Statistics across all threats

The percentage of ICS computers on which malicious objects were blocked has been decreasing since the beginning of 2024. In Q4 2025, it was 19.7%. Over the past three years, the percentage has decreased by 1.36 times, and by 1.25 times since Q4 2023.

Regionally, in Q4 2025, the percentage of ICS computers on which malicious objects were blocked ranged from 8.5% in Northern Europe to 27.3% in Africa.

Four regions saw an increase in the percentage of ICS computers on which malicious objects were blocked. The most notable increases occurred in Southern Europe and South Asia. In Q3 2025, East Asia experienced a sharp increase triggered by the local spread of malicious scripts, but the figure has since returned to normal.

Feature of the quarter: worms in email

In Q4 2025, the percentage of ICS computers on which wormsinemailattachments were blocked increasedinallregions of the world.

Many of the blocked threats were related to the worm Backdoor.MSIL.XWorm. This malware is designed to persist on the system and then remotely control it.

Interestingly, this threat was not detected on ICS computers in the previous quarter, yet it appeared in all regions in Q4 2025.

A study found that the active spread of Backdoor.MSIL.XWorm via phishing emails was likely linked to the use by hackers of another malware obfuscation technique that was actively used during massive phishing campaigns in Q4 2025. These campaigns have been known since 2024 as “Curriculum-vitae-catalina”.

The attackers distributed phishing emails to HR managers, recruiters, and employees responsible for hiring. The messages were disguised as responses from job applicants with subjects such as “Resume” or “Attached Resume” and contained a malicious executable file under the guise of a curriculum vitae. Typically, the file was named Curriculum Vitae-Catalina.exe. When executed, it infected the system.

In Q4 2025, the threat spread across regions in two waves — one in October and another in November. Russia, Western Europe, South America, and North America (Canada) were attacked in October. A spike in Backdoor.MSIL.XWorm blocking was observed in other regions in November. The attack subsided in all regions in December.

The highest percentage of ICS computers on which Backdoor.MSIL.XWorm was blocked was observed in regions where threats from email clients had been historically blocked at high rates on ICS computers: Southern Europe, South America, and the Middle East.

At the same time, in Africa, where USB storage media are still actively used, the threat was also detected when removable devices were connected to ICS computers.

Selected industries

The biometrics sector has historically led the rankings of industries and OT infrastructures surveyed in this report in terms of the percentage of ICS computers on which malicious objects were blocked.

These systems are characterized by accessibility to and from the internet, as well as minimal cybersecurity controls by the consumer organization.

In Q4 2025, the percentage of ICS computers on which malicious objects were blocked increased only in one sector: oil and gas. The corresponding figures increased in two regions: Russia, and Central Asia and the South Caucasus.

However, if we look at a broader time span, there is a downward trend in all the surveyed industries.

Diversity of detected malicious objects

In Q4 2025, Kaspersky protection solutions blocked malware from 10,142 different malware families of various categories on industrial automation systems.

In Q4 2025, there was an increase in the percentage of ICS computers on which worms, and miners in the form of executable files for Windows were blocked. These were the only categories that exhibited an increase.

Main threat sources

Depending on the threat detection and blocking scenario, it is not always possible to reliably identify the source. The circumstantial evidence for a specific source can be the blocked threat’s type (category).

The internet (visiting malicious or compromised internet resources; malicious content distributed via messengers; cloud data storage and processing services and CDNs), email clients (phishing emails), and removable storage devices remain the primary sources of threats to computers in an organization’s technology infrastructure.

In Q4 2025, the percentage of ICS computers on which malicious objects from various sources were blocked decreased. All sources except email clients saw their lowest levels in three years.

The same computer can be attacked by several categories of malware from the same source during a quarter. That computer is counted when calculating the percentage of attacked computers for each threat category, but is only counted once for the threat source (we count unique attacked computers). In addition, it is not always possible to accurately determine the initial infection attempt. Therefore, the total percentage of ICS computers on which various categories of threats from a certain source were blocked can exceed the percentage of computers affected by the source itself.

• In Q4 2025, the percentage of ICS computers on which threats from the internet were blocked decreased to 7.67% and reached its lowest level since the beginning of 2023. The main categories of internet threats are malicious scripts and phishing pages, and denylisted internet resources. The percentage ranged from 3.96% in Northern Europe to 11.33% in South Asia.
• The main categories of threats from email clients blocked on ICS computers were malicious scripts and phishing pages, spyware, and malicious documents. Most of the spyware detected in phishing emails was delivered as a password archive or a multi-layered script embedded in office document files. The percentage of ICS computers on which threats from email clients were blocked ranged from 0.64% in Northern Europe to 6.34% in Southern Europe.
• The main categories of threats that were blocked when removable media was connected to ICS computers were worms, viruses, and spyware. The percentage of ICS computers on which threats from removable media were blocked ranged from 0.05% in Australia and New Zealand to 1.41% in Africa.
• The main categories of threats that spread through network folders in Q4 2025 were viruses, AutoCAD malware, worms, and spyware. The percentage of ICS computers on which threats from network folders were blocked ranged from 0.01% in Northern Europe to 0.18% in East Asia.

Threat categories

Typical attacks blocked within an OT network are multi-step sequences of malicious activities, where each subsequent step of the attackers is aimed at increasing privileges and/or gaining access to other systems by exploiting the security problems of industrial enterprises, including OT infrastructures.

Malicious objects used for initial infection

In Q4 2025, the percentage of ICS computers on which denylisted internet resources were blocked decreased to 3.26%. This is the lowest quarterly figure since the beginning of 2022, and it has decreased by 1.8 times since Q2 2025.

Regionally, the percentage of ICS computers on which denylisted internet resources were blocked ranged from 1.74% in Northern Europe to 3.93% in Southeast Asia, which displaced Africa from first place. Russia rounded out the top three regions for this indicator.

The percentage of ICS computers on which malicious documents were blocked increased for three consecutive quarters. However, in Q4 2025 it decreased by 0.22 pp to 1.76%.

Regionally, the percentage ranged from 0.46% in Northern Europe to 3.82% in Southern Europe. In Q4 2025, the indicator increased in Eastern Europe, Russia, and Western Europe.

The percentage of ICS computers on which malicious scripts and phishing pages were blocked decreased to 6.58%. Despite the decline, this category led the rankings of threat categories in terms of the percentage of ICS computers on which they were blocked.

Regionally, the percentage ranged from 2.52% in Northern Europe to 10.50% in South Asia. The indicator increased in South Asia, South America, Southern Europe, and Africa. South Asia saw the most notable increase, at 3.47 pp.

Next-stage malware

Malicious objects used to initially infect computers deliver next-stage malware — spyware, ransomware, and miners — to victims’ computers. As a rule, the higher the percentage of ICS computers on which the initial infection malware is blocked, the higher the percentage for next-stage malware.

In Q4 2025, the percentage of ICS computers on which spyware, ransomware and web miners were blocked decreased. The rates were:

• Spyware: 3.80% (down 0.24 pp). For the second quarter in a row, spyware took second place in the rankings of threat categories in terms of the percentage of ICS computers on which it was blocked.
• Ransomware: 0.16% (down 0.01 pp).
• Web miners: 0.24% (down 0.01 pp), this is the lowest level observed thus far in the period under review.

The percentage of ICS computers on which miners in the form of executable files for Windows were blocked increased to 0.60% (up 0.03 pp).

Self-propagating malware

Self-propagating malware (worms and viruses) is a category unto itself. Worms and virus-infected files were originally used for initial infection, but as botnet functionality evolved, they took on next-stage characteristics.

To spread across ICS networks, viruses and worms rely on removable media and network folders and are distributed in the form of infected files, such as archives with backups, office documents, pirated games and hacked applications. In rarer and more dangerous cases, web pages with network equipment settings, as well as files stored in internal document management systems, product lifecycle management (PLM) systems, resource management (ERP) systems and other web services are infected.

In Q4 2025, the percentage of ICS computers on which worms were blocked increased by 1.6 times to 1.60%. As mentioned above, this increase is related to a global phishing attack that spread the Backdoor.MSIL.XWorm backdoor worm across all regions of the world. The percentage increased in all regions. The biggest increase (up by 2.16 times) was in Southern Europe. The malware was primary distributed through email clients, and Southern Europe led the way in terms of the percentage of ICS computers on which threats from email clients were blocked.

The percentage of ICS computers on which viruses were blocked decreased to 1.33%.

AutoCAD malware

This category of malware can spread in a variety of ways, so it does not belong to a specific group.

After an increase in the previous quarter, the percentage of ICS computers on which AutoCAD malware was blocked decreased to 0.29% in Q4 2025.

For more information on industrial threats see the full version of the report.

In 2025, the financial cyberthreat landscape continued to evolve. While traditional PC banking malware declined in relative prevalence, this shift was offset by the rapid growth of credential theft by infostealers. Attackers increasingly relied on aggregation and reuse of stolen data, rather than developing entirely new malware capabilities.

To describe the financial threat landscape in 2025, we analyzed anonymized data on malicious activities detected on the devices of Kaspersky security product users and consensually provided to us through the Kaspersky Security Network (KSN), along with publicly available data and data on the dark web.

We analyzed the data for

• financial phishing,
• banking malware,
• infostealers and the dark web.

Key findings

Phishing

Phishing activity in 2025 shifted toward e-commerce (14.17%) and digital services (16.15%), with attackers increasingly tailoring campaigns to regional trends and user behavior, making social engineering more targeted despite reduced focus on traditional banking lures.

Banking malware

Financial PC malware declined in prevalence but remained a persistent threat, with established families continuing to operate, while attackers increasingly prioritize credential access and indirect fraud over deploying complex banking Trojans. To the contrary, mobile banking malware continues growing, as we wrote in detail in our mobile malware report.

Infostealers and the dark web

Infostealers became a central driver of financial cybercrime, fueling a growing dark web economy where stolen credentials, payment data, and full identity profiles are traded at scale, enabling widespread and destructive fraud operations.

Financial phishing

In 2025, online fraudsters continued to lure users to phishing and scam pages that mimicked the websites of popular brands and financial organizations. Attackers leveraged increasingly convincing social engineering techniques and brand impersonation to exploit user trust. Rather than relying solely on volume, campaigns showed greater targeting and contextual adaptation, reflecting a maturation of phishing operations.

The distribution of top phishing categories in 2025 shows a clear shift toward digital platforms that aggregate multiple user activities, with web services (16.15%), online games (14.58%), and online stores (14.17%) leading globally. Compared to 2024, the rise of online games and the decline of social networks and banks indicate that attackers are increasingly targeting environments where users are more likely to take a risk or engage impulsively. Categories such as instant messaging apps and global internet portals remain significant phishing targets, reflecting their role as communication and access hubs that can be exploited for credential harvesting.

TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices, 2025 (download)

Regional patterns further reinforce the adaptive nature of phishing campaigns, showing that attackers closely align category targeting with local digital habits. For example, online stores dominate heavily in the Middle East.

TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in the Middle East, 2025 (download)

Online games and instant messaging platforms feature more prominently in the CIS, suggesting a focus on younger or highly connected user bases.

TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in the CIS, 2025 (download)

APAC demonstrates almost equal shares of online games and banks which signifies a combined approach targeting different users.

TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in APAC, 2025 (download)

In Africa, a stronger emphasis on banks reflects the continued importance of traditional financial services. Most likely, this is due to the lower security level of the financial institutions in the region.

TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Africa, 2025 (download)

Whereas in LATAM, delivery companies appearing in the top categories indicate attackers exploiting the growth of e-commerce logistics.

TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Latin America, 2025 (download)

Europe presents a more balanced distribution across categories, pointing to diversified attack strategies.

TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Europe, 2025 (download)

Attackers actively localize their tactics to maximize relevance and effectiveness.

The distribution of financial phishing pages by category in 2025 reveals strong regional asymmetries that reflect both user behavior and attacker prioritization.

Globally, online stores dominated (48.45%), followed by banks (26.05%) and payment systems (25.50%). The decline in bank phishing may suggest that these services are becoming increasingly difficult to successfully impersonate, so fraudsters are turning to easier ways to access users’ finances.

However, this balance shifts significantly at the regional level.

In the Middle East, phishing is overwhelmingly concentrated on e-commerce (85.8%), indicating a heavy reliance on online retail lures, whereas in Africa, bank-related phishing leads (53.75%), which may indicate that user account security there is still insufficient. LATAM shows a more balanced distribution but with a higher share of online store targeting (46.30%), while APAC and Europe display a more even spread across all three categories, pointing to diversified attack strategies. These variations suggest that attackers are not operating uniformly but are instead adapting campaigns to regional digital habits, payment ecosystems, and trust patterns – maximizing effectiveness by aligning phishing content with the most commonly used financial services in each market.

Distribution of financial phishing pages by category and region, 2025 (download)

Online shopping scams

The distribution of organizations mimicked by phishing and scam pages in 2025 highlights a clear shift toward globally recognized digital service and e-commerce brands, with attackers prioritizing platforms that have large, active user bases and frequent payment interactions.

