Mandiant responded to multiple incidents in 2026 in which threat actors hijacked enterprise access to Large Language Models (LLMs), a tactic known as "LLMJacking," impacting organizations in North America, South America, and Asia Pacific across the financial services, retail, technology, and transportation sectors. Unlike cryptojacking, LLMJacking can generate large spikes in fraudulent cloud charges in a matter of hours, with fraudulent charges exceeding $100,000 USD in a single day in individual incidents and cumulative charges at some organizations reaching $1 million USD before access was revoked. Google Threat Intelligence Group (GTIG) identified financially motivated threat clusters operating out of multiple regions globally and is tracking a division of labor between actors establishing initial access and operators managing downstream monetization infrastructure known as "LLM Mixers," which function as illicit routing gateways that proxy, aggregate, and resell unauthorized LLM access to underground subscribers. In one investigation, GTIG observed two distinct operational clusters coordinating to compromise and monetize enterprise LLM infrastructure. Threat actors bypass front-end interfaces to target backend model resources directly, focusing on identifying publicly exposed LLM endpoints or obtaining valid LLM API keys, as seen where a threat actor used an automated script to verify exposure by calling the /api/create endpoint to run their own models on publicly accessible endpoints.