s recent telemetry (a 146% jump in AITM incidents) as a backdrop, they explain how transparent proxy phishing pages relay credentials and MFA approvals to capture session tokens and gain hours of unrestricted access to Microsoft 365 accounts. The hosts explain, in plain technical terms, why SMS codes, authenticator app push prompts and one‑time codes fail against these attacks and why the stolen session token becomes a single‑factor credential for attackers. They describe what attackers typically do after compromise — mailbox reconnaissance, forwarding rules, OAuth app persistence, and registering new authentication methods — and highlight the scale of automated phishing‑as‑a‑service tools that make these attacks cheap and fast.