Netflix (28.42%) solidified its ranking as the most impersonated brand, followed by Apple (20.55%), Spotify (18.09%), and Amazon (17.85%). This reflects a move away from traditional retail-only targets toward subscription-based and ecosystem-driven services.

TOP 10 online shopping brands mimicked by phishing and scam pages, 2025 (download)

Regionally, this trend varies: Netflix dominates heavily in the Middle East, Apple leads in APAC, while Spotify ranks first across Europe, LATAM, and Africa. Although most of the top platforms are highly popular across different regions, we may suggest that the attackers tailor brand impersonation to regional popularity and user engagement.

Payment system phishing

Phishing campaigns are impersonating multiple payment ecosystems to maximize coverage. While PayPal was the most mimicked in 2024 with 37.53%, its share dropped to 14.10% in 2025. Mastercard, on the contrary, attracted cybercriminals’ attention, its share increasing from 30.54% to 33.45%, while Visa accounted for a significant 20.06% (last year, it wasn’t in the TOP 5), reinforcing the growing focus on widely used banking card networks. The continued presence of American Express (3.87%) and the increasing number of pages mimicking PayPay (11.72%) further highlight attacker experimentation and regional adaptation.

TOP 5 payment systems mimicked by phishing and scam pages, 2025 (download)

Financial malware

In 2025, the decline in users affected by financial PC malware continued. On the one hand, people continue to rely on mobile devices to manage their finances. On the other hand, some of the most prominent malware families that were initially designed as bankers had not used this functionality for years, so we excluded them from these statistics.

Changes in the number of unique users attacked by banking malware, by month, 2023–2025 (download)

Windows systems remained the primary platform targeted by attackers with financial malware. According to Kaspersky Security Bulletin, overall detections included 1,338,357 banking Trojan attacks globally from November 2024 to October 2025, though this number is also declining due to increasing focus on mobile vectors. Desktop threats continued to be distributed via traditional delivery methods like malicious emails, compromised websites, and droppers.

In 2025, Brazilian-origin families such as Grandoreiro (part of the Tetrade group) stood out for their constant activity and global reach. Despite a major law enforcement disruption in early 2024, Grandoreiro remained active in 2025, re-emerging with updated variants and continuing to operate. Other notable actors included Coyote and emerging families like Maverick, which abused WhatsApp for distribution while maintaining fileless techniques and overlaps with established Brazilian banking malware to steal credentials and enable fraudulent transactions on desktop banking platforms. Besides traditional bankers, other Brazilian malware families are worth mentioning, which specifically target relatively new and highly popular regional payment systems. One of the most prominent threats among these is GoPix Trojan focusing on the users of Brazilian Pix payment system. It is also capable of targeting local Boleto payment method, as well as stealing cryptocurrency.

There was also a surge in incidents in 2025 in which fraudsters targeted organizations through electronic document management (EDM) systems, for example, by substituting invoice details to trick victims into transferring funds. The Pure Trojan was most frequently encountered in such attacks. Attackers typically distribute it through targeted emails, using abbreviations of document names, software titles, or other accounting-related keywords in the headers of attached files. Globally in the corporate segment, Pure was detected 896 633 times over 2025, with over 64 thousand users attacked.

Contrary to PC banking malware, mobile banker attacks grew by 1.5 times in 2025 compared to the previous reporting period, which is consistent with their growth in 2024. They also saw a sharp surge in the number of unique installation packages. More statistics and trends on mobile banking malware can be found in our yearly mobile threat report.

Complementing traditional financial malware, infostealers played a significant role in enabling financial crime both on PCs and mobile devices by harvesting credentials, cookies, and autofill data from browsers and applications, which attackers then used for account takeovers or direct banking fraud. Kaspersky analyses pointed to a surge in infostealer detections (up by 59% globally on PCs), fueling credential-based attacks.

Financial cyberthreats on the dark web

The Kaspersky Digital Footprint Intelligence (DFI) team closely monitors infostealer activity on both PC and mobile devices to analyze emerging trends and assess the evolving tactics of cybercriminals.

Fraudsters especially target financial data such as payment cards, cryptocurrency wallets, login credentials and cookies for banking services, as well as documents stored on the victim’s device. The stolen data is collected in log files and shared on dark web resources, where they are bought, sold, or distributed freely and then used for financial fraud.

With access to financial data, fraudsters can gain control of users’ bank accounts and payment cards, and withdraw funds. Compromised accounts and cards are also frequently used in subsequent activities, turning the victims into intermediaries in a fraud scheme.

Compromised accounts

Kaspersky DFI found that in 2025, over one million online banking accounts (these are not Kaspersky product users) served by the world’s 100 largest banks fell victim to infostealers: their credentials were being freely shared on the dark web.

The countries with the highest median number of compromised accounts per bank were India, Spain, and Brazil.

The chart below shows the median number of compromised accounts per bank for the TOP 10 countries.

TOP 10 countries with the highest compromised account median (download)

Compromised payment cards

Seventy-four percent of payment cards that were compromised by infostealer malware, published on dark web resources and identified by the Digital Footprint Intelligence team in 2025, remained valid as of March 2026. This means that attackers could still use the cards that had been stolen months or even years prior.

It should be noted that the number of bank accounts and payment cards known to have been compromised by infostealers in 2025 will continue to rise, because fraudsters do not publish the log files immediately after the compromise but only after a delay of months or even years.

Data breaches

Regardless of the industry in which the target company operates, data breaches often expose users’ financial data, including payment card information, bank account details, transaction histories and other financial information. As a consequence, the compromised databases are sold and distributed on underground resources.

It should be noted that the threat is not limited to the exposure of financial information alone. Various identity documents and even seemingly public data, such as names, phone numbers and email addresses, can become a risk when they are published on the dark web. Such data attracts fraudsters’ attention and can be used in social engineering attacks to gain access to the user’s financial assets.

Sale of bank accounts and payment cards

The dark web often features services provided by stores that specialize in selling bank accounts and payment cards. Fraudsters typically obtain data for sale from a variety of sources, including infostealer logs and leaked databases, which are first repackaged and then combined.

Often, sellers offer complete victim profiles, referred to by fraudsters as “fullz”. These include not only bank accounts or payment cards but also identification documents, dates of birth, residential addresses, and other personal details. A full‑information package is usually more expensive than a payment card or a bank account alone.

Compiled databases

Fraudsters exploit various sources, including previously leaked databases, to compile new, thematic ones. Finance- and, in particular, cryptocurrency-related databases, are among the most popular. Compilations aimed at specific user groups, such as the elderly or wealthy people, are also of interest to cybercriminals.

Usually, thematic databases contain personal information about users, such as names, phone numbers, and email addresses. Fraudsters can use this data to launch social engineering attacks.

Creation of phishing websites

Phishing websites have become a powerful tool for the financial enrichment of fraudsters. Cybercriminals create fraudulent sites that masquerade as legitimate resources of companies operating in various industries. Gambling and retail sites remain among the most popular targets.

In order to obtain personal and financial information from unsuspecting users, adversaries seek out ways to create such phishing websites. Ready-made layouts and website copies are sold on the dark web and advertised as profitable tools. Moreover, fraudsters offer phishing website creation services.

Conclusion

The decline of traditional PC banking malware is not an indicator of reduced risk; rather, it highlights a redistribution of attacker effort toward more efficient methods targeting mobile devices, credential theft, and social engineering. Infostealers, in particular, are a force multiplier, enabling widespread compromise at scale.

Looking ahead to 2026, the financial threat landscape is expected to become even more data-driven and automated. Organizations must adapt by focusing on identity protection, real-time monitoring, and cross-channel threat intelligence, while users must remain vigilant against increasingly sophisticated and personalized attack techniques.

The year in figures

• 44.99% of all emails sent worldwide and 43.27% of all emails sent in the Russian web segment were spam
• 32.50% of all spam emails were sent from Russia
• Kaspersky Mail Anti-Virus blocked 144,722,674 malicious email attachments
• Our Anti-Phishing system thwarted 554,002,207 attempts to follow phishing links

Phishing and scams in 2025

Entertainment-themed phishing attacks and scams

In 2025, online streaming services remained a primary theme for phishing sites within the entertainment sector, typically by offering early access to major premieres ahead of their official release dates. Alongside these, there was a notable increase in phishing pages mimicking ticket aggregation platforms for live events. Cybercriminals lured users with offers of free tickets to see popular artists on pages that mirrored the branding of major ticket distributors. To participate in these “promotions”, victims were required to pay a nominal processing or ticket-shipping fee. Naturally, after paying the fee, the users never received any tickets.

In addition to concert-themed bait, other music-related scams gained significant traction. Users were directed to phishing pages and prompted to “vote for their favorite artist”, a common activity within fan communities. To bolster credibility, the scammers leveraged the branding of major companies like Google and Spotify. This specific scheme was designed to harvest credentials for multiple platforms simultaneously, as users were required to sign in with their Facebook, Instagram, or email credentials to participate.

As a pretext for harvesting Spotify credentials, attackers offered users a way to migrate their playlists to YouTube. To complete the transfer, victims were to just enter their Spotify credentials.

Beyond standard phishing, threat actors leveraged Spotify’s popularity for scams. In Brazil, scammers promoted a scheme where users were purportedly paid to listen to and rate songs.

To “withdraw” their earnings, users were required to provide their identification number for PIX, Brazil’s instant payment system.

Users were then prompted to verify their identity. To do so, the victim was required to make a small, one-time “verification payment”, an amount significantly lower than the potential earnings.

The form for submitting this “verification payment” was designed to appear highly authentic, even requesting various pieces of personal data. It is highly probable that this data was collected for use in subsequent attacks.

In another variation, users were invited to participate in a survey in exchange for a $1000 gift card. However, in a move typical of a scam, the victim was required to pay a small processing or shipping fee to claim the prize. Once the funds were transferred, the attackers vanished, and the website was taken offline.

Even deciding to go to an art venue with a girl from a dating site could result in financial loss. In this scenario, the “date” would suggest an in-person meeting after a brief period of rapport-building. They would propose a relatively inexpensive outing, such as a movie or a play at a niche theater. The scammer would go so far as to provide a link to a specific page where the victim could supposedly purchase tickets for the event.

To enhance the site’s perceived legitimacy, it even prompted the user to select their city of residence.

However, once the “ticket payment” was completed, both the booking site and the individual from the dating platform would vanish.

A similar tactic was employed by scam sites selling tickets for escape rooms. The design of these pages closely mirrored legitimate websites to lower the target’s guard.

Phishing pages masquerading as travel portals often capitalize on a sense of urgency, betting that a customer eager to book a “last-minute deal” will overlook an illegitimate URL. For example, the fraudulent page shown below offered exclusive tours of Japan, purportedly from a major Japanese tour operator.

Sensitive data at risk: phishing via government services

To harvest users’ personal data, attackers utilized a traditional phishing framework: fraudulent forms for document processing on sites posing as government portals. The visual design and content of these phishing pages meticulously replicated legitimate websites, offering the same services found on official sites. In Brazil, for instance, attackers collected personal data from individuals under the pretext of issuing a Rural Property Registration Certificate (CCIR).

Through this method, fraudsters tried to gain access to the victim’s highly sensitive information, including their individual taxpayer registry (CPF) number. This identifier serves as a unique key for every Brazilian national to access private accounts on government portals. It is also utilized in national databases and displayed on personal identification documents, making its interception particularly dangerous. Scammer access to this data poses a severe risk of identity theft, unauthorized access to government platforms, and financial exposure.

Furthermore, users were at risk of direct financial loss: in certain instances, the attackers requested a “processing fee” to facilitate the issuance of the important document.

Fraudsters also employed other methods to obtain CPF numbers. Specifically, we discovered phishing pages mimicking the official government service portal, which requires the CPF for sign-in.

Another theme exploited by scammers involved government payouts. In 2025, Singaporean citizens received government vouchers ranging from $600 to $800 in honor of the country’s 60th anniversary. To redeem these, users were required to sign in to the official program website. Fraudsters rushed to create web pages designed to mimic this site. Interestingly, the primary targets in this campaign were Telegram accounts, despite the fact that Telegram credentials were not a requirement for signing in to the legitimate portal.

We also identified a scam targeting users in Norway who were looking to renew or replace their driver’s licenses. Upon opening a website masquerading as the official Norwegian Public Roads Administration website, visitors were prompted to enter their vehicle registration and phone numbers.

Next, the victim was prompted for sensitive data, such as the personal identification number unique to every Norwegian citizen. By doing so, the attackers not only gained access to confidential information but also reinforced the illusion that the victim was interacting with an official website.

Once the personal data was submitted, a fraudulent page would appear, requesting a “processing fee” of 1200 kroner. If the victim entered their credit card details, the funds were transferred directly to the scammers with no possibility of recovery.

In Germany, attackers used the pretext of filing tax returns to trick users into providing their email user names and passwords on phishing pages.

