Even if you keep your crypto assets in a cold wallet and use Apple devices — which enjoy a strong reputation for security — cybercriminals may still find a way to swipe your funds. These bad actors are combining well-known tricks into new attack chains — including baiting victims right inside the App Store.
Crypto-wallet clones
This past March, we discovered phishing apps at the top of the Chinese App Store charts with icons and names mimicking popular crypto-wallet management tools. Because regional restrictions block several official wallet apps from the Chinese App Store, attackers have stepped in to fill the void. They created fake apps using icons similar to the originals and names with intentional typos — likely to bypass App Store moderation and deceive users.
Phishing apps in the App Store appearing in search results for Ledger Wallet (formerly Ledger Live)
Beyond these, we found a number of apps with names and icons that had nothing to do with cryptocurrency. However, their promotional banners claimed they could be used to download and install official wallet apps that are otherwise unavailable in the regional App Store.
Banners on app pages claiming they can be used to download the official TokenPocket app, which is missing from the local App Store
In total, we identified 26 phishing apps mimicking the following popular wallets:
MetaMask
Ledger
Trust Wallet
Coinbase
TokenPocket
imToken
Bitpie
A few other very similar apps didn’t contain phishing functionality yet, but all signs point to them being linked to the same attackers. It’s likely they plan to add malicious features in future updates.
To get these apps cleared for the App Store, the developers added basic functionality, such as a game, a calculator, or a task planner.
Installing any of these clones is the first step toward losing your crypto assets. While the apps themselves don’t steal cryptocurrency, seed phrases, or passwords, they serve as bait that builds user trust by virtue of being listed on the official App Store. Once installed and launched, however, the app opens a phishing site in the victim’s browser, designed to look like the App Store, which then prompts the user to install a compromised version of the relevant crypto wallet. The attackers have created multiple versions of these malicious modules, each tailored to a specific wallet. You can find a detailed technical breakdown of this attack in our Securelist post.
A victim who falls for the ruse is first prompted to install a provisioning profile, which allows apps to be sideloaded onto an iPhone outside the App Store. The profile is then used to install the malicious app itself.
A fake App Store site prompting the user to install an app masquerading as Ledger Wallet
In the example above, the malware is built on the original Ledger app with integrated Trojan functionality. The app looks identical to the original, but when connected to a hardware wallet, it displays a window requiring a seed phrase, supposedly to restore access. This is not standard procedure: typically, you only need to enter a PIN — never a recovery phrase. If a victim is deceived by the app’s apparent legitimacy and enters their seed phrase, it’s immediately sent to the attackers’ server — granting them full access to the victim’s crypto assets.
Sideloading outside the App Store
A critical component of this scheme involves installing malware on the victim’s iPhone by bypassing the App Store and its verification process. This is executed much like the SparkKitty iOS infostealer we discovered previously. The attackers managed to gain access to the Apple Developer Enterprise Program. For just US$299 a year — and following an interview and corporate verification — this program allows entities to issue their own configuration profiles and apps for direct download to user devices without ever publishing them in the App Store.
To install the app, the victim must first install a configuration profile that enables the malware to be downloaded directly, bypassing the App Store. Note the green verification checkmark
In general, enterprise profiles are designed to allow organizations to deploy internal apps to employees’ devices. These apps don’t require App Store publication and can be installed on an unlimited number of devices. Unfortunately, this feature is often abused. These profiles are frequently used for software that fails to meet Apple’s policies, such as online casinos, pirated mods, and, of course, malware.
This is precisely why the fake site mimicking the Apple Store prompts the user to install a configuration profile before delivering the app signed by that profile.
Stealing cryptocurrency via macOS apps and extensions
Many crypto owners prefer managing their wallets on a computer rather than a smartphone — often choosing Macs for the task. It’s no surprise, then, that most popular macOS infostealers target crypto-wallet data in one way or another. Recently, however, a new malicious tactic has been gaining traction: in addition to stealing saved data, attackers are embedding phishing dialogs directly into legitimate wallet applications already installed on users’ computers. Earlier this year, the MacSync infostealer adopted this functionality. It infiltrates systems via ClickFix attacks: users searching for software are lured to fake sites with fraudulent instructions to install the app by running commands in Terminal. This executes the infostealer, which scrapes passwords and cookies saved in Chrome, chats from popular messengers, and data from browser-based crypto-wallet extensions.
But the most interesting part is what happens next. If the victim already has a legitimate Trezor or Ledger app installed, the infostealer downloads additional modules and… swaps out fragments of the app with its own trojanized code. The malware then re-signs the modified file so that after these “fixes” are made, Gatekeeper (a built-in protection mechanism in macOS) allows the application to run without an additional permission request from the user. While this trick doesn’t always work, it’s effective for simpler apps built on the popular Electron framework.
The trojanized app prompts the user for the seed phrase of their wallet
When the trojanized app is opened, it fakes an error and initiates a “recovery process”, prompting the user for their wallet seed phrase.
Time and again, attackers have proved that no gadget is truly invincible. With so many developers and cryptocurrency users preferring macOS and iOS, threat actors have designed and deployed industrial-scale attacks for both platforms. Staying safe requires in-depth defense backed by skepticism and vigilance.
Download apps only from trusted sources: either the developer’s official website or their App Store page. Since malware can slip even into official stores, always verify the app’s publisher.
Check the app’s rating, publication date, and download counter.
Read the reviews — especially the negative ones. Sort reviews by date to evaluate the latest version. Attackers often start with a perfectly innocent app that earns high ratings before introducing malicious functionality in a later update.
Never copy and paste commands into your Terminal unless you’re 100% certain what they do. These attacks have become very popular lately, often disguised as installation steps for AI apps like Claude Code or OpenClaw.
Use a comprehensive security system on all your computers and smartphones. We recommend Kaspersky Premium. This goes a long way to mitigate the risk of visiting phishing sites or installing malicious apps.
Never enter your seed phrase into a hardware wallet app, on a website, or in a chat. In every scenario, whether migrating to a new wallet, reinstalling apps, or recovering a wallet, the seed phrase should be entered exclusively on the hardware device itself — never in a mobile or desktop app.
Always verify the recipient’s address on the hardware wallet’s screen to prevent attacks involving address swapping.
