1. Domain like "abcde.teams.microsoft.com" has a CNAME that points to a domain like "abcde.microsoft-teams.com", but "microsoft-teams.com" is no longer registered to or controlled by Microsoft.
2. Hacker registers microsoft-teams.com, gets a LetsEncrypt SSL for it.
3. Send a message to someone with a GIF that was uploaded to "abcde.teams.microsoft.com". Teams thinks it's legit because it's a subdomain of "teams.microsoft.com", and SSL checks out, so it sends the user's auth token along with the HTTP request for the GIF. Problem is, it's sending it to the attacker controlled "abcde.microsoft-teams.com".
4. Since the hacker controls "abcde.microsoft-teams.com", they now have your auth token, which they can use to impersonate you.
Et voila, account takeover.
I'd bet that plenty of whitehats and blackhats have bots automatically crawling domains belonging to tech companies searching for subdomain takeover opportunities.