A call to urgent action is a classic tactic in phishing scenarios. When combined with the threat of losing property, these schemes become highly effective bait, distracting potential victims from noticing an incorrect URL or a poorly designed website. For example, a phishing warning regarding unpaid vehicle taxes was used as a tool by attackers targeting credentials for the UK government portal.

We have observed that since the spring of 2025, there has been an increase in emails mimicking automated notifications from the Russian government services portal. These messages were distributed under the guise of application status updates and contained phishing links.

We also recorded vishing attacks targeting users of government portals. Victims were prompted to “verify account security” by calling a support number provided in the email. To lower the users’ guard, the attackers included fabricated technical details in the emails, such as the IP address, device model, and timestamp of an alleged unauthorized sign-in.

Last year, attackers also disguised vishing emails as notifications from microfinance institutions or credit bureaus regarding new loan applications. The scammers banked on the likelihood that the recipient had not actually applied for a loan. They would then prompt the victim to contact a fake support service via a spoofed support number.

Know Your Customer

As an added layer of data security, many services now implement biometric verification (facial recognition, fingerprints, and retina scans), as well as identity document verification and digital signatures. To harvest this data, fraudsters create clones of popular platforms that utilize these verification protocols. We have previously detailed the mechanics of this specific type of data theft.

In 2025, we observed a surge in phishing attacks targeting users under the guise of Know Your Customer (KYC) identity verification. KYC protocols rely on a specific set of user data for identification. By spoofing the pages of payment services such as Vivid Money, fraudsters harvested the information required to pass KYC authentication.

Notably, this threat also impacted users of various other platforms that utilize KYC procedures.

A distinctive feature of attacks on the KYC process is that, in addition to the victim’s full name, email address, and phone number, phishers request photos of their passport or face, sometimes from multiple angles. If this information falls into the hands of threat actors, the consequences extend beyond the loss of account access; the victim’s credentials can be sold on dark web marketplaces, a trend we have highlighted in previous reports.

Messaging app phishing

Account hijacking on messaging platforms like WhatsApp and Telegram remains one of the primary objectives of phishing and scam operations. While traditional tactics, such as suspicious links embedded in messages, have been well-known for some time, the methods used to steal credentials are becoming increasingly sophisticated.

For instance, Telegram users were invited to participate in a prize giveaway purportedly hosted by a famous athlete. This phishing attack, which masqueraded as an NFT giveaway, was executed through a Telegram Mini App. This marks a shift in tactics, as attackers previously relied on external web pages for these types of schemes.

In 2025, new variations emerged within the familiar framework of distributing phishing links via Telegram. For example, we observed prompts inviting users to vote for the “best dentist” or “best COO” in town.

The most prevalent theme in these voting-based schemes, children’s contests, was distributed primarily through WhatsApp. These phishing pages showed little variety; attackers utilized a standardized website design and set of “bait” photos, simply localizing the language based on the target audience’s geographic location.

To participate in the vote, the victim was required to enter the phone number linked to their WhatsApp account.

They were then prompted to provide a one-time authentication code for the messaging app.

The following are several other popular methods used by fraudsters to hijack user credentials.

In China, phishing pages meticulously replicated the WhatsApp interface. Victims were notified that their accounts had purportedly been flagged for “illegal activity”, necessitating “additional verification”.

The victim was redirected to a page to enter their phone number, followed by a request for their authorization code.

In other instances, users received messages allegedly from WhatsApp support regarding account authentication via SMS. As with the other scenarios described, the attackers’ objective was to obtain the authentication code required to hijack the account.

Fraudsters enticed WhatsApp users with an offer to link an app designed to “sync communications” with business contacts.

To increase the perceived legitimacy of the phishing site, the attackers even prompted users to create custom credentials for the page.

After that, the user was required to “purchase a subscription” to activate the application. This allowed the scammers to harvest credit card data, leaving the victim without the promised service.

To lure Telegram users, phishers distributed invitations to online dating chats.

Attackers also heavily leveraged the promise of free Telegram Premium subscriptions. While these phishing pages were previously observed only in Russian and English, the linguistic scope of these campaigns expanded significantly this year. As in previous iterations, activating the subscription required the victim to sign in to their account, which could result in the loss of account access.

Exploiting the ChatGPT hype

Artificial intelligence is increasingly being leveraged by attackers as bait. For example, we have identified fraudulent websites mimicking the official payment page for ChatGPT Plus subscriptions.

Social media marketing through LLMs was also a potential focal point for user interest. Scammers offered “specialized prompt kits” designed for social media growth; however, once payment was received, they vanished, leaving victims without the prompts or their money.

The promise of easy income through neural networks has emerged as another tactic to attract potential victims. Fraudsters promoted using ChatGPT to place bets, promising that the bot would do all the work while the user collected the profits. These services were offered at a “special price” valid for only 15 minutes after the page was opened. This narrow window prevented the victim from critically evaluating the impulse purchase.

Job opportunities with a catch

To attract potential victims, scammers exploited the theme of employment by offering high-paying remote positions. Applicants responding to these advertisements did more than just disclose their personal data; in some cases, fraudsters requested a small sum under the pretext of document processing or administrative fees. To convince victims that the offer was legitimate, attackers impersonated major brands, leveraging household names to build trust. This allowed them to lower the victims’ guard, even when the employment terms sounded too good to be true.

We also observed schemes where, after obtaining a victim’s data via a phishing site, scammers would follow up with a phone call – a tactic aimed at tricking the user into disclosing additional personal data.

By analyzing current job market trends, threat actors also targeted popular career paths to steal messaging app credentials. These phishing schemes were tailored to specific regional markets. For example, in the UAE, fake “employment agency” websites were circulating.

In a more sophisticated variation, users were asked to complete a questionnaire that required the phone number linked to their Telegram account.

To complete the registration, users were prompted for a code which, in reality, was a Telegram authorization code.

Notably, the registration process did not end there; the site continued to request additional information to “set up an account” on the fraudulent platform. This served to keep victims in the dark, maintaining their trust in the malicious site’s perceived legitimacy.

After finishing the registration, the victim was told to wait 24 hours for “verification”, though the scammers’ primary objective, hijacking the Telegram account, had already been achieved.

Simpler phishing schemes were also observed, where users were redirected to a page mimicking the Telegram interface. By entering their phone number and authorization code, victims lost access to their accounts.

Job seekers were not the only ones targeted by scammers. Employers’ accounts were also in the crosshairs, specifically on a major Russian recruitment portal. On a counterfeit page, the victim was asked to “verify their account” in order to post a job listing, which required them to enter their actual sign-in credentials for the legitimate site.

Spam in 2025

Malicious attachments

Password-protected archives

Attackers began aggressively distributing messages with password-protected malicious archives in 2024. Throughout 2025, these archives remained a popular vector for spreading malware, and we observed a variety of techniques designed to bypass security solutions.

For example, threat actors sent emails impersonating law firms, threatening victims with legal action over alleged “unauthorized domain name use”. The recipient was prompted to review potential pre-trial settlement options detailed in an attached document. The attachment consisted of an unprotected archive containing a secondary password-protected archive and a file with the password. Disguised as a legal document within this inner archive was a malicious WSF file, which installed a Trojan into the system via startup. The Trojan then stealthily downloaded and installed Tor, which allowed it to regularly exfiltrate screenshots to the attacker-controlled C2 server.

In addition to archives, we also encountered password-protected PDF files containing malicious links over the past year.

E-signature service exploits

Emails using the pretext of “signing a document” to coerce users into clicking phishing links or opening malicious attachments were quite common in 2025. The most prevalent scheme involved fraudulent notifications from electronic signature services. While these were primarily used for phishing, one specific malware sample identified within this campaign is of particular interest.

The email, purportedly sent from a well-known document-sharing platform, notified the recipient that they had been granted access to a “contract” attached to the message. However, the attachment was not the expected PDF; instead, it was a nested email file named after the contract. The body of this nested message mirrored the original, but its attachment utilized a double extension: a malicious SVG file containing a Trojan was disguised as a PDF document. This multi-layered approach was likely an attempt to obfuscate the malware and bypass security filters.

“Business correspondence” impersonating industrial companies

In the summer of last year, we observed mailshots sent in the name of various existing industrial enterprises. These emails contained DOCX attachments embedded with Trojans. Attackers coerced victims into opening the malicious files under the pretext of routine business tasks, such as signing a contract or drafting a report.

The authors of this malicious campaign attempted to lower users’ guard by using legitimate industrial sector domains in the “From” address. Furthermore, the messages were routed through the mail servers of a reputable cloud provider, ensuring the technical metadata appeared authentic. Consequently, even a cautious user could mistake the email for a genuine communication, open the attachment, and compromise their device.

Attacks on hospitals

Hospitals were a popular target for threat actors this past year: they were targeted with malicious emails impersonating well-known insurance providers. Recipients were threatened with legal action regarding alleged “substandard medical services”. The attachments, described as “medical records and a written complaint from an aggrieved patient”, were actually malware. Our solutions detect this threat as Backdoor.Win64.BrockenDoor, a backdoor capable of harvesting system information and executing malicious commands on the infected device.

We also came across emails with a different narrative. In those instances, medical staff were requested to facilitate a patient transfer from another hospital for ongoing observation and treatment. These messages referenced attached medical files containing diagnostic and treatment history, which were actually archives containing malicious payloads.

To bolster the perceived legitimacy of these communications, attackers did more than just impersonate famous insurers and medical institutions; they registered look-alike domains that mimicked official organizations’ domains by appending keywords such as “-insurance” or “-med.” Furthermore, to lower the victims’ guard, scammers included a fake “Scanned by Email Security” label.

Messages containing instructions to run malicious scripts

Last year, we observed unconventional infection chains targeting end-user devices. Threat actors continued to distribute instructions for downloading and executing malicious code, rather than attaching the malware files directly. To convince the recipient to follow these steps, attackers typically utilized a lure involving a “critical software update” or a “system patch” to fix a purported vulnerability. Generally, the first step in the instructions required launching the command prompt with administrative privileges, while the second involved entering a command to download and execute the malware: either a script or an executable file.

In some instances, these instructions were contained within a PDF file. The victim was prompted to copy a command into PowerShell that was neither obfuscated nor hidden. Such schemes target non-technical users who would likely not understand the command’s true intent and would unknowingly infect their own devices.

Scams

Law enforcement impersonation scams in the Russian web segment

In 2025, extortion campaigns involving actors posing as law enforcement – a trend previously more prevalent in Europe – were adapted to target users across the Commonwealth of Independent States.

For example, we identified messages disguised as criminal subpoenas or summonses purportedly issued by Russian law enforcement agencies. However, the specific departments cited in these emails never actually existed. The content of these “summonses” would also likely raise red flags for a cautious user. This blackmail scheme relied on the victim, in their state of panic, not scrutinizing the contents of the fake summons.

To intimidate recipients, the attackers referenced legal frameworks and added forged signatures and seals to the “subpoenas”. In reality, neither the cited statutes nor the specific civil service positions exist in Russia.

We observed similar attacks – employing fabricated government agencies and fictitious legal acts – in other CIS countries, such as Belarus.

Fraudulent investment schemes

Threat actors continued to aggressively exploit investment themes in their email scams. These emails typically promise stable, remote income through “exclusive” investment opportunities. This remains one of the most high-volume and adaptable categories of email scams. Threat actors embedded fraudulent links both directly within the message body and inside various types of attachments: PDF, DOC, PPTX, and PNG files. Furthermore, they increasingly leveraged legitimate Google services, such as Google Docs, YouTube, and Google Forms, to distribute these communications. The link led to the site of the “project” where the victim was prompted to provide their phone number and email. Subsequently, users were invited to invest in a non-existent project.

We have previously documented these mailshots: they were originally targeted at Russian-speaking users and were primarily distributed under the guise of major financial institutions. However, in 2025, this investment-themed scam expanded into other CIS countries and Europe. Furthermore, the range of industries that spammers impersonated grew significantly. For instance, in their emails, attackers began soliciting investments for projects supposedly led by major industrial-sector companies in Kazakhstan and the Czech Republic.

Fraudulent “brand partner” recruitment

This specific scam operates through a multi-stage workflow. First, the target company receives a communication from an individual claiming to represent a well-known global brand, inviting them to register as a certified supplier or business partner. To bolster the perceived authenticity of the offer, the fraudsters send the victim an extensive set of forged documents. Once these documents are signed, the victim is instructed to pay a “deposit”, which the attackers claim will be fully refunded once the partnership is officially established.

These mailshots were first detected in 2025 and have rapidly become one of the most prevalent forms of email-based fraud. In December 2025 alone, we blocked over 80,000 such messages. These campaigns specifically targeted the B2B sector and were notable for their high level of variation – ranging from their technical properties to the diversity of the message content and the wide array of brands the attackers chose to impersonate.

Fraudulent overdue rent notices

Last year, we identified a new theme in email scams: recipients were notified that the payment deadline for a leased property had expired and were urged to settle the “debt” immediately. To prevent the victim from sending funds to their actual landlord, the email claimed that banking details had changed. The “debtor” was then instructed to request the new payment information – which, of course, belonged to the fraudsters. These mailshots primarily targeted French-speaking countries; however, in December 2025, we discovered a similar scam variant in German.