Store your seed phrases in the most secure way possible, such as on a metal plate or in a sealed envelope in a safe deposit box. It’s best not to store them on a computer at all, but if that’s your only option, use a secure, encrypted vault like Kaspersky Password Manager.
Still believe that Apple devices are bulletproof? Think again as you read the following:
In 2025, the financial cyberthreat landscape continued to evolve. While traditional PC banking malware declined in relative prevalence, this shift was offset by the rapid growth of credential theft by infostealers. Attackers increasingly relied on aggregation and reuse of stolen data, rather than developing entirely new malware capabilities.
To describe the financial threat landscape in 2025, we analyzed anonymized data on malicious activities detected on the devices of Kaspersky security product users and consensually provided to us through the Kaspersky Security Network (KSN), along with publicly available data and data on the dark web.
We analyzed the data for
financial phishing,
banking malware,
infostealers and the dark web.
Key findings
Phishing
Phishing activity in 2025 shifted toward e-commerce (14.17%) and digital services (16.15%), with attackers increasingly tailoring campaigns to regional trends and user behavior, making social engineering more targeted despite reduced focus on traditional banking lures.
Banking malware
Financial PC malware declined in prevalence but remained a persistent threat, with established families continuing to operate, while attackers increasingly prioritize credential access and indirect fraud over deploying complex banking Trojans. To the contrary, mobile banking malware continues growing, as we wrote in detail in our mobile malware report.
Infostealers and the dark web
Infostealers became a central driver of financial cybercrime, fueling a growing dark web economy where stolen credentials, payment data, and full identity profiles are traded at scale, enabling widespread and destructive fraud operations.
Financial phishing
In 2025, online fraudsters continued to lure users to phishing and scam pages that mimicked the websites of popular brands and financial organizations. Attackers leveraged increasingly convincing social engineering techniques and brand impersonation to exploit user trust. Rather than relying solely on volume, campaigns showed greater targeting and contextual adaptation, reflecting a maturation of phishing operations.
The distribution of top phishing categories in 2025 shows a clear shift toward digital platforms that aggregate multiple user activities, with web services (16.15%), online games (14.58%), and online stores (14.17%) leading globally. Compared to 2024, the rise of online games and the decline of social networks and banks indicate that attackers are increasingly targeting environments where users are more likely to take a risk or engage impulsively. Categories such as instant messaging apps and global internet portals remain significant phishing targets, reflecting their role as communication and access hubs that can be exploited for credential harvesting.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices, 2025 (download)
Regional patterns further reinforce the adaptive nature of phishing campaigns, showing that attackers closely align category targeting with local digital habits. For example, online stores dominate heavily in the Middle East.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in the Middle East, 2025 (download)
Online games and instant messaging platforms feature more prominently in the CIS, suggesting a focus on younger or highly connected user bases.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in the CIS, 2025 (download)
APAC demonstrates almost equal shares of online games and banks which signifies a combined approach targeting different users.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in APAC, 2025 (download)
In Africa, a stronger emphasis on banks reflects the continued importance of traditional financial services. Most likely, this is due to the lower security level of the financial institutions in the region.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Africa, 2025 (download)
Whereas in LATAM, delivery companies appearing in the top categories indicate attackers exploiting the growth of e-commerce logistics.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Latin America, 2025 (download)
Europe presents a more balanced distribution across categories, pointing to diversified attack strategies.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Europe, 2025 (download)
Attackers actively localize their tactics to maximize relevance and effectiveness.
The distribution of financial phishing pages by category in 2025 reveals strong regional asymmetries that reflect both user behavior and attacker prioritization.
Globally, online stores dominated (48.45%), followed by banks (26.05%) and payment systems (25.50%). The decline in bank phishing may suggest that these services are becoming increasingly difficult to successfully impersonate, so fraudsters are turning to easier ways to access users’ finances.
However, this balance shifts significantly at the regional level.
In the Middle East, phishing is overwhelmingly concentrated on e-commerce (85.8%), indicating a heavy reliance on online retail lures, whereas in Africa, bank-related phishing leads (53.75%), which may indicate that user account security there is still insufficient. LATAM shows a more balanced distribution but with a higher share of online store targeting (46.30%), while APAC and Europe display a more even spread across all three categories, pointing to diversified attack strategies. These variations suggest that attackers are not operating uniformly but are instead adapting campaigns to regional digital habits, payment ecosystems, and trust patterns – maximizing effectiveness by aligning phishing content with the most commonly used financial services in each market.
Distribution of financial phishing pages by category and region, 2025 (download)
Online shopping scams
The distribution of organizations mimicked by phishing and scam pages in 2025 highlights a clear shift toward globally recognized digital service and e-commerce brands, with attackers prioritizing platforms that have large, active user bases and frequent payment interactions.
Netflix (28.42%) solidified its ranking as the most impersonated brand, followed by Apple (20.55%), Spotify (18.09%), and Amazon (17.85%). This reflects a move away from traditional retail-only targets toward subscription-based and ecosystem-driven services.
TOP 10 online shopping brands mimicked by phishing and scam pages, 2025 (download)
Regionally, this trend varies: Netflix dominates heavily in the Middle East, Apple leads in APAC, while Spotify ranks first across Europe, LATAM, and Africa. Although most of the top platforms are highly popular across different regions, we may suggest that the attackers tailor brand impersonation to regional popularity and user engagement.
Payment system phishing
Phishing campaigns are impersonating multiple payment ecosystems to maximize coverage. While PayPal was the most mimicked in 2024 with 37.53%, its share dropped to 14.10% in 2025. Mastercard, on the contrary, attracted cybercriminals’ attention, its share increasing from 30.54% to 33.45%, while Visa accounted for a significant 20.06% (last year, it wasn’t in the TOP 5), reinforcing the growing focus on widely used banking card networks. The continued presence of American Express (3.87%) and the increasing number of pages mimicking PayPay (11.72%) further highlight attacker experimentation and regional adaptation.
TOP 5 payment systems mimicked by phishing and scam pages, 2025 (download)
Financial malware
In 2025, the decline in users affected by financial PC malware continued. On the one hand, people continue to rely on mobile devices to manage their finances. On the other hand, some of the most prominent malware families that were initially designed as bankers had not used this functionality for years, so we excluded them from these statistics.
