The "Phantom Squad" is a copycat group that claims it will take down Xbox Live or PlayStation Network (PSN), much like Lizard Squad did last year on Christmas Day. The Phantom Squad claim that they are not affiliated with Lizard Squad at all and vow to take down Xbox Live and PSN for the full week during the Christmas holiday.
Lizard Squad was so effective in disrupting Xbox Live and PSN that Kim Dotcom stepped in to stop Lizard Squad from attacking both networks by offering an undisclosed amount of lifetime Mega memberships with 500GB of storage. I would hope that Microsoft put some extra money into its Xbox Live network security so that the same thing won't happen again.
— Kim Dotcom (@KimDotcom) December 14, 2015
Last year's Lizard Squad fiasco and why they brought down Xbox Live and PSN was a definite black eye for Microsoft, as the Xbox One was (still is) trying to catch up to the PlayStation 4 in sales. There is no response on the possibility of any attacks as Lizard Squad's Twitter account is suspended, and several suspected Lizard Squad members were arrested and some convicted after the Christmas Day DDoS attack. It will likely have to remain a rumor at this point as Phantom Squad claimed yesterday that they took down Reddit, but no such outage was reported.