QR codes in scam letters

In 2025, we observed a trend where QR codes were utilized not only in phishing attempts but also in extortion emails. In a classic blackmail scam, the user is typically intimidated by claims that hackers have gained access to sensitive data. To prevent the public release of this information, the attackers demand a ransom payment to their cryptocurrency wallet.

Previously, to bypass email filters, scammers attempted to obfuscate the wallet address by using various noise contamination techniques. In last year’s campaigns, however, scammers shifted to including a QR code that contained the cryptocurrency wallet address.

News agenda

As in previous years, spammers in 2025 aggressively integrated current events into their fraudulent messaging to increase engagement.

For example, following the launch of $TRUMP memecoins surrounding Donald Trump’s inauguration, we identified scam campaigns promoting the “Trump Meme Coin” and “Trump Digital Trading Cards”. In these instances, scammers enticed victims to click a link to claim “free NFTs”.

We also observed ads offering educational credentials. Spammers posted these ads as comments on legacy, unmoderated forums; this tactic ensured that notifications were automatically pushed to all users subscribed to the thread. These notifications either displayed the fraudulent link directly in the comment preview or alerted users to a new post that redirected them to spammers’ sites.

In the summer, when the wedding of Amazon founder Jeff Bezos became a major global news story, users began receiving Nigerian-style scam messages purportedly from Bezos himself, as well as from his former wife, MacKenzie Scott. These emails promised recipients substantial sums of money, framed either as charitable donations or corporate compensation from Amazon.

During the BLACKPINK world tour, we observed a wave of spam advertising “luggage scooters”. The scammers claimed these were the exact motorized suitcases used by the band members during their performances.

Finally, in the fall of 2025, traditionally timed to coincide with the launch of new iPhones, we identified scam campaigns featuring surveys that offered participants a chance to “win” a fictitious iPhone 17 Pro.

After completing a brief survey, the user was prompted to provide their contact information and physical address, as well as pay a “delivery fee” – which was the scammers’ ultimate objective. Upon entering their credit card details into the fraudulent site, the victim risked losing not only the relatively small delivery charge but also the entire balance in their bank account.

The widespread popularity of Ozempic was also reflected in spam campaigns; users were bombarded with offers to purchase versions of the drug or questionable alternatives.

Localized news events also fall under the scrutiny of fraudsters, serving as the basis for scam narratives. For instance, last summer, coinciding with the opening of the tax season in South Africa, we began detecting phishing emails impersonating the South African Revenue Service (SARS). These messages notified taxpayers of alleged “outstanding balances” that required immediate settlement.

Methods of distributing email threats

Google services

In 2025, threat actors increasingly leveraged various Google services to distribute email-based threats. We observed the exploitation of Google Calendar: scammers would create an event containing a WhatsApp contact number in the description and send an invitation to the target. For instance, companies received emails regarding product inquiries that prompted them to move the conversation to the messaging app to discuss potential “collaboration”.

Spammers employed a similar tactic using Google Classroom. We identified samples offering SEO optimization services that likewise directed victims to a WhatsApp number for further communication.

We also detected the distribution of fraudulent links via legitimate YouTube notifications. Attackers would reply to user comments under various videos, triggering an automated email notification to the victim. This email contained a link to a video that displayed only a message urging the viewer to “check the description”, where the actual link to the scam site was located. As the victim received an email containing the full text of the fraudulent comment, they were often lured through this chain of links, eventually landing on the scam site.

Over the past two years or so, there has been a significant rise in attacks utilizing Google Forms. Fraudsters create a survey with an enticing title and place the scam messaging directly in the form’s description. They then submit the form themselves, entering the victims’ email addresses into the field for the respondent email. This triggers legitimate notifications from the Google Forms service to the targeted addresses. Because these emails originate from Google’s own mail servers, they appear authentic to most spam filters. The attackers rely on the victim focusing on the “bait” description containing the fraudulent link rather than the standard form header.

Google Groups also emerged as a popular tool for spam distribution last year. Scammers would create a group, add the victims’ email addresses as members, and broadcast spam through the service. This scheme proved highly effective: even if a security solution blocked the initial spam message, the user could receive a deluge of automated replies from other addresses on the member list.

At the end of 2025, we encountered a legitimate email in terms of technical metadata that was sent via Google and contained a fraudulent link. The message also included a verification code for the recipient’s email address. To generate this notification, scammers filled out the account registration form in a way that diverted the recipient’s attention toward a fraudulent site. For example, instead of entering a first and last name, the attackers inserted text such as “Personal Link” followed by a phishing URL, utilizing noise contamination techniques. By entering the victim’s email address into the registration field, the scammers triggered a legitimate system notification containing the fraudulent link.

OpenAI

In addition to Google services, spammers leveraged other platforms to distribute email threats, notably OpenAI, riding the wave of artificial intelligence popularity. In 2025, we observed emails sent via the OpenAI platform into which spammers had injected short messages, fraudulent links, or phone numbers.

This occurs during the account registration process on the OpenAI platform, where users are prompted to create an organization to generate an API key. Spammers placed their fraudulent content directly into the field designated for the organization’s name. They then added the victims’ email addresses as organization members, triggering automated platform invitations that delivered the fraudulent links or contact numbers directly to the targets.

Spear phishing and BEC attacks in 2025

QR codes

The use of QR codes in spear phishing has become a conventional tactic that threat actors continued to employ throughout 2025. Specifically, we observed the persistence of a major trend identified in our previous report: the distribution of phishing documents disguised as notifications from a company’s HR department.

In these campaigns, attackers impersonated HR team members, requesting that employees review critical documentation, such as a new corporate policy or code of conduct. These documents were typically attached to the email as PDF files.

To maintain the ruse, the PDF document contained a highly convincing call to action, prompting the user to scan a QR code to access the relevant file. While attackers previously embedded these codes directly into the body of the email, last year saw a significant shift toward placing them within attachments – most likely in an attempt to bypass email security filters.

Upon scanning the QR code within the attachment, the victim was redirected to a phishing page meticulously designed to mimic a Microsoft authentication form.

In addition to fraudulent HR notifications, threat actors created scheduled meetings within the victim’s email calendar, placing DOC or PDF files containing QR codes in the event descriptions. Leveraging calendar invites to distribute malicious links is a legacy technique that was widely observed during scam campaigns in 2019. After several years of relative dormancy, we saw a resurgence of this technique last year, now integrated into more sophisticated spear phishing operations.

In one specific example, the attachment was presented as a “new voicemail” notification. To listen to the recording, the user was prompted to scan a QR code and sign in to their account on the resulting page.

As in the previous scenario, scanning the code redirected the user to a phishing page, where they risked losing access to their Microsoft account or internal corporate sites.

Link protection services

Threat actors utilized more than just QR codes to hide phishing URLs and bypass security checks. In 2025, we discovered that fraudsters began weaponizing link protection services for the same purpose. The primary function of these services is to intercept and scan URLs at the moment of clicking to prevent users from reaching phishing sites or downloading malware. However, attackers are now abusing this technology by generating phishing links that security systems mistakenly categorize as “safe”.

This technique is employed in both mass and spear phishing campaigns. It is particularly dangerous in targeted attacks, which often incorporate employees’ personal data and mimic official corporate branding. When combined with these characteristics, a URL generated through a legitimate link protection service can significantly bolster the perceived authenticity of a phishing email.

After opening a URL that seemed safe, the user was directed to a phishing site.

BEC and fabricated email chains

In Business Email Compromise (BEC) attacks, threat actors have also begun employing new techniques, the most notable of which is the use of fake forwarded messages.

This BEC attack unfolded as follows. An employee would receive an email containing a previous conversation between the sender and another colleague. The final message in this thread was typically an automated out-of-office reply or a request to hand off a specific task to a new assignee. In reality, however, the entire initial conversation with the colleague was completely fabricated. These messages lacked the thread-index headers, as well as other critical header values, that would typically verify the authenticity of an actual email chain.

In the example at hand, the victim was pressured to urgently pay for a license using the provided banking details. The PDF attachments included wire transfer instructions and a counterfeit cover letter from the bank.

The bank does not actually have an office at the address provided in the documents.

Statistics: phishing

In 2025, Kaspersky solutions blocked 554,002,207 attempts to follow fraudulent links. In contrast to the trends of previous years, we did not observe any major spikes in phishing activity; instead, the volume of attacks remained relatively stable throughout the year, with the exception of a minor decline in December.

Anti-Phishing triggers, 2025 (download)

The phishing and scam landscape underwent a shift. While in 2024, we saw a high volume of mass attacks, their frequency declined in 2025. Furthermore, redirection-based schemes, which were frequently used for online fraud in 2024, became less prevalent in 2025.

Map of phishing attacks

As in the previous year, Peru remains the country with the highest percentage (17.46%) of users targeted by phishing attacks. Bangladesh (16.98%) took second place, entering the TOP 10 for the first time, while Malawi (16.65%), which was absent from the 2024 rankings, was third. Following these are Tunisia (16.19%), Colombia (15.67%), the latter also being a newcomer to the TOP 10, Brazil (15.48%), and Ecuador (15.27%). They are followed closely by Madagascar and Kenya, both with a 15.23% share of attacked users. Rounding out the list is Vietnam, which previously held the third spot, with a share of 15.05%.

Country/territory	Share of attacked users**
Peru	17.46%
Bangladesh	16.98%
Malawi	16.65%
Tunisia	16.19%
Colombia	15.67%
Brazil	15.48%
Ecuador	15.27%
Madagascar	15.23%
Kenya	15.23%
Vietnam	15.05%

** Share of users who encountered phishing out of the total number of Kaspersky users in the country/territory, 2025

Top-level domains

In 2025, breaking a trend that had persisted for several years, the majority of phishing pages were hosted within the XYZ TLD zone, accounting for 21.64% – a three-fold increase compared to 2024. The second most popular zone was TOP (15.45%), followed by BUZZ (13.58%). This high demand can be attributed to the low cost of domain registration in these zones. The COM domain, which had previously held the top spot consistently, fell to fourth place (10.52%). It is important to note that this decline is partially driven by the popularity of typosquatting attacks: threat actors frequently spoof sites within the COM domain by using alternative suffixes, such as example-com.site instead of example.com. Following COM is the BOND TLD, entering the TOP 10 for the first time with a 5.56% share. As this zone is typically associated with financial websites, the surge in malicious interest there is a logical progression for financial phishing. The sixth and seventh positions are held by ONLINE (3.39%) and SITE (2.02%), which occupied the fourth and fifth spots, respectively, in 2024. In addition, three domain zones that had not previously appeared in our statistics emerged as popular hosting environments for phishing sites. These included the CFD domain (1.97%), typically used for websites in the clothing, fashion, and design sectors; the Polish national top-level domain, PL (1.75%); and the LOL domain (1.60%).

Most frequent top-level domains for phishing pages, 2025 (download)

Organizations targeted by phishing attacks

The rankings of organizations targeted by phishers are based on detections by the Anti-Phishing deterministic component on user computers. The component detects all pages with phishing content that the user has tried to open by following a link in an email message or on the web, as long as links to these pages are present in the Kaspersky database.

Phishing pages impersonating web services (27.42%) and global internet portals (15.89%) maintained their positions in the TOP 10, continuing to rank first and second, respectively. Online stores (11.27%), a traditional favorite among threat actors, returned to the third spot. In 2025, phishers showed increased interest in online gamers: websites mimicking gaming platforms jumped from ninth to fifth place (7.58%). These are followed by banks (6.06%), payment systems (5.93%), messengers (5.70%), and delivery services (5.06%). Phishing attacks also targeted social media (4.42%) and government services (1.77%) accounts.

Distribution of targeted organizations by category, 2025 (download)

Statistics: spam

Share of spam in email traffic

In 2025, the average share of spam in global email traffic was 44.99%, representing a decrease of 2.28 percentage points compared to the previous year. Notably, contrary to the trends of the past several years, the fourth quarter was the busiest one: an average of 49.26% of emails were categorized as spam, with peak activity occurring in November (52.87%) and December (51.80%). Throughout the rest of the year, the distribution of junk mail remained relatively stable without significant spikes, maintaining an average share of approximately 43.50%.

Share of spam in global email traffic, 2025 (download)

In the Russian web segment (Runet), we observed a more substantial decline: the average share of spam decreased by 5.3 percentage points to 43.27%. Deviating from the global trend, the fourth quarter was the quietest period in Russia, with a share of 41.28%. We recorded the lowest level of spam activity in December, when only 36.49% of emails were identified as junk. January and February were also relatively calm, with average values of 41.94% and 43.09%, respectively. Conversely, the Runet figures for March–October correlated with global figures: no major surges were observed, spam accounting for an average of 44.30% of total email traffic during these months.