Changes in the number of unique users attacked by banking malware, by month, 2023–2025 (download)
Windows systems remained the primary platform targeted by attackers with financial malware. According to Kaspersky Security Bulletin, overall detections included 1,338,357 banking Trojan attacks globally from November 2024 to October 2025, though this number is also declining due to increasing focus on mobile vectors. Desktop threats continued to be distributed via traditional delivery methods like malicious emails, compromised websites, and droppers.
In 2025, Brazilian-origin families such as Grandoreiro (part of the Tetrade group) stood out for their constant activity and global reach. Despite a major law enforcement disruption in early 2024, Grandoreiro remained active in 2025, re-emerging with updated variants and continuing to operate. Other notable actors included Coyote and emerging families like Maverick, which abused WhatsApp for distribution while maintaining fileless techniques and overlaps with established Brazilian banking malware to steal credentials and enable fraudulent transactions on desktop banking platforms. Besides traditional bankers, other Brazilian malware families are worth mentioning, which specifically target relatively new and highly popular regional payment systems. One of the most prominent threats among these is GoPix Trojan focusing on the users of Brazilian Pix payment system. It is also capable of targeting local Boleto payment method, as well as stealing cryptocurrency.
There was also a surge in incidents in 2025 in which fraudsters targeted organizations through electronic document management (EDM) systems, for example, by substituting invoice details to trick victims into transferring funds. The Pure Trojan was most frequently encountered in such attacks. Attackers typically distribute it through targeted emails, using abbreviations of document names, software titles, or other accounting-related keywords in the headers of attached files. Globally in the corporate segment, Pure was detected 896 633 times over 2025, with over 64 thousand users attacked.
Contrary to PC banking malware, mobile banker attacks grew by 1.5 times in 2025 compared to the previous reporting period, which is consistent with their growth in 2024. They also saw a sharp surge in the number of unique installation packages. More statistics and trends on mobile banking malware can be found in our yearly mobile threat report.
Complementing traditional financial malware, infostealers played a significant role in enabling financial crime both on PCs and mobile devices by harvesting credentials, cookies, and autofill data from browsers and applications, which attackers then used for account takeovers or direct banking fraud. Kaspersky analyses pointed to a surge in infostealer detections (up by 59% globally on PCs), fueling credential-based attacks.
Financial cyberthreats on the dark web
The Kaspersky Digital Footprint Intelligence (DFI) team closely monitors infostealer activity on both PC and mobile devices to analyze emerging trends and assess the evolving tactics of cybercriminals.
Fraudsters especially target financial data such as payment cards, cryptocurrency wallets, login credentials and cookies for banking services, as well as documents stored on the victim’s device. The stolen data is collected in log files and shared on dark web resources, where they are bought, sold, or distributed freely and then used for financial fraud.
With access to financial data, fraudsters can gain control of users’ bank accounts and payment cards, and withdraw funds. Compromised accounts and cards are also frequently used in subsequent activities, turning the victims into intermediaries in a fraud scheme.
Compromised accounts
Kaspersky DFI found that in 2025, over one million online banking accounts (these are not Kaspersky product users) served by the world’s 100 largest banks fell victim to infostealers: their credentials were being freely shared on the dark web.
The countries with the highest median number of compromised accounts per bank were India, Spain, and Brazil.
The chart below shows the median number of compromised accounts per bank for the TOP 10 countries.
TOP 10 countries with the highest compromised account median (download)
Compromised payment cards
Seventy-four percent of payment cards that were compromised by infostealer malware, published on dark web resources and identified by the Digital Footprint Intelligence team in 2025, remained valid as of March 2026. This means that attackers could still use the cards that had been stolen months or even years prior.
It should be noted that the number of bank accounts and payment cards known to have been compromised by infostealers in 2025 will continue to rise, because fraudsters do not publish the log files immediately after the compromise but only after a delay of months or even years.
Data breaches
Regardless of the industry in which the target company operates, data breaches often expose users’ financial data, including payment card information, bank account details, transaction histories and other financial information. As a consequence, the compromised databases are sold and distributed on underground resources.
It should be noted that the threat is not limited to the exposure of financial information alone. Various identity documents and even seemingly public data, such as names, phone numbers and email addresses, can become a risk when they are published on the dark web. Such data attracts fraudsters’ attention and can be used in social engineering attacks to gain access to the user’s financial assets.
An example of a post offering a database
Sale of bank accounts and payment cards
The dark web often features services provided by stores that specialize in selling bank accounts and payment cards. Fraudsters typically obtain data for sale from a variety of sources, including infostealer logs and leaked databases, which are first repackaged and then combined.
Examples of a post (top) and a site (bottom) offering payment cards
Often, sellers offer complete victim profiles, referred to by fraudsters as “fullz”. These include not only bank accounts or payment cards but also identification documents, dates of birth, residential addresses, and other personal details. A full‑information package is usually more expensive than a payment card or a bank account alone.
Examples of a post (top) and a site (bottom) offering bank accounts
Compiled databases
Fraudsters exploit various sources, including previously leaked databases, to compile new, thematic ones. Finance- and, in particular, cryptocurrency-related databases, are among the most popular. Compilations aimed at specific user groups, such as the elderly or wealthy people, are also of interest to cybercriminals.
Usually, thematic databases contain personal information about users, such as names, phone numbers, and email addresses. Fraudsters can use this data to launch social engineering attacks.
An example of a message offering compiled databases
Creation of phishing websites
Phishing websites have become a powerful tool for the financial enrichment of fraudsters. Cybercriminals create fraudulent sites that masquerade as legitimate resources of companies operating in various industries. Gambling and retail sites remain among the most popular targets.
In order to obtain personal and financial information from unsuspecting users, adversaries seek out ways to create such phishing websites. Ready-made layouts and website copies are sold on the dark web and advertised as profitable tools. Moreover, fraudsters offer phishing website creation services.
Examples of posts offering creation of phishing websites
Conclusion
The decline of traditional PC banking malware is not an indicator of reduced risk; rather, it highlights a redistribution of attacker effort toward more efficient methods targeting mobile devices, credential theft, and social engineering. Infostealers, in particular, are a force multiplier, enabling widespread compromise at scale.
Looking ahead to 2026, the financial threat landscape is expected to become even more data-driven and automated. Organizations must adapt by focusing on identity protection, real-time monitoring, and cross-channel threat intelligence, while users must remain vigilant against increasingly sophisticated and personalized attack techniques.
