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Successful espionage usually relies on patience. Nation-state actors quietly infiltrate targets, maintain access for years, and gather intelligence without attracting attention.
But one threat actor has spent nearly a decade rewriting that playbook.
MuddyWater has built its reputation on aggressive and continuous retooling. With ties to Iran, the group’s ambitions have only grown bolder in the past year, setting its sight on rapid expansion and relentless technical evolution.
Hosts Gary Ruddell and former INTERPOL Cybercrime Director Craig Jones sit down with cybersecurity journalist Ravie Lakshmanan, who has spent years tracking the group[s evolution. Together, they explore the driving forces behind MuddyWater’s rapid expansion and evolution, discuss why state linked actors remain so difficult to disrupt, and how we can defend against an adversary that never stands still.
By understanding who these actors are and how they operate, you can better anticipate threats and protect yourself in an increasingly hostile digital world.




In this episode we explore the two front lines of the modern fraud economy.


In this episode we examine the implications of biometric theft, the future of digital identity in an AI driven world, and how we can rebuild trust where proving who we are online is becoming increasingly complex.


In this episode, Gary Ruddell and Craig Jones speak with payments, fraud, and cybersecurity expert Neira Jones about the criminal supply chain behind TX-NFC, why traditional fraud controls struggle to detect it, and how to protect money when proximity is no longer enough.