
Three Buddy Problem
The Three Buddy Problem is a popular Security Conversations podcast that goes beyond industry talking points to discuss what others won’t -- nation-state malware, attribution, cyberwar, ethics, privacy, and the messy realities of securing computers and corporate networks.
Hosted by three veteran security pros -- journalist Ryan Naraine and malware paleontologists Costin Raiu and Juan Andres Guerrero-Saade -- the weekly show attracts a highly engaged audience of security researchers, corporate defenders, CISOs, and policymakers.
Connect with Ryan on Twitter (Open DMs).
Latest episodes

Jul 3, 2025 • 1h 34min
Who’s hacking who? Ivanti 0-days in France, China outs 'Night Eagle' APT
Dive into the latest cybersecurity revelations, highlighting France's exposure to Ivanti VPN zero-days and the intricate links to a North American threat actor known as 'Night Eagle.' Explore the complexities of cyber attribution, particularly amid geopolitical tensions and the reliability of threat intelligence from different regions. The hosts also discuss significant breaches, like Iran's Nobitex crypto-exchange hack, and ponder the implications of containment claims surrounding China's 'Salt Typhoon.' It's a fascinating look at the evolving landscape of cyber threats!

22 snips
Jun 20, 2025 • 3h 7min
Israel-Iran cyberwar: Predatory Sparrow, vanishing crypto, destructive bank hacks
Hamid Kashfi, a former researcher at Immunity/Trail of Bits with expertise in the Iran-Israel cyber conflict, joins the discussion. They delve into the shadowy group Predatory Sparrow and its cyber operations during the Israel-Iran war. The conversation covers a shocking $90 million cryptocurrency disappearance linked to hacktivism, the human impact of ATM outages, and the blurred lines between grassroots cyber activism and state-sponsored attacks. Kashfi offers on-the-ground insights into Iran's cyber capabilities amid ongoing geopolitical tensions.

15 snips
Jun 13, 2025 • 1h 52min
Cyber flashpoints in Israel-Iran war, the 'magnet of threats', Mossad drone swarms
Delve into the cyber battlefield between Israel and Iran, where explosive drone swarms meet advanced hacking threats. Discover the 'magnet of threats' server in Iran that's drawing attention from multiple nation-states. Get insights into zero-day exploits and the implications of recent spyware targeting journalists. Explore the risks of de-anonymization in Android devices and how innovative solutions like Tailscale are reshaping digital security. This engaging discussion intertwines geopolitics with the latest in cybersecurity advancements.

Jun 6, 2025 • 1h 29min
Mikko Hypponen talks drone warfare, APT naming schemes
Mikko Hypponen, a cybersecurity veteran and Chief Research Officer at Sensofusion, dives into the cutting-edge world of drone warfare. He discusses Ukraine's innovative Operation Spiderweb, where drone swarms targeted Russian airbases, highlighting the changing landscape of military strategy. The conversation also touches on the ethical implications of autonomous drones and the challenges of naming cyber threats. With insights into the cyber tactics employed in the Ukraine-Russia conflict, Hypponen shares a unique perspective on the intersection of technology and modern warfare.

57 snips
May 30, 2025 • 2h 11min
The dark hole of 'friendlies' and Western APTs
The podcast dives into the complexities of cyber threat intelligence, spotlighting the controversial naming of actors like 'Void Blizzard' and the resulting confusion. It examines the significant role of initial-access brokers in nation-state breaches and critiques the decline of transparency in reporting Western APTs. The hosts discuss the potential of AI in identifying software vulnerabilities and its implications for cybersecurity professionals. They also highlight the necessary collaboration between the public and private sectors to tackle evolving threats.

31 snips
May 23, 2025 • 2h 31min
Russia hacks Ukraine war supply lines, Signal blocks Windows screenshots, BadSuccessor vuln disclosure debate
Exploring the intricate web of cyber warfare, the discussion highlights Russia's hacking of Ukraine's supply lines and a controversial vulnerability disclosure by Akamai. The conversation shifts to Signal's new screenshot-blocking feature, aimed at enhancing user privacy amid growing concerns. A fascinating debate unfolds over the ethics of exploit code publication and its implications for defenders in cybersecurity. Additionally, Japan's shift towards offensive cyber defense raises eyebrows, alongside discussions on the role of tech giants in shaping future governance.