In 2025, the financial cyberthreat landscape continued to evolve. While traditional PC banking malware declined in relative prevalence, this shift was offset by the rapid growth of credential theft by infostealers. Attackers increasingly relied on aggregation and reuse of stolen data, rather than developing entirely new malware capabilities.
To describe the financial threat landscape in 2025, we analyzed anonymized data on malicious activities detected on the devices of Kaspersky security product users and consensually provided to us through the Kaspersky Security Network (KSN), along with publicly available data and data on the dark web.
We analyzed the data for
financial phishing,
banking malware,
infostealers and the dark web.
Key findings
Phishing
Phishing activity in 2025 shifted toward e-commerce (14.17%) and digital services (16.15%), with attackers increasingly tailoring campaigns to regional trends and user behavior, making social engineering more targeted despite reduced focus on traditional banking lures.
Banking malware
Financial PC malware declined in prevalence but remained a persistent threat, with established families continuing to operate, while attackers increasingly prioritize credential access and indirect fraud over deploying complex banking Trojans. To the contrary, mobile banking malware continues growing, as we wrote in detail in our mobile malware report.
Infostealers and the dark web
Infostealers became a central driver of financial cybercrime, fueling a growing dark web economy where stolen credentials, payment data, and full identity profiles are traded at scale, enabling widespread and destructive fraud operations.
Financial phishing
In 2025, online fraudsters continued to lure users to phishing and scam pages that mimicked the websites of popular brands and financial organizations. Attackers leveraged increasingly convincing social engineering techniques and brand impersonation to exploit user trust. Rather than relying solely on volume, campaigns showed greater targeting and contextual adaptation, reflecting a maturation of phishing operations.
The distribution of top phishing categories in 2025 shows a clear shift toward digital platforms that aggregate multiple user activities, with web services (16.15%), online games (14.58%), and online stores (14.17%) leading globally. Compared to 2024, the rise of online games and the decline of social networks and banks indicate that attackers are increasingly targeting environments where users are more likely to take a risk or engage impulsively. Categories such as instant messaging apps and global internet portals remain significant phishing targets, reflecting their role as communication and access hubs that can be exploited for credential harvesting.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices, 2025 (download)
Regional patterns further reinforce the adaptive nature of phishing campaigns, showing that attackers closely align category targeting with local digital habits. For example, online stores dominate heavily in the Middle East.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in the Middle East, 2025 (download)
Online games and instant messaging platforms feature more prominently in the CIS, suggesting a focus on younger or highly connected user bases.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in the CIS, 2025 (download)
APAC demonstrates almost equal shares of online games and banks which signifies a combined approach targeting different users.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in APAC, 2025 (download)
In Africa, a stronger emphasis on banks reflects the continued importance of traditional financial services. Most likely, this is due to the lower security level of the financial institutions in the region.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Africa, 2025 (download)
Whereas in LATAM, delivery companies appearing in the top categories indicate attackers exploiting the growth of e-commerce logistics.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Latin America, 2025 (download)
Europe presents a more balanced distribution across categories, pointing to diversified attack strategies.
TOP 10 categories of organizations mimicked by phishing and scam pages that were blocked on home users’ devices in Europe, 2025 (download)
Attackers actively localize their tactics to maximize relevance and effectiveness.
The distribution of financial phishing pages by category in 2025 reveals strong regional asymmetries that reflect both user behavior and attacker prioritization.
Globally, online stores dominated (48.45%), followed by banks (26.05%) and payment systems (25.50%). The decline in bank phishing may suggest that these services are becoming increasingly difficult to successfully impersonate, so fraudsters are turning to easier ways to access users’ finances.
However, this balance shifts significantly at the regional level.
In the Middle East, phishing is overwhelmingly concentrated on e-commerce (85.8%), indicating a heavy reliance on online retail lures, whereas in Africa, bank-related phishing leads (53.75%), which may indicate that user account security there is still insufficient. LATAM shows a more balanced distribution but with a higher share of online store targeting (46.30%), while APAC and Europe display a more even spread across all three categories, pointing to diversified attack strategies. These variations suggest that attackers are not operating uniformly but are instead adapting campaigns to regional digital habits, payment ecosystems, and trust patterns – maximizing effectiveness by aligning phishing content with the most commonly used financial services in each market.
Distribution of financial phishing pages by category and region, 2025 (download)
Online shopping scams
The distribution of organizations mimicked by phishing and scam pages in 2025 highlights a clear shift toward globally recognized digital service and e-commerce brands, with attackers prioritizing platforms that have large, active user bases and frequent payment interactions.
Netflix (28.42%) solidified its ranking as the most impersonated brand, followed by Apple (20.55%), Spotify (18.09%), and Amazon (17.85%). This reflects a move away from traditional retail-only targets toward subscription-based and ecosystem-driven services.
TOP 10 online shopping brands mimicked by phishing and scam pages, 2025 (download)
Regionally, this trend varies: Netflix dominates heavily in the Middle East, Apple leads in APAC, while Spotify ranks first across Europe, LATAM, and Africa. Although most of the top platforms are highly popular across different regions, we may suggest that the attackers tailor brand impersonation to regional popularity and user engagement.
Payment system phishing
Phishing campaigns are impersonating multiple payment ecosystems to maximize coverage. While PayPal was the most mimicked in 2024 with 37.53%, its share dropped to 14.10% in 2025. Mastercard, on the contrary, attracted cybercriminals’ attention, its share increasing from 30.54% to 33.45%, while Visa accounted for a significant 20.06% (last year, it wasn’t in the TOP 5), reinforcing the growing focus on widely used banking card networks. The continued presence of American Express (3.87%) and the increasing number of pages mimicking PayPay (11.72%) further highlight attacker experimentation and regional adaptation.
TOP 5 payment systems mimicked by phishing and scam pages, 2025 (download)
Financial malware
In 2025, the decline in users affected by financial PC malware continued. On the one hand, people continue to rely on mobile devices to manage their finances. On the other hand, some of the most prominent malware families that were initially designed as bankers had not used this functionality for years, so we excluded them from these statistics.