Share of spam in Runet email traffic, 2025 (download)

Countries and territories where spam originated

The top three countries in the 2025 rankings for the volume of outgoing spam mirror the distribution of the previous year: Russia, China, and the United States. However, the share of spam originating from Russia decreased from 36.18% to 32.50%, while the shares of China (19.10%) and the U.S. (10.57%) each increased by approximately 2 percentage points. Germany rose to fourth place (3.46%), up from sixth last year, displacing Kazakhstan (2.89%). Hong Kong followed in sixth place (2.11%). The Netherlands and Japan shared the next spot with identical shares of 1.95%; however, we observed a year-over-year increase in outgoing spam from the Netherlands, whereas Japan saw a decline. The TOP 10 is rounded out by Brazil (1.94%) and Belarus (1.74%), the latter ranking for the first time.

TOP 20 countries and territories where spam originated in 2025 (download)

Malicious email attachments

In 2025, Kaspersky solutions blocked 144,722,674 malicious email attachments, an increase of nineteen million compared to the previous year. The beginning and end of the year were traditionally the most stable periods; however, we also observed a notable decline in activity during August and September. Peaks in email antivirus detections occurred in June, July, and November.

Email antivirus detections, 2025 (download)

The most prevalent malicious email attachment in 2025 was the Makoob Trojan family, which covertly harvests system information and user credentials. Makoob first entered the TOP 10 in 2023 in eighth place, rose to third in 2024, and secured the top spot in 2025 with a share of 4.88%. Following Makoob, as in the previous year, was the Badun Trojan family (4.13%), which typically disguises itself as electronic documents. The third spot is held by the Taskun family (3.68%), which creates malicious scheduled tasks, followed by Agensla stealers (3.16%), which were the most common malicious attachments in 2024. Next are Trojan.Win32.AutoItScript scripts (2.88%), appearing in the rankings for the first time. In sixth place is the Noon spyware for all Windows systems (2.63%), which also occupied the tenth spot with its variant specifically targeting 32-bit systems (1.10%). Rounding out the TOP 10 are Hoax.HTML.Phish (1.98%) phishing attachments, Guloader downloaders (1.90%) – a newcomer to the rankings – and Badur (1.56%) PDF documents containing suspicious links.

TOP 10 malware families distributed via email attachments, 2025 (download)

The distribution of specific malware samples traditionally mirrors the distribution of malware families almost exactly. The only differences are that a specific variant of the Agensla stealer ranked sixth instead of fourth (2.53%), and the Phish and Guloader samples swapped positions (1.58% and 1.78%, respectively). Rounding out the rankings in tenth place is the password stealer Trojan-PSW.MSIL.PureLogs.gen with a share of 1.02%.

TOP 10 malware samples distributed via email attachments, 2025 (download)

Countries and territories targeted by malicious mailings

The highest volume of malicious email attachments was blocked on devices belonging to users in China (13.74%). For the first time in two years, Russia dropped to second place with a share of 11.18%. Following closely behind are Mexico (8.18%) and Spain (7.70%), which swapped places compared to the previous year. Email antivirus triggers saw a slight increase in Türkiye (5.19%), which maintained its fifth-place position. Sixth and seventh places are held by Vietnam (4.14%) and Malaysia (3.70%); both countries climbed higher in the TOP 10 due to an increase in detection shares. These are followed by the UAE (3.12%), which held its position from the previous year. Italy (2.43%) and Colombia (2.07%) also entered the TOP 10 list of targets for malicious mailshots.

TOP 20 countries and territories targeted by malicious mailshots, 2025 (download)

Conclusion

2026 will undoubtedly be marked by novel methods of exploiting artificial intelligence capabilities. At the same time, messaging app credentials will remain a highly sought-after prize for threat actors. While new schemes are certain to emerge, they will likely supplement rather than replace time-tested tricks and tactics. This underscores the reality that, alongside the deployment of robust security software, users must remain vigilant and exercise extreme caution toward any online offers that raise even the slightest suspicion.

The intensified focus on government service credentials signals a rise in potential impact; unauthorized access to these services can lead to financial theft, data breaches, and full-scale identity theft. Furthermore, the increased abuse of legitimate tools and the rise of multi-stage attacks – which often begin with seemingly harmless files or links – demonstrate a concerted effort by fraudsters to lull users into a false sense of security while pursuing their malicious objectives.

Introduction

Stan Ghouls (also known as Bloody Wolf) is an cybercriminal group that has been launching targeted attacks against organizations in Russia, Kyrgyzstan, Kazakhstan, and Uzbekistan since at least 2023. These attackers primarily have their sights set on the manufacturing, finance, and IT sectors. Their campaigns are meticulously prepared and tailored to specific victims, featuring a signature toolkit of custom Java-based malware loaders and a sprawling infrastructure with resources dedicated to specific campaigns.

We continuously track Stan Ghouls’ activity, providing our clients with intel on their tactics, techniques, procedures, and latest campaigns. In this post, we share the results of our most recent deep dive into a campaign targeting Uzbekistan, where we identified roughly 50 victims. About 10 devices in Russia were also hit, with a handful of others scattered across Kazakhstan, Turkey, Serbia, and Belarus (though those last three were likely just collateral damage).

During our investigation, we spotted shifts in the attackers’ infrastructure – specifically, a batch of new domains. We also uncovered evidence suggesting that Stan Ghouls may have added IoT-focused malware to their arsenal.

Technical details

Threat evolution

Stan Ghouls relies on phishing emails packed with malicious PDF attachments as their initial entry point. Historically, the group’s weapon of choice was the remote access Trojan (RAT) STRRAT, also known as Strigoi Master. Last year, however, they switched strategies, opting to misuse legitimate software, NetSupport, to maintain control over infected machines.

Given Stan Ghouls’ targeting of financial institutions, we believe their primary motive is financial gain. That said, their heavy use of RATs may also hint at cyberespionage.

Like any other organized cybercrime groups, Stan Ghouls frequently refreshes its infrastructure. To track their campaigns effectively, you have to continuously analyze their activity.

Initial infection vector

As we’ve mentioned, Stan Ghouls’ primary – and currently only – delivery method is spear phishing. Specifically, they favor emails loaded with malicious PDF attachments. This has been backed up by research from several of our industry peers (1, 2, 3). Interestingly, the attackers prefer to use local languages rather than opting for international mainstays like Russian or English. Below is an example of an email spotted in a previous campaign targeting users in Kyrgyzstan.

The email is written in Kyrgyz and translates to: “The service has contacted you. Materials for review are attached. Sincerely”.

The attachment was a malicious PDF file titled “Постановление_Районный_суд_Кчрм_3566_28-01-25_OL4_scan.pdf” (the title, written in Russian, posed it as an order of district court).

During the most recent campaign, which primarily targeted victims in Uzbekistan, the attackers deployed spear-phishing emails written in Uzbek:

The email text can be translated as follows:

[redacted] AKMALZHON IBROHIMOVICH

You will receive a court notice. Application for retrial. The case is under review by the district court. Judicial Service.

Mustaqillik Street, 147 Uraboshi Village, Quva District.

The attachment, named E-SUD_705306256_ljro_varaqasi.pdf (MD5: 7556e2f5a8f7d7531f28508f718cb83d), is a standard one-page decoy PDF:

Notice that the attackers claim that the “case materials” (which are actually the malicious loader) can only be opened using the Java Runtime Environment.

They even helpfully provide a link for the victim to download and install it from the official website.

The malicious loader

The decoy document contains identical text in both Russian and Uzbek, featuring two links that point to the malicious loader:

• Uzbek link (“- Ish materiallari 09.12.2025 y”): hxxps://mysoliq-uz[.]com/api/v2/documents/financial/Q4-2025/audited/consolidated/with-notes/financials/reports/annual/2025/tashkent/statistical-statements/
• Russian link (“- Материалы дела 09.12.2025 г.”): hxxps://my-xb[.]com/api/v2/documents/financial/Q4-2025/audited/consolidated/with-notes/financials/reports/annual/2025/tashkent/statistical-statements/

Both links lead to the exact same JAR file (MD5: 95db93454ec1d581311c832122d21b20).

It’s worth noting that these attackers are constantly updating their infrastructure, registering new domains for every new campaign. In the relatively short history of this threat, we’ve already mapped out over 35 domains tied to Stan Ghouls.

The malicious loader handles three main tasks:

1. Displaying a fake error message to trick the user into thinking the application can’t run. The message in the screenshot translates to: “This application cannot be run in your OS. Please use another device.”
   

   Fake error message

2. Checking that the number of previous RAT installation attempts is less than three. If the limit is reached, the loader terminates and throws the following error: “Urinishlar chegarasidan oshildi. Boshqa kompyuterni tekshiring.” This translates to: “Attempt limit reached. Try another computer.”
   

   The limitCheck procedure for verifying the number of RAT download attempts

3. Downloading a remote management utility from a malicious domain and saving it to the victim’s machine. Stan Ghouls loaders typically contain a list of several domains and will iterate through them until they find one that’s live.
   

   The performanceResourceUpdate procedure for downloading the remote management utility

The loader fetches the following files, which make up the components of the NetSupport RAT: PCICHEK.DLL, client32.exe, advpack.dll, msvcr100.dll, remcmdstub.exe, ir50_qcx.dll, client32.ini, AudioCapture.dll, kbdlk41a.dll, KBDSF.DLL, tcctl32.dll, HTCTL32.DLL, kbdibm02.DLL, kbd101c.DLL, kbd106n.dll, ir50_32.dll, nskbfltr.inf, NSM.lic, pcicapi.dll, PCICL32.dll, qwave.dll. This list is hardcoded in the malicious loader’s body. To ensure the download was successful, it checks for the presence of the client32.exe executable. If the file is found, the loader generates a NetSupport launch script (run.bat), drops it into the folder with the other files, and executes it:

The loader also ensures NetSupport persistence by adding it to startup using the following three methods:

1. It creates an autorun script named SoliqUZ_Run.bat and drops it into the Startup folder (%APPDATA%\Microsoft\Windows\Start Menu\Programs\Startup):
   

   The generateAutorunScript procedure for creating the batch file and placing it in the Startup folder

2. It adds the run.bat file to the registry’s autorun key (HKCU\Software\Microsoft\Windows\CurrentVersion\Run\malicious_key_name).
   

   The registryStartupAdd procedure for adding the RAT launch script to the registry autorun key

3. It creates a scheduled task to trigger run.bat using the following command:
   schtasks Create /TN "[malicious_task_name]" /TR "[path_to_run.bat]" /SC ONLOGON /RL LIMITED /F /RU "[%USERNAME%]"
   

   The installStartupTask procedure for creating a scheduled task to launch the NetSupport RAT (via run.bat)

Once the NetSupport RAT is downloaded, installed, and executed, the attackers gain total control over the victim’s machine. While we don’t have enough telemetry to say with 100% certainty what they do once they’re in, the heavy focus on finance-related organizations suggests that the group is primarily after its victims’ money. That said, we can’t rule out cyberespionage either.

Malicious utilities for targeting IoT infrastructure

Previous Stan Ghouls attacks targeting organizations in Kyrgyzstan, as documented by Group-IB researchers, featured a NetSupport RAT configuration file client32.ini with the MD5 hash cb9c28a4c6657ae5ea810020cb214ff0. While reports mention the Kyrgyzstan campaign kicked off in June 2025, Kaspersky solutions first flagged this exact config file on May 16, 2025. At that time, it contained the following NetSupport RAT command-and-control server info:

...
[HTTP]
CMPI=60
GatewayAddress=hgame33[.]com:443
GSK=FN:L?ADAFI:F?BCPGD;N>IAO9J>J@N
Port=443
SecondaryGateway=ravinads[.]com:443
SecondaryPort=443

At the time of our January 2026 investigation, our telemetry showed that the domain specified in that config, hgame33[.]com, was also hosting the following files:

• hxxp://www.hgame33[.]com/00101010101001/morte.spc
• hxxp://hgame33[.]com/00101010101001/debug
• hxxp://www.hgame33[.]com/00101010101001/morte.x86
• hxxp://www.hgame33[.]com/00101010101001/morte.mpsl
• hxxp://www.hgame33[.]com/00101010101001/morte.arm7
• hxxp://www.hgame33[.]com/00101010101001/morte.sh4
• hxxp://hgame33[.]com/00101010101001/morte.arm
• hxxp://hgame33[.]com/00101010101001/morte.i686
• hxxp://hgame33[.]com/00101010101001/morte.arc
• hxxp://hgame33[.]com/00101010101001/morte.arm5
• hxxp://hgame33[.]com/00101010101001/morte.arm6
• hxxp://www.hgame33[.]com/00101010101001/morte.m68k
• hxxp://www.hgame33[.]com/00101010101001/morte.ppc
• hxxp://www.hgame33[.]com/00101010101001/morte.x86_64
• hxxp://hgame33[.]com/00101010101001/morte.mips

All of these files belong to the infamous IoT malware named Mirai. Since they are sitting on a server tied to the Stan Ghouls’ campaign targeting Kyrgyzstan, we can hypothesize – with a low degree of confidence – that the group has expanded its toolkit to include IoT-based threats. However, it’s also possible it simply shared its infrastructure with other threat actors who were the ones actually wielding Mirai. This theory is backed up by the fact that the domain’s registration info was last updated on July 4, 2025, at 11:46:11 – well after Stan Ghouls’ activity in May and June.

