Lapsus$ is an extortion-focused cybercrime actor best characterized by identity- and workflow-centered intrusion paths. Public reporting emphasizes credential theft, helpdesk and contractor social engineering, telecom number takeovers that undermine SMS-based MFA, and rapid abuse of password reset and MFA enrollment processes. Once privileged access is obtained, the actor moves quickly to steal source code and sensitive documentation for extortion leverage, and in some cases destructive actions have been reported. Defensive priority is phishing-resistant MFA, hardened recovery and helpdesk processes, and detection of identity anomalies leading to mass repository access.