Changes in the number of unique users attacked by banking malware, by month, 2023–2025 (download)
Windows systems remained the primary platform targeted by attackers with financial malware. According to Kaspersky Security Bulletin, overall detections included 1,338,357 banking Trojan attacks globally from November 2024 to October 2025, though this number is also declining due to increasing focus on mobile vectors. Desktop threats continued to be distributed via traditional delivery methods like malicious emails, compromised websites, and droppers.
In 2025, Brazilian-origin families such as Grandoreiro (part of the Tetrade group) stood out for their constant activity and global reach. Despite a major law enforcement disruption in early 2024, Grandoreiro remained active in 2025, re-emerging with updated variants and continuing to operate. Other notable actors included Coyote and emerging families like Maverick, which abused WhatsApp for distribution while maintaining fileless techniques and overlaps with established Brazilian banking malware to steal credentials and enable fraudulent transactions on desktop banking platforms. Besides traditional bankers, other Brazilian malware families are worth mentioning, which specifically target relatively new and highly popular regional payment systems. One of the most prominent threats among these is GoPix Trojan focusing on the users of Brazilian Pix payment system. It is also capable of targeting local Boleto payment method, as well as stealing cryptocurrency.
There was also a surge in incidents in 2025 in which fraudsters targeted organizations through electronic document management (EDM) systems, for example, by substituting invoice details to trick victims into transferring funds. The Pure Trojan was most frequently encountered in such attacks. Attackers typically distribute it through targeted emails, using abbreviations of document names, software titles, or other accounting-related keywords in the headers of attached files. Globally in the corporate segment, Pure was detected 896 633 times over 2025, with over 64 thousand users attacked.
Contrary to PC banking malware, mobile banker attacks grew by 1.5 times in 2025 compared to the previous reporting period, which is consistent with their growth in 2024. They also saw a sharp surge in the number of unique installation packages. More statistics and trends on mobile banking malware can be found in our yearly mobile threat report.
Complementing traditional financial malware, infostealers played a significant role in enabling financial crime both on PCs and mobile devices by harvesting credentials, cookies, and autofill data from browsers and applications, which attackers then used for account takeovers or direct banking fraud. Kaspersky analyses pointed to a surge in infostealer detections (up by 59% globally on PCs), fueling credential-based attacks.
Financial cyberthreats on the dark web
The Kaspersky Digital Footprint Intelligence (DFI) team closely monitors infostealer activity on both PC and mobile devices to analyze emerging trends and assess the evolving tactics of cybercriminals.
Fraudsters especially target financial data such as payment cards, cryptocurrency wallets, login credentials and cookies for banking services, as well as documents stored on the victim’s device. The stolen data is collected in log files and shared on dark web resources, where they are bought, sold, or distributed freely and then used for financial fraud.
With access to financial data, fraudsters can gain control of users’ bank accounts and payment cards, and withdraw funds. Compromised accounts and cards are also frequently used in subsequent activities, turning the victims into intermediaries in a fraud scheme.
Compromised accounts
Kaspersky DFI found that in 2025, over one million online banking accounts (these are not Kaspersky product users) served by the world’s 100 largest banks fell victim to infostealers: their credentials were being freely shared on the dark web.
The countries with the highest median number of compromised accounts per bank were India, Spain, and Brazil.
The chart below shows the median number of compromised accounts per bank for the TOP 10 countries.
TOP 10 countries with the highest compromised account median (download)
Compromised payment cards
Seventy-four percent of payment cards that were compromised by infostealer malware, published on dark web resources and identified by the Digital Footprint Intelligence team in 2025, remained valid as of March 2026. This means that attackers could still use the cards that had been stolen months or even years prior.
It should be noted that the number of bank accounts and payment cards known to have been compromised by infostealers in 2025 will continue to rise, because fraudsters do not publish the log files immediately after the compromise but only after a delay of months or even years.
Data breaches
Regardless of the industry in which the target company operates, data breaches often expose users’ financial data, including payment card information, bank account details, transaction histories and other financial information. As a consequence, the compromised databases are sold and distributed on underground resources.
It should be noted that the threat is not limited to the exposure of financial information alone. Various identity documents and even seemingly public data, such as names, phone numbers and email addresses, can become a risk when they are published on the dark web. Such data attracts fraudsters’ attention and can be used in social engineering attacks to gain access to the user’s financial assets.
An example of a post offering a database
Sale of bank accounts and payment cards
The dark web often features services provided by stores that specialize in selling bank accounts and payment cards. Fraudsters typically obtain data for sale from a variety of sources, including infostealer logs and leaked databases, which are first repackaged and then combined.
Examples of a post (top) and a site (bottom) offering payment cards
Often, sellers offer complete victim profiles, referred to by fraudsters as “fullz”. These include not only bank accounts or payment cards but also identification documents, dates of birth, residential addresses, and other personal details. A full‑information package is usually more expensive than a payment card or a bank account alone.
Examples of a post (top) and a site (bottom) offering bank accounts
Compiled databases
Fraudsters exploit various sources, including previously leaked databases, to compile new, thematic ones. Finance- and, in particular, cryptocurrency-related databases, are among the most popular. Compilations aimed at specific user groups, such as the elderly or wealthy people, are also of interest to cybercriminals.
Usually, thematic databases contain personal information about users, such as names, phone numbers, and email addresses. Fraudsters can use this data to launch social engineering attacks.
An example of a message offering compiled databases
Creation of phishing websites
Phishing websites have become a powerful tool for the financial enrichment of fraudsters. Cybercriminals create fraudulent sites that masquerade as legitimate resources of companies operating in various industries. Gambling and retail sites remain among the most popular targets.
In order to obtain personal and financial information from unsuspecting users, adversaries seek out ways to create such phishing websites. Ready-made layouts and website copies are sold on the dark web and advertised as profitable tools. Moreover, fraudsters offer phishing website creation services.
Examples of posts offering creation of phishing websites
Conclusion
The decline of traditional PC banking malware is not an indicator of reduced risk; rather, it highlights a redistribution of attacker effort toward more efficient methods targeting mobile devices, credential theft, and social engineering. Infostealers, in particular, are a force multiplier, enabling widespread compromise at scale.
Looking ahead to 2026, the financial threat landscape is expected to become even more data-driven and automated. Organizations must adapt by focusing on identity protection, real-time monitoring, and cross-channel threat intelligence, while users must remain vigilant against increasingly sophisticated and personalized attack techniques.