Attribution

We attribute this campaign to the Stan Ghouls (Bloody Wolf) group with a high degree of confidence, based on the following similarities to the attackers’ previous campaigns:

1. Substantial code overlaps were found within the malicious loaders. For example:
   

   Code snippet from sample 1acd4592a4eb0c66642cc7b07213e9c9584c6140210779fbc9ebb76a90738d5e, the loader from the Group-IB report

   

   Code snippet from sample 95db93454ec1d581311c832122d21b20, the NetSupport loader described here

2. Decoy documents in both campaigns look identical.
   

   Decoy document 5d840b741d1061d51d9786f8009c37038c395c129bee608616740141f3b202bb from the campaign reported by Group-IB

   

   Decoy document 106911ba54f7e5e609c702504e69c89a used in the campaign described here

3. In both current and past campaigns, the attackers utilized loaders written in Java. Given that Java has fallen out of fashion with malicious loader authors in recent years, it serves as a distinct fingerprint for Stan Ghouls.

Victims

We identified approximately 50 victims of this campaign in Uzbekistan, alongside 10 in Russia and a handful of others in Kazakhstan, Turkey, Serbia, and Belarus (we suspect the infections in these last three countries were accidental). Nearly all phishing emails and decoy files in this campaign were written in Uzbek, which aligns with the group’s track record of leveraging the native languages of their target countries.

Most of the victims are tied to industrial manufacturing, finance, and IT. Furthermore, we observed infection attempts on devices within government organizations, logistics companies, medical facilities, and educational institutions.

It is worth noting that over 60 victims is quite a high headcount for a sophisticated campaign. This suggests the attackers have enough resources to maintain manual remote control over dozens of infected devices simultaneously.

Takeaways

In this post, we’ve broken down the recent campaign by the Stan Ghouls group. The attackers set their sights on organizations in industrial manufacturing, IT, and finance, primarily located in Uzbekistan. However, the ripple effect also reached Russia, Kazakhstan, and a few, likely accidental, victims elsewhere.

With over 60 targets hit, this is a remarkably high volume for a sophisticated targeted campaign. It points to the significant resources these actors are willing to pour into their operations. Interestingly, despite this, the group sticks to a familiar toolkit including the legitimate NetSupport remote management utility and their signature custom Java-based loader. The only thing they seem to keep updating is their infrastructure. For this specific campaign, they employed two new domains to house their malicious loader and one new domain dedicated to hosting NetSupport RAT files.

One curious discovery was the presence of Mirai files on a domain linked to the group’s previous campaigns. This might suggest Stan Ghouls are branching out into IoT malware, though it’s still too early to call it with total certainty.

We’re keeping a close watch on Stan Ghouls and will continue to keep our customers in the loop regarding the group’s latest moves. Kaspersky products provide robust protection against this threat at every stage of the attack lifecycle.

Indicators of compromise

* Additional IoCs and a YARA rule for detecting Stan Ghouls activity are available to customers of our Threat Intelligence Reporting service. For more details, contact us at crimewareintel@kaspersky.com.

PDF decoys

B4FF4AA3EBA9409F9F1A5210C95DC5C3
AF9321DDB4BEF0C3CD1FF3C7C786F0E2
056B75FE0D230E6FF53AC508E0F93CCB
DB84FEBFD85F1469C28B4ED70AC6A638
649C7CACDD545E30D015EDB9FCAB3A0C
BE0C87A83267F1CE13B3F75C78EAC295
78CB3ABD00A1975BEBEDA852B2450873
51703911DC437D4E3910CE7F866C970E
FA53B0FCEF08F8FF3FFDDFEE7F1F4F1A
79D0EEAFB30AA2BD4C261A51104F6ACC
8DA8F0339D17E2466B3D73236D18B835
299A7E3D6118AD91A9B6D37F94AC685B
62AFACC37B71D564D75A58FC161900C3
047A600E3AFBF4286175BADD4D88F131
ED0CCADA1FE1E13EF78553A48260D932
C363CD87178FD660C25CDD8D978685F6
61FF22BA4C3DF7AE4A936FCFDEB020EA
B51D9EDC1DC8B6200F260589A4300009
923557554730247D37E782DB3BEA365D
60C34AD7E1F183A973FB8EE29DC454E8
0CC80A24841401529EC9C6A845609775
0CE06C962E07E63D780E5C2777A661FC

Malicious loaders

1b740b17e53c4daeed45148bfbee4f14
3f99fed688c51977b122789a094fec2e
8b0bbe7dc960f7185c330baa3d9b214c
95db93454ec1d581311c832122d21b20
646a680856f837254e6e361857458e17
8064f7ac9a5aa845ded6a1100a1d5752
d0cf8946acd3d12df1e8ae4bb34f1a6e
db796d87acb7d980264fdcf5e94757f0
e3cb4dafa1fb596e1e34e4b139be1b05
e0023eb058b0c82585a7340b6ed4cc06
0bf01810201004dcc484b3396607a483
4C4FA06BD840405FBEC34FE49D759E8D
A539A07891A339479C596BABE3060EA6
b13f7ccbedfb71b0211c14afe0815b36
f14275f8f420afd0f9a62f3992860d68
3f41091afd6256701dd70ac20c1c79fe
5c4a57e2e40049f8e8a6a74aa8085c80
7e8feb501885eff246d4cb43c468b411
8aa104e64b00b049264dc1b01412e6d9
8c63818261735ddff2fe98b3ae23bf7d

Malicious domains

mysoliq-uz[.]com
my-xb[.]com
xarid-uz[.]com
ach-uz[.]com
soliq-uz[.]com
minjust-kg[.]com
esf-kg[.]com
taxnotice-kg[.]com
notice-kg[.]com
proauditkg[.]com
kgauditcheck[.]com
servicedoc-kg[.]com
auditnotice-kg[.]com
tax-kg[.]com
rouming-uz[.]com
audit-kg[.]com
kyrgyzstanreview[.]com
salyk-notofocations[.]com

Statistics across all threats

In Q3 2025, the percentage of ICS computers on which malicious objects were blocked decreased from the previous quarter by 0.4 pp to 20.1%. This is the lowest level for the observed period.

Regionally, the percentage of ICS computers on which malicious objects were blocked ranged from 9.2% in Northern Europe to 27.4% in Africa.

In Q3 2025, the percentage increased in five regions. The most notable increase occurred in East Asia, triggered by the local spread of malicious scripts in the OT infrastructure of engineering organizations and ICS integrators.

Selected industries

The biometrics sector traditionally led the rankings of the industries and OT infrastructures surveyed in this report in terms of the percentage of ICS computers on which malicious objects were blocked.

In Q3 2025, the percentage of ICS computers on which malicious objects were blocked increased in four of the seven surveyed industries. The most notable increases were in engineering and ICS integrators, and manufacturing.

Diversity of detected malicious objects

In Q3 2025, Kaspersky protection solutions blocked malware from 11,356 different malware families of various categories on industrial automation systems.

In Q3 2025, there was a decrease in the percentage of ICS computers on which denylisted internet resources and miners of both categories were blocked. These were the only categories that exhibited a decrease.

Main threat sources

Depending on the threat detection and blocking scenario, it is not always possible to reliably identify the source. The circumstantial evidence for a specific source can be the blocked threat’s type (category).

The internet (visiting malicious or compromised internet resources; malicious content distributed via messengers; cloud data storage and processing services and CDNs), email clients (phishing emails), and removable storage devices remain the primary sources of threats to computers in an organization’s technology infrastructure.

In Q3 2025, the percentage of ICS computers on which malicious objects from various sources were blocked decreased.

The same computer can be attacked by several categories of malware from the same source during a quarter. That computer is counted when calculating the percentage of attacked computers for each threat category, but is only counted once for the threat source (we count unique attacked computers). In addition, it is not always possible to accurately determine the initial infection attempt. Therefore, the total percentage of ICS computers on which various categories of threats from a certain source were blocked can exceed the percentage of threats from the source itself.

• The main categories of threats from the internet blocked on ICS computers in Q3 2025 were malicious scripts and phishing pages, and denylisted internet resources. The percentage ranged from 4.57% in Northern Europe to 10.31% in Africa.
• The main categories of threats from email clients blocked on ICS computers were malicious scripts and phishing pages, spyware, and malicious documents. Most of the spyware detected in phishing emails was delivered as a password-protected archive or a multi-layered script embedded in an office document. The percentage of ICS computers on which threats from email clients were blocked ranged from 0.78% in Russia to 6.85% in Southern Europe.
• The main categories of threats that were blocked when removable media was connected to ICS computers were worms, viruses, and spyware. The percentage of ICS computers on which threats from this source were blocked ranged from 0.05% in Australia and New Zealand to 1.43% in Africa.
• The main categories of threats that spread through network folders were viruses, AutoCAD malware, worms, and spyware. The percentages of ICS computers where threats from this source were blocked ranged from 0.006% in Northern Europe to 0.20% in East Asia.

Threat categories

Typical attacks blocked within an OT network are multi-step sequences of malicious activities, where each subsequent step of the attackers is aimed at increasing privileges and/or gaining access to other systems by exploiting the security problems of industrial enterprises, including technological infrastructures.

Malicious objects used for initial infection

In Q3 2025, the percentage of ICS computers on which denylisted internet resources were blocked decreased to 4.01%. This is the lowest quarterly figure since the beginning of 2022.

Regionally, the percentage of ICS computers on which denylisted internet resources were blocked ranged from 2.35% in Australia and New Zealand to 4.96% in Africa. Southeast Asia and South Asia were also among the top three regions for this indicator.

The percentage of ICS computers on which malicious documents were blocked has grown for three consecutive quarters, following a decline at the end of 2024. In Q3 2025, it reached 1,98%.

The indicator increased in four regions: South America, East Asia, Southeast Asia, and Australia and New Zealand. South America saw the largest increase as a result of a large-scale phishing campaign in which attackers used new exploits for an old vulnerability (CVE-2017-11882) in Microsoft Office Equation Editor to deliver various spyware to victims’ computers. It is noteworthy that the attackers in this phishing campaign used localized Spanish-language emails disguised as business correspondence.

In Q3 2025, the percentage of ICS computers on which malicious scripts and phishing pages were blocked increased to 6.79%. This category led the rankings of threat categories in terms of the percentage of ICS computers on which they were blocked.

Regionally, the percentage of ICS computers on which malicious scripts and phishing pages were blocked ranged from 2.57% in Northern Europe to 9.41% in Africa. The top three regions for this indicator were Africa, East Asia, and South America. The indicator increased the most in East Asia (by a dramatic 5.23 pp) as a result of the local spread of malicious spyware scripts loaded into the memory of popular torrent clients including MediaGet.

Next-stage malware

Malicious objects used to initially infect computers deliver next-stage malware — spyware, ransomware, and miners — to victims’ computers. As a rule, the higher the percentage of ICS computers on which the initial infection malware is blocked, the higher the percentage for next-stage malware.
In Q3 2025, the percentage of ICS computers on which spyware and ransomware were blocked increased. The rates were:

• spyware: 4.04% (up 0.20 pp);
• ransomware: 0.17% (up 0.03 pp).

The percentage of ICS computers on which miners of both categories were blocked decreased. The rates were:

• miners in the form of executable files for Windows: 0.57% (down 0.06 pp), it’s the lowest level since Q3 2022;
• web miners: 0.25% (down 0.05 pp). This is the lowest level since Q3 2022.

Self-propagating malware

Self-propagating malware (worms and viruses) is a category unto itself. Worms and virus-infected files were originally used for initial infection, but as botnet functionality evolved, they took on next-stage characteristics.

To spread across ICS networks, viruses and worms rely on removable media and network folders in the form of infected files, such as archives with backups, office documents, pirated games and hacked applications. In rarer and more dangerous cases, web pages with network equipment settings, as well as files stored in internal document management systems, product lifecycle management (PLM) systems, resource management (ERP) systems and other web services are infected.

In Q3 2025, the percentage of ICS computers on which worms and viruses were blocked increased to 1.26% (by 0.04 pp) and 1.40% (by 0.11 pp), respectively.

AutoCAD malware

This category of malware can spread in a variety of ways, so it does not belong to a specific group.

In Q3 2025, the percentage of ICS computers on which AutoCAD malware was blocked slightly increased to 0.30% (by 0.01 pp).

For more information on industrial threats see the full version of the report.

Known since 2014, the Cloud Atlas group targets countries in Eastern Europe and Central Asia. Infections occur via phishing emails containing a malicious document that exploits an old vulnerability in the Microsoft Office Equation Editor process (CVE-2018-0802) to download and execute malicious code. In this report, we describe the infection chain and tools that the group used in the first half of 2025, with particular focus on previously undescribed implants.

