[1] https://www.futurex.com/download/excrypt-ssp-enterprise-v-2-...
[1] https://www.futurex.com/download/excrypt-ssp-enterprise-v-2-...
That way, the HSM only needs to do one transaction per hour per auth server. If auth tokens need to be valid for 24 hours, then the certificates from the HSM need to be valid for about 25 hours (plus some leeway for refresh delays maybe).
If someone compromises the auth server and gets the private key (or gets in a position to request a cert from the HSM), then it is still quite bad in the sense that they have up to 25 hours to exploit it. But if this is only one of many controls, it still provides significant defence in depth, and cuts off certain types of attacks, especially for APTs who might not have any available TTPs to gain persistence in a highly secure auth server environment and who only briefly manage to gain access or get access to stale information as in this case.
It's probably a better idea to pursue short lived private keys, rather than HSMs. If the timeline is accurate, the key was saved in a crash dump in 2021 and used for evil in 2023, monthly or quarterly rotation would have made the key useless in the two year period.
A certificate chain is a little too long to include in access tokens, IMHO, but I don't know how Microsoft's auth systems work.
The key expired in April 2021. Short lived keys only work if you actually check for expiry, which it appears they weren't doing.