We recently discussed how malicious actors are spreading the AMOS infostealer for macOS via Google Ads, leveraging a chat with an AI assistant on the actual OpenAI website to host malicious instructions. We decided to dig a little deeper, only to discover several similar malicious campaigns where attackers attempt to slip users malware disguised as popular AI tools through Google Search ads. If the victims are searching for macOS-specific tools, the payload deployed is the very same AMOS; if they’re on Windows, it’s the Amatera infostealer instead. These campaigns use the popular Chinese AI Doubao, the viral AI assistant OpenClaw, or the coding assistant Claude Code as bait. This means such campaigns pose a threat not only to home users but also to organizations.
The reality is that corporate employees are increasingly using coding assistants like Claude Code, and workflow automation agents like OpenClaw. This brings its own set of risks, which is why many organizations have yet to officially approve (or pay for) access to such tools. Consequently, some employees take matters into their own hands to find these trendy tools, and head straight to Google. They type in a search query and are served a sponsored link leading to a malicious installation guide. Let’s take a closer look at how this attack plays out, using a Claude Code distribution campaign discovered in early March as an example.
The search query
So, a user starts looking for a place to download the Anthropic agent and types something like “Claude Code download” into the search bar. The search engine returns a list of links, with “sponsored links” (paid advertisements) sitting at the top. One of these ads leads the user to a malicious page featuring fake documentation. Interestingly, the site itself is built on Squarespace, a legitimate website builder that helps it bypass anti-phishing filters.
Search results with ads in Romania and Brazil
The attackers’ site meticulously mimics the original Claude Code documentation, complete with installation instructions. Just like the real deal, it prompts the user to copy and run a command. However, once executed, it installs not an AI agent but malware. Essentially, this is just another flavor of the ClickFix attack — one that has earned its own nickname: InstallFix.
Malicious site mimicking installation instructions
Genuine Claude Code site with installation instructions
Malicious payload
Just like with the original Claude Code, the command for macOS attempts to install an application using the curl command-line utility. In reality, it deploys the AMOS spyware — previously described by our experts on Securelist — which was used in a similar past campaign.
In the case of Windows, the malware is installed using the system utility mshta.exe, which executes HTML-based applications instead of curl, which is used for the genuine Claude Code. This utility deploys the Amatera infostealer, which harvests browser data, crypto-wallet info, as well as information from the user folder, and sends it to a remote server at 144{.}124.235.102.
How to keep your company safe
Interest in AI agents continues to grow, and the emergence of new tools and their rising popularity are creating fresh attack vectors. Specifically, attempting to seek out third-party AI tools can not only jeopardize the source code of projects on the victim’s computer but also lead to the compromise of secrets, confidential corporate files, and user accounts.
To prevent this from happening, the first step should be educating employees about these dangers and the tricks used by threat actors. This can be done using our training platform: Kaspersky Automated Security Awareness. Incidentally, it includes a specialized lesson on the use of AI in corporate environments.
In October 2025, we discovered a series of forum posts advertising a previously unknown stealer, dubbed “Arkanix Stealer” by its authors. It operated under a MaaS (malware-as-a-service) model, providing users not only with the implant but also with access to a control panel featuring configurable payloads and statistics. The set of implants included a publicly available browser post-exploitation tool known as ChromElevator, which was delivered by a native C++ version of the stealer. This version featured a wide range of capabilities, from collecting system information to stealing cryptocurrency wallet data. Alongside that, we have also discovered Python implementation of the stealer capable of dynamically modifying its configuration. The Python version was often packed, thus giving the adversary multiple methods for distributing their malware. It is also worth noting that Arkanix was rather a one-shot malicious campaign: at the time of writing this article, the affiliate program appears to be already taken down.
Kaspersky products detect this threat as Trojan-PSW.Win64.Coins.*, HEUR:Trojan-PSW.Multi.Disco.gen, Trojan.Python.Agent.*.
Technical details
Background
In October 2025, a series of posts was discovered on various dark web forums, advertising a stealer referred to by its author as “Arkanix Stealer”. These posts detail the features of the stealer and include a link to a Discord server, which serves as the primary communication channel between the author and the users of the stealer.
Example of an Arkanix Stealer advertisement
Upon further research utilizing public resources, we identified a set of implants associated with this stealer.
Initial infection or spreading
The initial infection vector remains unknown. However, based on some of the file names (such as steam_account_checker_pro_v1.py, discord_nitro_checker.py, and TikTokAccountBotter.exe) of the loader scripts we obtained, it can be concluded with high confidence that the initial infection vector involved phishing.
Python loader
MD5
208fa7e01f72a50334f3d7607f6b82bf
File name
discord_nitro_code_validator_right_aligned.py
The Python loader is the script responsible for downloading and executing the Python-based version of the Arkanix infostealer. We have observed both plaintext Python scripts and those bundled using PyInstaller or Nuitka, all of which share a common execution vector and are slightly obfuscated. These scripts often serve as decoys, initially appearing to contain legitimate code. Some of them do have useful functionality, and others do nothing apart from loading the stealer. Additionally, we have encountered samples that employ no obfuscation at all, in which the infostealer is launched in a separate thread via Python’s built-in threading module.
Variants of Python loaders executing the next stage
Upon execution, the loader first installs the required packages — namely, requests, pycryptodome, and psutil — via the pip package manager, utilizing the subprocess module. On Microsoft Windows systems, the loader also installs pywin32. In some of the analyzed samples, this process is carried out twice. Since the loader does not perform any output validation of the module installation command, it proceeds to make a POST request to hxxps://arkanix[.]pw/api/session/create to register the current compromised machine on the panel with a predefined set of parameters even if the installation failed. After that, the stealer makes a GET request to hxxps://arkanix[.]pw/stealer.py and executes the downloaded payload.
Python stealer version
MD5
af8fd03c1ec81811acf16d4182f3b5e1
File name
–
During our research, we obtained a sample of the Python implementation of the Arkanix stealer, which was downloaded from the endpoint hxxps://arkanix[.]pw/stealer.py by the previous stage.
The stealer’s capabilities — or features, as referred to by the author — in this version are configurable, with the default configuration predefined within the script file. To dynamically update the feature list, the stealer makes a GET request to hxxps://arkanix[.]pw/api/features/{payload_id}, indicating that these capabilities can be modified on the panel side. The feature list is identical to the one that was described in the GDATA report.
