TA2723 is a financially-motivated, high-volume credential phishing threat actor known for spoofing Microsoft OneDrive, LinkedIn, and DocuSign. Proofpoint Threat Research has observed TA2723 conducting OAuth device code phishing campaigns, utilizing tools like Squarephish and Graphish to enhance their operations. The use of these tools allows TA2723 to mitigate the short-lived nature of device codes, facilitating larger campaigns. Successful attacks can lead to M365 account takeover, data exfiltration, and lateral movement.