Voice-based phishing, a form of social engineering where attackers call employees or IT help desks under false pretenses in an attempt to gain access to victim networks, surged in 2025, Mandiant said Monday in its annual M-Trends report.
These points of intrusion, which have been a hallmark of attacks attributed to members of the cybercrime collective The Com, including offshoots such as Scattered Spider, accounted for 11% of all incidents Mandiant investigated last year.
Exploited vulnerabilities remained the top initial access vector for the sixth-consecutive year, giving attackers footholds in 32% of all incidents last year, the company said. Yet, the rise of voice phishing marks a concerning shift in tactics, especially in large-scale attacks with sweeping impacts.
“This type of social engineering attack is extremely powerful. It is more time consuming, obviously it requires skills and impersonation skills that the threat actors need to have, especially when they contact their IT help desk,” Jurgen Kutscher, vice president at Mandiant, told CyberScoop. “We’ve clearly seen several threat actors being very specialized and very successful with this type of attack.”
Voice-based phishing was at the root of multiple attack sprees Mandiant responded to last year, including campaigns targeting Salesforce customers attributed to threat groups Google Threat Intelligence Group tracks as UNC6040 and UNC6240.
This global shift in attacks was most clearly seen in the sharp drop in email-based phishing., For years, phishing has been a popular method because it’s cheap and requires little technical skill. It works much like high-volume advertising — a spray-and-pray strategy focused on reaching as many people as possible rather than specific targeting.
Email phishing is no longer a top initial access vector, according to Mandiant. The incident response firm said it was only responsible for 6% of intrusions last year, down from 14% in 2024 and 22% in 2022.
“The higher the investment, the higher the payout needs to be,” Kutscher said. “[Interactive phishing] takes a significant amount of time and investment. So as an attacker, you’ve got to do that when you believe that there’s a significant return.”
These techniques are difficult to defend against because they’re designed to exploit human instincts and bypass many security controls. “We’ve always said, unfortunately the human tends to be the weakest link,” Kutscher said.
Social engineering, of course, wasn’t the only way attackers gained access to victim networks last year. Exploited defects remain a persistent problem.
The top three vulnerabilities Mandiant observed as the initial access vector in 2025 include CVE-2025-31324 in SAP NetWeaver, CVE-2025-61882 in Oracle E-Business Suite and CVE-2025-53770 in Microsoft SharePoint.
Attackers of various origins and objectives exploited all three of the vulnerabilities en masse and as zero-days.
Mandiant clocked 500,000 combined hours of incident response investigations globally last year, up from 450,000 hours in 2024.
Technology companies were the most frequently attacked in 2025, accounting for 17% of all incidents. The following most-targeted industries included finance at 14.6%, business and professional services at 13.3% and health care at 11.9%.
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