The reach of Pegasus spyware is expanding beyond its known targets, now infiltrating the private sector at a scale far greater than previously understood. According to new findings from iVerify, a cybersecurity firm specializing in mobile device security, the zero-click spyware is not only targeting journalists and activists but also business executives across various industries.
Pegasus Found on Private Sector Phones
In December alone, iVerify detected Pegasus spyware on 11 of 18,000 devices tested. This follows earlier findings where the company identified 7 infections out of 3,000 scanned devices after launching its threat detection service in May. The results indicate that commercial spyware attacks are far more widespread than initially thought, with business leaders and government officials increasingly among the victims.
The affected individuals include executives from real estate, logistics, and finance, as well as a European government official. Those who disclosed their locations were found in Switzerland, Poland, Bahrain, Spain, the Czech Republic, and Armenia.
A Persistent Cyber Threat
Manufactured by NSO Group, an Israeli company, Pegasus has faced international scrutiny for years. Despite NSO’s claims that it only sells its spyware to governments for counterterrorism and criminal investigations, evidence continues to emerge that the technology is being deployed against private individuals, including journalists, human rights activists, and now corporate leaders.
What makes Pegasus especially dangerous is its ability to be installed without any interaction from the victim—a zero-click exploit that bypasses traditional security measures and allows total control over the infected device. This means attackers can access calls, messages, emails, and even activate cameras and microphones without the device owner ever realizing it.
How Are These Attacks Being Discovered?
iVerify offers a mobile security app that allows users to scan their phones for spyware. The app costs $1 to download and provides monthly scans for known commercial spyware threats. It relies on machine learning and forensic analysis to detect traces of infections, including identifying malware signatures and behavioral anomalies in devices.
The latest detections found Pegasus variants dating from 2021-2023, with some victims having been monitored for years. Many were targeted multiple times with different variants of the spyware, suggesting that they were persistent, high-value targets for whoever deployed the malware.
Business Leaders Now in the Crosshairs
The revelation that corporate executives are being targeted adds a new dimension to the global spyware crisis. Business leaders often have access to:
- Confidential corporate strategies
- Financial data
- High-level negotiations with government officials and private sector stakeholders
- Mergers, acquisitions, and deals that can impact stock markets
Until now, Pegasus was primarily associated with political surveillance—spying on journalists, dissidents, and opposition figures. However, these new cases indicate that corporate espionage may be an increasingly common use case for commercial spyware.
The World is Unprepared
According to iVerify co-founder Rocky Cole, a former NSA analyst, global security infrastructure is not equipped to handle the level of spyware infiltration occurring today.
“The world remains totally unprepared to deal with this from a security perspective,” Cole stated. “This stuff is way more prevalent than people think.”
In a shocking admission of vulnerability, iVerify also found that only half of the individuals whose phones tested positive for Pegasus had received Apple’s official threat notifications. This means that even high-profile spyware victims often remain completely unaware of their compromised devices.
More Than Just Pegasus
While this study focuses on Pegasus infections, iVerify also tests for other advanced spyware tools, including:
- Graphite (by Paragon)
- Reign (by QuaDream)
- Predator (by Intellexa)
This means that Pegasus is just the tip of the iceberg, and the full extent of state-sponsored and corporate espionage via commercial spyware remains unknown.
The Bottom Line: No One is Safe
Pegasus spyware is no longer just a political weapon—it is now a corporate and economic threat. The ability to secretly compromise business leaders’ devices gives attackers unprecedented access to sensitive financial and strategic data, threatening both individual privacy and global markets.
With spyware infections going largely undetected and security measures failing to keep up, it’s clear that no one is truly safe from this growing cyber menace.
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