Additional information about this threat, including indicators of compromise, is available to customers of the Kaspersky Intelligence Reporting Service. Contact: intelreports@kaspersky.com.

Technical details

Initial infection

The starting point is typically a phishing email with a malicious DOC(X) attachment. When the document is opened, a malicious template is downloaded from a remote server. The document has the form of an RTF file containing an exploit for the formula editor, which downloads and executes an HTML Application (HTA) file.
Fpaylo

We were unable to obtain the actual RTF template with the exploit. We assume that after a successful infection of the victim, the link to this file becomes inaccessible. In the given example, the malicious RTF file containing the exploit was downloaded from the URL hxxps://securemodem[.]com?tzak.html_anacid.

Template files, like HTA files, are located on servers controlled by the group, and their downloading is limited both in time and by the IP addresses of the victims. The malicious HTA file extracts and creates several VBS files on disk that are parts of the VBShower backdoor. VBShower then downloads and installs other backdoors: PowerShower, VBCloud, and CloudAtlas.

This infection chain largely follows the one previously seen in Cloud Atlas’ 2024 attacks. The currently employed chain is presented below:

Several implants remain the same, with insignificant changes in file names, and so on. You can find more details in our previous article on the following implants:

• HTA file
• VBShower::Launcher
• VBShower::Cleaner

In this research, we’ll focus on new and updated components.

VBShower

VBShower::Backdoor

Compared to the previous version, the backdoor runs additional downloaded VB scripts in the current context, regardless of the size. A previous modification of this script checked the size of the payload, and if it exceeded 1 MB, instead of executing it in the current context, the backdoor wrote it to disk and used the wscript utility to launch it.

VBShower::Payload (1)

The script collects information about running processes, including their creation time, caption, and command line. The collected information is encrypted and sent to the C2 server by the parent script (VBShower::Backdoor) via the v_buff variable.

VBShower::Payload (2)

The script is used to install the VBCloud implant. First, it downloads a ZIP archive from the hardcoded URL and unpacks it into the %Public% directory. Then, it creates a scheduler task named “MicrosoftEdgeUpdateTask” to run the following command line:

wscript.exe /B %Public%\Libraries\MicrosoftEdgeUpdate.vbs

It renames the unzipped file %Public%\Libraries\v.log to %Public%\Libraries\MicrosoftEdgeUpdate.vbs, iterates through the files in the %Public%\Libraries directory, and collects information about the filenames and sizes. The data, in the form of a buffer, is collected in the v_buff variable. The malware gets information about the task by executing the following command line:

cmd.exe /c schtasks /query /v /fo CSV /tn MicrosoftEdgeUpdateTask

The specified command line is executed, with the output redirected to the TMP file. Both the TMP file and the content of the v_buff variable will be sent to the C2 server by the parent script (VBShower::Backdoor).

Here is an example of the information present in the v_buff variable:

Libraries:
desktop.ini-175|
MicrosoftEdgeUpdate.vbs-2299|
RecordedTV.library-ms-999|
upgrade.mds-32840|
v.log-2299|

The file MicrosoftEdgeUpdate.vbs is a launcher for VBCloud, which reads the encrypted body of the backdoor from the file upgrade.mds, decrypts it, and executes it.

Almost the same script is used to install the CloudAtlas backdoor on an infected system. The script only downloads and unpacks the ZIP archive to "%LOCALAPPDATA%", and sends information about the contents of the directories "%LOCALAPPDATA%\vlc\plugins\access" and "%LOCALAPPDATA%\vlc" as output.

In this case, the file renaming operation is not applied, and there is no code for creating a scheduler task.

Here is an example of information to be sent to the C2 server:

vlc:
a.xml-969608|
b.xml-592960|
d.xml-2680200|
e.xml-185224||
access:
c.xml-5951488|

In fact, a.xml, d.xml, and e.xml are the executable file and libraries, respectively, of VLC Media Player. The c.xml file is a malicious library used in a DLL hijacking attack, where VLC acts as a loader, and the b.xml file is an encrypted body of the CloudAtlas backdoor, read from disk by the malicious library, decrypted, and executed.

VBShower::Payload (3)

This script is the next component for installing CloudAtlas. It is downloaded by VBShower from the C2 server as a separate file and executed after the VBShower::Payload (2) script. The script renames the XML files unpacked by VBShower::Payload (2) from the archive to the corresponding executables and libraries, and also renames the file containing the encrypted backdoor body.

These files are copied by VBShower::Payload (3) to the following paths:

File	Path
a.xml	%LOCALAPPDATA%\vlc\vlc.exe
b.xml	%LOCALAPPDATA%\vlc\chambranle
c.xml	%LOCALAPPDATA%\vlc\plugins\access\libvlc_plugin.dll
d.xml	%LOCALAPPDATA%\vlc\libvlccore.dll
e.xml	%LOCALAPPDATA%\vlc\libvlc.dll

Additionally, VBShower::Payload (3) creates a scheduler task to execute the command line: "%LOCALAPPDATA%\vlc\vlc.exe". The script then iterates through the files in the "%LOCALAPPDATA%\vlc" and "%LOCALAPPDATA%\vlc\plugins\access" directories, collecting information about filenames and sizes. The data, in the form of a buffer, is collected in the v_buff variable. The script also retrieves information about the task by executing the following command line, with the output redirected to a TMP file:

cmd.exe /c schtasks /query /v /fo CSV /tn MicrosoftVLCTaskMachine

Both the TMP file and the content of the v_buff variable will be sent to the C2 server by the parent script (VBShower::Backdoor).

VBShower::Payload (4)

This script was previously described as VBShower::Payload (1).

VBShower::Payload (5)

This script is used to check access to various cloud services and executed before installing VBCloud or CloudAtlas. It consistently accesses the URLs of cloud services, and the received HTTP responses are saved to the v_buff variable for subsequent sending to the C2 server. A truncated example of the information sent to the C2 server:

GET-https://webdav.yandex.ru|
200|
<!DOCTYPE html><html lang="ru" dir="ltr" class="desktop"><head><base href="...

VBShower::Payload (6)

This script was previously described as VBShower::Payload (2).

VBShower::Payload (7)

This is a small script for checking the accessibility of PowerShower’s C2 from an infected system.

VBShower::Payload (8)

This script is used to install PowerShower, another backdoor known to be employed by Cloud Atlas. The script does so by performing the following steps in sequence:

1. Creates registry keys to make the console window appear off-screen, effectively hiding it:
   

   "HKCU\Console\%SystemRoot%_System32_WindowsPowerShell_v1.0_powershell.exe"::"WindowPosition"::5122
   "HKCU\UConsole\taskeng.exe"::"WindowPosition"::538126692

2. Creates a “MicrosoftAdobeUpdateTaskMachine” scheduler task to execute the command line:
   

   powershell.exe -ep bypass -w 01 %APPDATA%\Adobe\AdobeMon.ps1

3. Decrypts the contents of the embedded data block with XOR and saves the resulting script to the file "%APPDATA%\Adobe\p.txt". Then, renames the file "p.txt" to "AdobeMon.ps1".
4. Collects information about file names and sizes in the path "%APPDATA%\Adobe". Gets information about the task by executing the following command line, with the output redirected to a TMP file:
   

   cmd.exe /c schtasks /query /v /fo LIST /tn MicrosoftAdobeUpdateTaskMachine

The decrypted PowerShell script is disguised as one of the standard modules, but at the end of the script, there is a command to launch the PowerShell interpreter with another script encoded in Base64.

VBShower::Payload (9)

This is a small script for collecting information about the system proxy settings.

VBCloud

On an infected system, VBCloud is represented by two files: a VB script (VBCloud::Launcher) and an encrypted main body (VBCloud::Backdoor). In the described case, the launcher is located in the file MicrosoftEdgeUpdate.vbs, and the payload — in upgrade.mds.

VBCloud::Launcher

The launcher script reads the contents of the upgrade.mds file, decodes characters delimited with “%H”, uses the RC4 stream encryption algorithm with a key built into the script to decrypt it, and transfers control to the decrypted content. It is worth noting that the implementation of RC4 uses PRGA (pseudo-random generation algorithm), which is quite rare, since most malware implementations of this algorithm skip this step.

VBCloud::Backdoor

The backdoor performs several actions in a loop to eventually download and execute additional malicious scripts, as described in the previous research.

VBCloud::Payload (FileGrabber)

Unlike VBShower, which uses a global variable to save its output or a temporary file to be sent to the C2 server, each VBCloud payload communicates with the C2 server independently. One of the most commonly used payloads for the VBCloud backdoor is FileGrabber. The script exfiltrates files and documents from the target system as described before.

The FileGrabber payload has the following limitations when scanning for files:

• It ignores the following paths:
  • Program Files
  • Program Files (x86)
  • %SystemRoot%
• The file size for archiving must be between 1,000 and 3,000,000 bytes.
• The file’s last modification date must be less than 30 days before the start of the scan.
• Files containing the following strings in their names are ignored:
  • “intermediate.txt”
  • “FlightingLogging.txt”
  • “log.txt”
  • “thirdpartynotices”
  • “ThirdPartyNotices”
  • “easylist.txt”
  • “acroNGLLog.txt”
  • “LICENSE.txt”
  • “signature.txt”
  • “AlternateServices.txt”
  • “scanwia.txt”
  • “scantwain.txt”
  • “SiteSecurityServiceState.txt”
  • “serviceworker.txt”
  • “SettingsCache.txt”
  • “NisLog.txt”
  • “AppCache”
  • “backupTest”

PowerShower

As mentioned above, PowerShower is installed via one of the VBShower payloads. This script launches the PowerShell interpreter with another script encoded in Base64. Running in an infinite loop, it attempts to access the C2 server to retrieve an additional payload, which is a PowerShell script twice encoded with Base64. This payload is executed in the context of the backdoor, and the execution result is sent to the C2 server via an HTTP POST request.

In previous versions of PowerShower, the payload created a sapp.xtx temporary file to save its output, which was sent to the C2 server by the main body of the backdoor. No intermediate files are created anymore, and the result of execution is returned to the backdoor by a normal call to the "return" operator.

PowerShower::Payload (1)

This script was previously described as PowerShower::Payload (2). This payload is unique to each victim.

PowerShower::Payload (2)

This script is used for grabbing files with metadata from a network share.

CloudAtlas

As described above, the CloudAtlas backdoor is installed via VBShower from a downloaded archive delivered through a DLL hijacking attack. The legitimate VLC application acts as a loader, accompanied by a malicious library that reads the encrypted payload from the file and transfers control to it. The malicious DLL is located at "%LOCALAPPDATA%\vlc\plugins\access", while the file with the encrypted payload is located at "%LOCALAPPDATA%\vlc\".

When the malicious DLL gains control, it first extracts another DLL from itself, places it in the memory of the current process, and transfers control to it. The unpacked DLL uses a byte-by-byte XOR operation to decrypt the block with the loader configuration. The encrypted config immediately follows the key. The config specifies the name of the event that is created to prevent a duplicate payload launch. The config also contains the name of the file where the encrypted payload is located — "chambranle" in this case — and the decryption key itself.

The library reads the contents of the "chambranle" file with the payload, uses the key from the decrypted config and the IV located at the very end of the "chambranle" file to decrypt it with AES-256-CBC. The decrypted file is another DLL with its size and SHA-1 hash embedded at the end, added to verify that the DLL is decrypted correctly. The DLL decrypted from "chambranle" is the main body of the CloudAtlas backdoor, and control is transferred to it via one of the exported functions, specifically the one with ordinal 2.

When the main body of the backdoor gains control, the first thing it does is decrypt its own configuration. Decryption is done in a similar way, using AES-256-CBC. The key for AES-256 is located before the configuration, and the IV is located right after it. The most useful information in the configuration file includes the URL of the cloud service, paths to directories for receiving payloads and unloading results, and credentials for the cloud service.

Immediately after decrypting the configuration, the backdoor starts interacting with the C2 server, which is a cloud service, via WebDAV. First, the backdoor uses the MKCOL HTTP method to create two directories: one ("/guessed/intershop/Euskalduns/") will regularly receive a beacon in the form of an encrypted file containing information about the system, time, user name, current command line, and volume information. The other directory ("/cancrenate/speciesists/") is used to retrieve payloads. The beacon file and payload files are AES-256-CBC encrypted with the key that was used for backdoor configuration decryption.

The backdoor uses the HTTP PROPFIND method to retrieve the list of files. Each of these files will be subsequently downloaded, deleted from the cloud service, decrypted, and executed.

The payload consists of data with a binary block containing a command number and arguments at the beginning, followed by an executable plugin in the form of a DLL. The structure of the arguments depends on the type of command. After the plugin is loaded into memory and configured, the backdoor calls the exported function with ordinal 1, passing several arguments: a pointer to the backdoor function that implements sending files to the cloud service, a pointer to the decrypted backdoor configuration, and a pointer to the binary block with the command and arguments from the beginning of the payload.

