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According to Microsoft’s Digital Defense Report 2022, nation-state threat activities from Russia, Iran, North Korea, and China have increased since the start of the Ukrainian conflict.
The new threat detailed by Microsoft has marketed itself in the past as a threat intelligence operation supporting tech, retail, financial and energy clientele. In practice, the company has been linked to sales of espionage malware, with media reports the group has marketed its "Subzero" malware to the Kremlin.