Anatomy of a Breach

Anatomy of a Breach: Dropbox — Phishing Attack Exposes 130 Source Code Repositories

> series: anatomy_of_a_breach —— part: 167 —— target: dropbox —— repos: 130 —— method: circleci_phishing —— stolen: source_code_api_keys<span class="cursor-blink">_</span>_

Hedgehog Security 30 November 2022 11 min read

A fake CircleCI login page. One employee's credentials. 130 source code repositories.

In November 2022, Dropbox disclosed that a phishing attack had compromised an employee's GitHub credentials by impersonating CircleCI — a CI/CD platform that Dropbox uses in its development pipeline. The employee received a convincing email appearing to come from CircleCI, clicked the link, and entered their GitHub username, password, and hardware authentication key on a fake login page. The attacker used the stolen credentials to access 130 of Dropbox's private GitHub repositories.

The compromised repositories contained copies of third-party libraries modified for Dropbox's use, internal prototypes, configuration files, and some data used by the security team — including employee names, email addresses, and a small number of customer email addresses. API keys were also exposed. Dropbox confirmed that no customer content, passwords, or payment information was accessed. The attack was part of a broader phishing campaign impersonating CircleCI that targeted multiple organisations — exploiting the trust developers place in their CI/CD pipeline tools.


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Impersonating the tools developers trust. The new phishing frontier.

CI/CD Pipeline as Phishing Lure
The attackers impersonated CircleCI — a tool developers interact with daily and trust implicitly. Phishing that targets developer tools (GitHub, CircleCI, Jenkins, GitLab) exploits the trust relationship between developers and their build pipeline. Our <a href="/penetration-testing/social-engineering">social engineering assessments</a> include developer-targeted phishing scenarios.
Hardware Key Captured by Phishing Page
The employee entered their hardware authentication key response on the phishing page — demonstrating that even hardware-backed MFA can be captured through sophisticated real-time phishing (the phishing page relays the MFA challenge in real-time). Only FIDO2/WebAuthn-based authentication — which cryptographically verifies the domain — resists this relay attack. <a href="/cyber-essentials">Cyber Essentials Danzell</a> addresses phishing-resistant MFA.
Source Code Exposure — Again
Dropbox joined <a href="/blog/anatomy-of-a-breach-twitch">Twitch</a> (2021), <a href="/blog/anatomy-of-a-breach-lapsus">Microsoft/Samsung (Lapsus$)</a> (2022), and <a href="/blog/anatomy-of-a-breach-nhs-advanced-lastpass">LastPass</a> (2022) in suffering source code exposure — a growing trend as attackers target developer infrastructure. Our <a href="/penetration-testing/infrastructure">infrastructure testing</a> assesses source code repository security.
Domain-Bound MFA Is Essential
The Dropbox breach proved that MFA methods vulnerable to real-time phishing relay (including TOTP and hardware OTP) can be bypassed. Only domain-bound authentication (FIDO2 passkeys, WebAuthn) provides true phishing resistance — the authentication is cryptographically bound to the legitimate domain and cannot be relayed. <a href="https://www.socinabox.co.uk">SOC in a Box</a> monitors for anomalous repository access patterns.

Developer tools are phishing targets. FIDO2 is the only answer.

The Dropbox breach demonstrated that developer-targeted phishing — impersonating trusted CI/CD tools — can bypass even hardware-backed MFA through real-time relay attacks. The only MFA method that fully resists this attack is FIDO2/WebAuthn, which cryptographically binds authentication to the legitimate domain. Cyber Essentials Danzell addresses phishing-resistant MFA. Our social engineering testing includes developer-targeted phishing. Infrastructure testing assesses source code repository security. SOC in a Box monitors for anomalous code repository access. And UK Cyber Defence provides incident response when developer infrastructure is compromised.


A fake CircleCI page captured Dropbox developer credentials — including hardware MFA. Is your dev pipeline secured?

<a href="/penetration-testing/social-engineering">Social engineering testing</a> targets developers. <a href="/cyber-essentials">Cyber Essentials</a> addresses phishing-resistant MFA. <a href="/penetration-testing/infrastructure">Infrastructure testing</a> secures code repositories.

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