4 snips
May 16, 2025 • 2h 24min
A Coinbase breach with bribes, rogue contractors and a $20M ransom demand
Three Buddy Problem - Episode 46: We dig into a Coinbase breach headlined by bribes, rogue contractors and a $20 million ransom demand. Plus, (another!) batch of Ivanti and Microsoft zero-days being exploited in the wild, a new 'Intrusion Logging' feature coming to Android, Apple's iOS 18.5 patches, and the EU announcing its own vulnerability database and software vendor secure-coding pledge.
Cast: Juan Andres Guerrero-Saade, Ryan Naraine and Costin Raiu.Links:Transcript (unedited, AI-generated)Coinbase on $20m ransom demandSEC filing on Coinbase breachCoinbase Rogue Contractors Bribed to Leak Customer DataIvanti 0day exploit chain (CVE-2025-4427 and CVE-2025-4428)Watchtowr blog on new Ivanti 0daysCISA Known Exploited Vulnerabilities (KEV)'Advanced Protection' comes to Android 16Europe launches it own vulnerability database

35 snips
May 9, 2025 • 31min
JAGS keynote: The intricacies of wartime cyber threat intelligence
Juan Andres Guerrero-Saade, a security researcher at SentinelOne and an adjunct at the Alperovich Institute, offers deep insights into wartime cyber threat intelligence. He emphasizes its crucial role in bridging information gaps between adversaries, especially highlighted by the Ukraine-Russia conflict. The conversation delves into the ethical challenges faced by cybersecurity professionals and the moral responsibilities tied to intelligence-sharing. Guerrero-Saade urges the audience to reflect on the real-world implications of their work, making a case for deeper self-awareness in the field.

46 snips
May 3, 2025 • 2h 39min
Signalgate redux, OpenAI's Aardvark, normalizing cyber offense
Delve into the intriguing use of an obscure app by US officials to archive Signal messages and the implications for privacy. Discover OpenAI's innovative Aardvark model aimed at enhancing software security through bug detection. Explore the shifting landscape of US offensive cyber strategies and the potential for organizations to go on the offensive as part of deterrence. Unpack the complexities surrounding a significant $330 million Bitcoin heist and the rising tensions over cybersecurity, disinformation, and political influences in Romania.

13 snips
Apr 25, 2025 • 1h 34min
Thomas Rid joins the show: AI consciousness, TP-Link's China connection, trust in hardware security
Three Buddy Problem - Episode 43: Director of the Alperovitch Institute for Cybersecurity Studies Thomas Rid joins the show for a deep-dive into the philosophical and ethical considerations surrounding AI consciousness and anthropomorphism. We dig into the multifaceted implications of AI technology, particularly focusing on data privacy, national security, and the philosophical questions surrounding AI consciousness and rights.
Plus, TP-Link under US government investigation and the broader issues of consumer trust in hardware security, the need for regulation and inspectability of technology, and the struggles with patching network devices.
Cast: Thomas Rid, Juan Andres Guerrero-Saade and Ryan Naraine. Costin Raiu is away this week.Links:Transcript (unedited, AI-generated)Anthropic: Exploring AI model welfare, consciousnessDavid Chalmers: Taking AI Welfare SeriouslySam Altman: AI privacy safeguards can’t be established before ‘problems emerge’TP-Link router pricing and China ties under US gov probeBloomberg: TP-Link’s US Future Hinges on Claimed Split From ChinaVerizon DBIR 2015 (full report)Mandiant M-Trends 2025 ReportFBI seeking tips about China's 'Salt Typhoon' hackersNorth Korean Cryptocurrency Thieves Caught Hijacking Zoom ‘Remote Control’ FeatureDan Geer on the realpolitik of cybersecurityLABScon 2025 CFP is openRansom War by Max Smeets