This report highlights rising risks in the software supply chain, emphasizing that commercial binaries often contain hidden threats. Key trends include increasingly sophisticated supply chain attacks, state‑actor targeting of development environments, and heightened focus on vulnerabilities in crypto-related tools. Case studies like the XZ Utils backdoor and the JAVS compromise reveal tampering, malware insertion, and links to ransomware groups. The research underscores a central lesson: organizations must verify commercial binaries rather than trust them, as unpatched or opaque components introduce serious, often undetected cyber risk.

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