Before calling the plugin function, the backdoor saves the path to the current directory and restores it after the function is executed. Additionally, after execution, the plugin is removed from memory.

CloudAtlas::Plugin (FileGrabber)

FileGrabber is the most commonly used plugin. As the name suggests, it is designed to steal files from an infected system. Depending on the command block transmitted, it is capable of:

• Stealing files from all local disks
• Stealing files from the specified removable media
• Stealing files from specified folders
• Using the selected username and password from the command block to mount network resources and then steal files from them

For each detected file, a series of rules are generated based on the conditions passed within the command block, including:

• Checking for minimum and maximum file size
• Checking the file’s last modification time
• Checking the file path for pattern exclusions. If a string pattern is found in the full path to a file, the file is ignored
• Checking the file name or extension against a list of patterns

If all conditions match, the file is sent to the C2 server, along with its metadata, including attributes, creation time, last access time, last modification time, size, full path to the file, and SHA-1 of the file contents. Additionally, if a special flag is set in one of the rule fields, the file will be deleted after a copy is sent to the C2 server. There is also a limit on the total amount of data sent, and if this limit is exceeded, scanning of the resource stops.

CloudAtlas::Plugin (Common)

This is a general-purpose plugin, which parses the transferred block, splits it into commands, and executes them. Each command has its own ID, ranging from 0 to 6. The list of commands is presented below.

1. Command ID 0: Creates, sets and closes named events.
2. Command ID 1: Deletes the selected list of files.
3. Command ID 2: Drops a file on disk with content and a path selected in the command block arguments.
4. Command ID 3: Capable of performing several operations together or independently, including:
   1. Dropping several files on disk with content and paths selected in the command block arguments
   2. Dropping and executing a file at a specified path with selected parameters. This operation supports three types of launch:
   • Using the WinExec function
   • Using the ShellExecuteW function
   • Using the CreateProcessWithLogonW function, which requires that the user’s credentials be passed within the command block to launch the process on their behalf
5. Command ID 4: Uses the StdRegProv COM interface to perform registry manipulations, supporting key creation, value deletion, and value setting (both DWORD and string values).
6. Command ID 5: Calls the ExitProcess function.
7. Command ID 6: Uses the credentials passed within the command block to connect a network resource, drops a file to the remote resource under the name specified within the command block, creates and runs a VB script on the local system to execute the dropped file on the remote system. The VB script is created at "%APPDATA%\ntsystmp.vbs". The path to launch the file dropped on the remote system is passed to the launched VB script as an argument.

CloudAtlas::Plugin (PasswordStealer)

This plugin is used to steal cookies and credentials from browsers. This is an extended version of the Common Plugin, which is used for more specific purposes. It can also drop, launch, and delete files, but its primary function is to drop files belonging to the “Chrome App-Bound Encryption Decryption” open-source project onto the disk, and run the utility to steal cookies and passwords from Chromium-based browsers. After launching the utility, several files ("cookies.txt" and "passwords.txt") containing the extracted browser data are created on disk. The plugin then reads JSON data from the selected files, parses the data, and sends the extracted information to the C2 server.

CloudAtlas::Plugin (InfoCollector)

This plugin is used to collect information about the infected system. The list of commands is presented below.

1. Command ID 0xFFFFFFF0: Collects the computer’s NetBIOS name and domain information.
2. Command ID 0xFFFFFFF1: Gets a list of processes, including full paths to executable files of processes, and a list of modules (DLLs) loaded into each process.
3. Command ID 0xFFFFFFF2: Collects information about installed products.
4. Command ID 0xFFFFFFF3: Collects device information.
5. Command ID 0xFFFFFFF4: Collects information about logical drives.
6. Command ID 0xFFFFFFF5: Executes the command with input/output redirection, and sends the output to the C2 server. If the command line for execution is not specified, it sequentially launches the following utilities and sends their output to the C2 server:

net group "Exchange servers" /domain
Ipconfig
arp -a

Python script

As mentioned in one of our previous reports, Cloud Atlas uses a custom Python script named get_browser_pass.py to extract saved credentials from browsers on infected systems. If the Python interpreter is not present on the victim’s machine, the group delivers an archive that includes both the script and a bundled Python interpreter to ensure execution.

During one of the latest incidents we investigated, we once again observed traces of this tool in action, specifically the presence of the file "C:\ProgramData\py\pytest.dll".

The pytest.dll library is called from within get_browser_pass.py and used to extract credentials from Yandex Browser. The data is then saved locally to a file named y3.txt.

Victims

According to our telemetry, the identified targets of the malicious activities described here are located in Russia and Belarus, with observed activity dating back to the beginning of 2025. The industries being targeted are diverse, encompassing organizations in the telecommunications sector, construction, government entities, and plants.

Conclusion

For more than ten years, the group has carried on its activities and expanded its arsenal. Now the attackers have four implants at their disposal (PowerShower, VBShower, VBCloud, CloudAtlas), each of them a full-fledged backdoor. Most of the functionality in the backdoors is duplicated, but some payloads provide various exclusive capabilities. The use of cloud services to manage backdoors is a distinctive feature of the group, and it has proven itself in various attacks.

Indicators of compromise

Note: The indicators in this section are valid at the time of publication.

File hashes

0D309C25A835BAF3B0C392AC87504D9E    протокол (08.05.2025).doc
D34AAEB811787B52EC45122EC10AEB08    HTA
4F7C5088BCDF388C49F9CAAD2CCCDCC5    StandaloneUpdate_2020-04-13_090638_8815-145.log:StandaloneUpdate_2020-04-13_090638_8815-145cfcf.vbs
5C93AF19EF930352A251B5E1B2AC2519    StandaloneUpdate_2020-04-13_090638_8815-145.log:StandaloneUpdate_2020-04-13_090638_8815-145.dat (encrypted)
0E13FA3F06607B1392A3C3CAA8092C98    VBShower::Payload(1)
BC80C582D21AC9E98CBCA2F0637D8993    VBShower::Payload(2)
12F1F060DF0C1916E6D5D154AF925426    VBShower::Payload(3)
E8C21CA9A5B721F5B0AB7C87294A2D72    VBShower::Payload(4)
2D03F1646971FB7921E31B647586D3FB    VBShower::Payload(5)
7A85873661B50EA914E12F0523527CFA    VBShower::Payload(6)
F31CE101CBE25ACDE328A8C326B9444A    VBShower::Payload(7)
E2F3E5BF7EFBA58A9C371E2064DFD0BB    VBShower::Payload(8)
67156D9D0784245AF0CAE297FC458AAC    VBShower::Payload(9)
116E5132E30273DA7108F23A622646FE    VBCloud::Launcher
E9F60941A7CED1A91643AF9D8B92A36D    VBCloud::Payload(FileGrabber)
718B9E688AF49C2E1984CF6472B23805    PowerShower
A913EF515F5DC8224FCFFA33027EB0DD    PowerShower::Payload(2)
BAA59BB050A12DBDF981193D88079232    chambranle (encrypted)

Domains and IPs

billet-ru[.]net
mskreg[.]net
flashsupport[.]org
solid-logit[.]com
cityru-travel[.]org
transferpolicy[.]org
information-model[.]net
securemodem[.]com

Introduction

In March 2025, we discovered Operation ForumTroll, a series of sophisticated cyberattacks exploiting the CVE-2025-2783 vulnerability in Google Chrome. We previously detailed the malicious implants used in the operation: the LeetAgent backdoor and the complex spyware Dante, developed by Memento Labs (formerly Hacking Team). However, the attackers behind this operation didn’t stop at their spring campaign and have continued to infect targets within the Russian Federation.

More reports about this threat are available to customers of the Kaspersky Intelligence Reporting Service. Contact: intelreports@kaspersky.com.

Emails posing as a scientific library

In October 2025, just days before we presented our report detailing the ForumTroll APT group’s attack at the Security Analyst Summit, we detected a new targeted phishing campaign by the same group. However, while the spring cyberattacks focused on organizations, the fall campaign honed in on specific individuals: scholars in the field of political science, international relations, and global economics, working at major Russian universities and research institutions.

The emails received by the victims were sent from the address support@e-library[.]wiki. The campaign purported to be from the scientific electronic library, eLibrary, whose legitimate website is elibrary.ru. The phishing emails contained a malicious link in the format: https://e-library[.]wiki/elib/wiki.php?id=<8 pseudorandom letters and digits>. Recipients were prompted to click the link to download a plagiarism report. Clicking that link triggered the download of an archive file. The filename was personalized, using the victim’s own name in the format: <LastName>_<FirstName>_<Patronymic>.zip.

A well-prepared attack

The attackers did their homework before sending out the phishing emails. The malicious domain, e-library[.]wiki, was registered back in March 2025, over six months before the email campaign started. This was likely done to build the domain’s reputation, as sending emails from a suspicious, newly registered domain is a major red flag for spam filters.

Furthermore, the attackers placed a copy of the legitimate eLibrary homepage on https://e-library[.]wiki. According to the information on the page, they accessed the legitimate website from the IP address 193.65.18[.]14 back in December 2024.

The attackers also carefully personalized the phishing emails for their targets, specific professionals in the field. As mentioned above, the downloaded archive was named with the victim’s last name, first name, and patronymic.

Another noteworthy technique was the attacker’s effort to hinder security analysis by restricting repeat downloads. When we attempted to download the archive from the malicious site, we received a message in Russian, indicating the download link was likely for one-time use only:

Our investigation found that the malicious site displayed a different message if the download was attempted from a non-Windows device. In that case, it prompted the user to try again from a Windows computer.

The malicious archive

The malicious archives downloaded via the email links contained the following:

• A malicious shortcut file named after the victim: <LastName>_<FirstName>_<Patronymic>.lnk;
• A .Thumbs directory containing approximately 100 image files with names in Russian. These images were not used during the infection process and were likely added to make the archives appear less suspicious to security solutions.

When the user clicked the shortcut, it ran a PowerShell script. The script’s primary purpose was to download and execute a PowerShell-based payload from a malicious server.

The downloaded payload then performed the following actions:

• Contacted a URL in the format: https://e-library[.]wiki/elib/query.php?id=<8 pseudorandom letters and digits>&key=<32 hexadecimal characters> to retrieve the final payload, a DLL file.
• Saved the downloaded file to %localappdata%\Microsoft\Windows\Explorer\iconcache_<4 pseudorandom digits>.dll.
• Established persistence for the payload using COM Hijacking. This involved writing the path to the DLL file into the registry key HKCR\CLSID\{1f486a52-3cb1-48fd-8f50-b8dc300d9f9d}\InProcServer32. Notably, the attackers had used that same technique in their spring attacks.
• Downloaded a decoy PDF from a URL in the format: https://e-library[.]wiki/pdf/<8 pseudorandom letters and digits>.pdf. This PDF was saved to the user’s Downloads folder with a filename in the format: <LastName>_<FirstName>_<Patronymic>.pdf and then opened automatically.

The decoy PDF contained no valuable information. It was merely a blurred report generated by a Russian plagiarism-checking system.

At the time of our investigation, the links for downloading the final payloads didn’t work. Attempting to access them returned error messages in English: “You are already blocked…” or “You have been bad ended” (sic). This likely indicates the use of a protective mechanism to prevent payloads from being downloaded more than once. Despite this, we managed to obtain and analyze the final payload.

The final payload: the Tuoni framework

The DLL file deployed to infected devices proved to be an OLLVM-obfuscated loader, which we described in our previous report on Operation ForumTroll. However, while this loader previously delivered rare implants like LeetAgent and Dante, this time the attackers opted for a better-known commercial red teaming framework: Tuoni. Portions of the Tuoni code are publicly available on GitHub. By deploying this tool, the attackers gained remote access to the victim’s device along with other capabilities for further system compromise.

As in the previous campaign, the attackers used fastly.net as C2 servers.

Conclusion

The cyberattacks carried out by the ForumTroll APT group in the spring and fall of 2025 share significant similarities. In both campaigns, infection began with targeted phishing emails, and persistence for the malicious implants was achieved with the COM Hijacking technique. The same loader was used to deploy the implants both in the spring and the fall.

Despite these similarities, the fall series of attacks cannot be considered as technically sophisticated as the spring campaign. In the spring, the ForumTroll APT group exploited zero-day vulnerabilities to infect systems. By contrast, the autumn attacks relied entirely on social engineering, counting on victims not only clicking the malicious link but also downloading the archive and launching the shortcut file. Furthermore, the malware used in the fall campaign, the Tuoni framework, is less rare.

ForumTroll has been targeting organizations and individuals in Russia and Belarus since at least 2022. Given this lengthy timeline, it is likely this APT group will continue to target entities and individuals of interest within these two countries. We believe that investigating ForumTroll’s potential future campaigns will allow us to shed light on shadowy malicious implants created by commercial developers – much as we did with the discovery of the Dante spyware.

Indicators of compromise

e-library[.]wiki
perf-service-clients2.global.ssl.fastly[.]net
bus-pod-tenant.global.ssl.fastly[.]net
status-portal-api.global.ssl.fastly[.]net