Configurable options
Prior to executing the information retrieval-related functions, the stealer makes a request to hxxps://arkanix[.]pw/upload_dropper.py, saves the response to %TEMP%\upd_{random 8-byte name}.py, and executes it. We do not have access to the contents of this script, which is referred to as the “dropper” by the attackers.
During its main information retrieval routine, at the end of each processing stage, the collected information is serialized into JSON format and saved to a predefined path, such as %LOCALAPPDATA\Arkanix_lol\%info_class%.json.
In the following, we will provide a more detailed description of the Python version’s data collection features.
System info collection
Arkanix Stealer is capable of collecting a set of info about the compromised system. This info includes:
OS version
CPU and GPU info
RAM size
Screen resolution
Keyboard layout
Time zone
Installed software
Antivirus software
VPN
Information collection is performed using standard shell commands with the exception of the VPN check. The latter is implemented by querying the endpoint hxxps://ipapi[.]co/json/ and verifying whether the associated IP address belongs to a known set of VPNs, proxies, or Tor exit nodes.
Browser features
This stealer is capable of extracting various types of data from supported browsers (22 in total, ranging from the widely popular Google Chrome to the Tor Browser). The list of supported browsers is hardcoded, and unlike other parameters, it cannot be modified during execution. In addition to a separate Chrome grabber module (which we’ll discuss later), the stealer itself supports the extraction of diverse information, such as:
Browser history (URLs, visit count and last visit)
Autofill information (email, phone, addresses and payment cards details)
Saved passwords
Cookies
In case of Chromium-based browsers, 0Auth2 data is also extracted
All information is decrypted using either the Windows DPAPI or AES, where applicable, and searched for relevant keywords. In the case of browser information collection, the stealer searches exclusively for keywords related to banking (e.g., “revolut”, “stripe”, “bank”) and cryptocurrencies (e.g., “binance”, “metamask”, “wallet”). In addition to this, the stealer is capable of extracting extension data from a hardcoded list of extensions associated with cryptocurrencies.
Part of the extension list which the stealer utilizes to extract data from
Telegram info collection
Telegram data collection begins with terminating the Telegram.exe process using the taskkill command. Subsequently, if the telegram_optimized feature is set to False, the malware zips the entire tdata directory (typically located at %APPDATA%\Roaming\Telegram Desktop\tdata) and transmits it to the attacker. Otherwise, it selectively copies and zips only the subdirectories containing valuable info, such as message log. The generated archive is sent to the endpoint /delivery with the filename tdata_session.zip.
Discord capabilities
The stealer includes two features connected with Discord: credentials stealing and self-spreading. The first one can be utilized to acquire credentials both from the standard client and custom clients. If the client is Chromium-based, the stealer employs the same data exfiltration mechanism as during browser credentials stealing.
The self-spreading feature is configurable (meaning it can be disabled in the config). The stealer acquires the list of user’s friends and channels via the Discord API and sends a message provided by the attacker. This stealer does not support attaching files to such messages.
VPN data collection
The VPN collector is searching for a set of known VPN software to extract account credentials from the credentials file with a known path that gets parsed with a regular expression. The extraction occurs from the following set of applications:
Mullvad VPN
NordVPN
ExpressVPN
ProtonVPN
File retrieval
File retrieval is performed regardless of the configuration. The script relies on a predefined set of paths associated with the current user (such as Desktop, Download, etc.) and file extensions mainly connected with documents and media. The script also has a predefined list of filenames to exfiltrate. The extracted files are packed into a ZIP archive which is later sent to the C2 asynchronously. An interesting aspect is that the filename list includes several French words, such as “motdepasse” (French for “password”), “banque” (French for “bank”), “secret” (French for “secret”), and “compte” (French for “account”).
Other payloads
We were able to identify additional modules that are downloaded from the C2 rather than embedded into the stealer script; however, we weren’t able to obtain them. These modules can be described by the following table, with the “Details” column referring to the information that could be extracted from the main stealer code.
Module name
Endpoint to download
Details
Chrome grabber
/api/chrome-grabber-template/{payload_id}
–
Wallet patcher
/api/wallet-patcher/{payload_id}
Checks whether “Exodus” and “Atomic” cryptocurrency wallets are installed
Extra collector
/api/extra-collector/{payload_id}
Uses a set of options from the config, such as collect_filezilla, collect_vpn_data, collect_steam, and collect_screenshots
HVNC
/hvnc
Is saved to the Startup directory (%APPDATA%\Microsoft\Windows\Start Menu\Programs\Startup\hvnc.py) to execute upon system boot
The Wallet patcher and Extra collector scripts are received in an encrypted form from the C2 server. To decrypt them, the attackers utilize the AES-GCM algorithm in conjunction with PBKDF2 (HMAC and SHA256). After decryption, the additional payload has its template placeholders replaced and is stored under a partially randomized name within a temporary folder.
Decryption routine and template substitution
Once all operations are completed, the stealer removes itself from the drive, along with the artifacts folder (Arkanix_lol in this case).
Native version of stealer
MD5
a3fc46332dcd0a95e336f6927bae8bb7
File name
ArkanixStealer.exe
During our analysis, we were able to obtain both the release and debug versions of the native implementation, as both were uploaded to publicly available resources. The following are the key differences between the two:
The release version employs VMProtect, but does not utilize code virtualization.
The debug version communicates with a Discord bot for command and control (C2), whereas the release version uses the previously mentioned C2 domain arkanix[.]pw.
The debug version includes extensive logging, presumably for the authors’ debugging purposes.
Notably, the native implementation explicitly references the name of the stealer in the VersionInfo resources. This naming convention is consistent across both the debug version and certain samples containing the release version of the implant.
Version info
After launching, the stealer implements a series of analysis countermeasures to verify that the application is not being executed within a sandboxed environment or run under a debugger. Following these checks, the sample patches AmsiScanBuffer and EtwEventWrite to prevent the triggering of any unwanted events by the system.
Once the preliminary checks are completed, the sample proceeds to gather information about the system. The list of capabilities is hardcoded and cannot be modified from the server side, in contrast to the Python version. What is more, the feature list is quite similar to the Python version except a few ones.
RDP connections
The stealer is capable of collecting information about known RDP connections that the compromised user has. To achieve this, it searches for .rdp files in %USERPROFILE%\Documents and extracts the full server address, password, username and server port.
Gaming files
The stealer also targets gamers and is capable to steal credentials from the popular gaming platform clients, including:
Steam
Epic Games Launcher
net
Riot
Origin
Unreal Engine
Ubisoft Connect
GOG
Screenshots
The native version, unlike its Python counterpart, is capable of capturing screenshots for each monitor via capCreateCaptureWindowA WinAPI.
In conclusion, this sample communicates with the C2 server through the same endpoints as the Python version. However, in this instance, all data is encrypted using the same AES-GCM + PBKDF2 (HMAC and SHA256) scheme as partially employed in the Python variant. In some observed samples, the key used was arkanix_secret_key_v20_2024. Alongside that, the C++ sample explicitly sets the User-Agent to ArkanixStealer/1.0.
Post-exploitation browser data extractor
MD5
3283f8c54a3ddf0bc0d4111cc1f950c0
File name
–
This is an implant embedded within the resources of the C++ implementation. The author incorporated it into the resource section without applying any obfuscation or encryption. Subsequently, the stealer extracts the payload to a temporary folder with a randomly generated name composed of hexadecimal digits (0-9 and A-F) and executes it using the CreateProcess WinAPI. The payload itself is the unaltered publicly available project known as “ChromElevator”. To summarize, this tool consists of two components: an injector and the main payload. The injector initializes a direct syscall engine, spawns a suspended target browser process, and injects the decrypted code into it via Nt syscalls. The injected payload then decrypts the browser master key and exfiltrates data such as cookies, login information, web data, and so on.
Infrastructure
During the Arkanix campaign, two domains used in the attacks were identified. Although these domains were routed through Cloudflare, a real IP address was successfully discovered for one of them, namely, arkanix[.]pw. For the second one we only obtained a Cloudflare IP address.
Domain
IP
First seen
ASN
arkanix[.]pw
195.246.231[.]60
Oct 09, 2025
–
arkanix[.]ru
172.67.186[.]193
Oct 19, 2025
–
Both servers were also utilized to host the stealer panel, which allows attackers to monitor their victims. The contents of the panel are secured behind a sign-in page. Closer to the end of our research, the panel was seemingly taken down with no message or notice.
Stealer panel sign-in page
Stealer promotion
During the research of this campaign, we noticed that the forum posts advertising the stealer contained a link leading to a Discord server dubbed “Arkanix” by the authors. The server posed as a forum where authors posted various content and clients could ask various questions regarding this malicious software. While users mainly thank and ask about when the feature promised by the authors will be released and added into the stealer, the content made by the authors is broader. The adversary builds up the communication with potential buyers using the same marketing and communication methods real companies employ. To begin with, they warm up the audience by posting surveys about whether they should implement specific features, such as Discord injection and binding with a legitimate application (sic!).
Feature votes
Additionally, the author promised to release a crypter as a side project in four to six weeks, at the end of October. As of now, the stealer seems to have been taken down without any notice while the crypter was never released.
Arkanix Crypter
Furthermore, the Arkanix Stealer authors decided to implement a referral program to attract new customers. Referrers were promised an additional free hour to their premium license, while invited customers received seven days of free “premium” trial use. As stated in forum posts, the premium plan included the following features:
C++ native stealer
Exodus and Atomic cryptocurrency wallets injection
Increased payload generation, up to 10 payloads
Priority support
Referral program ad and corresponding panel interface
Speaking of technical details, based on the screenshot of the Visual Studio stealer project that was sent to the Discord server, we can conclude that the author is German-speaking.
This same screenshot also serves as a probable indicator of AI-assisted development as it shares the common patterns of such assistants, e.g. the presence of the utils.cpp file. What provides even more confidence is the overall code structure, the presence of comments and extensive debugging log output.
Example of LLM-specific patterns
Conclusions
Information stealers have always posed as a serious threat to users’ data. Arkanix is no exception as it targets a wide range of users, from those interested in cryptocurrencies and gaming to those using online banking. It collects a vast amount of information including highly sensitive personal data. While being quite functional, it contains probable traces of LLM-assisted development which suggests that such assistance might have drastically reduced development time and costs. Hence it follows that this campaign tends to be more of a one-shot campaign for quick financial gains rather than a long-running infection. The panel and the Discord chat were taken down around December 2025, leaving no message or traces of further development or a resurgence.
In addition, the developers behind the Arkanix Stealer decided to address the public, implementing a forum where they posted development insights, conducted surveys and even ran a referral program where you could get bonuses for “bringing a friend”. This behavior makes Arkanix more of a public software product than a shady stealer.
In October 2025, we discovered a series of forum posts advertising a previously unknown stealer, dubbed “Arkanix Stealer” by its authors. It operated under a MaaS (malware-as-a-service) model, providing users not only with the implant but also with access to a control panel featuring configurable payloads and statistics. The set of implants included a publicly available browser post-exploitation tool known as ChromElevator, which was delivered by a native C++ version of the stealer. This version featured a wide range of capabilities, from collecting system information to stealing cryptocurrency wallet data. Alongside that, we have also discovered Python implementation of the stealer capable of dynamically modifying its configuration. The Python version was often packed, thus giving the adversary multiple methods for distributing their malware. It is also worth noting that Arkanix was rather a one-shot malicious campaign: at the time of writing this article, the affiliate program appears to be already taken down.
Kaspersky products detect this threat as Trojan-PSW.Win64.Coins.*, HEUR:Trojan-PSW.Multi.Disco.gen, Trojan.Python.Agent.*.
Technical details
Background
In October 2025, a series of posts was discovered on various dark web forums, advertising a stealer referred to by its author as “Arkanix Stealer”. These posts detail the features of the stealer and include a link to a Discord server, which serves as the primary communication channel between the author and the users of the stealer.
Example of an Arkanix Stealer advertisement
Upon further research utilizing public resources, we identified a set of implants associated with this stealer.
Initial infection or spreading
The initial infection vector remains unknown. However, based on some of the file names (such as steam_account_checker_pro_v1.py, discord_nitro_checker.py, and TikTokAccountBotter.exe) of the loader scripts we obtained, it can be concluded with high confidence that the initial infection vector involved phishing.
Python loader
MD5
208fa7e01f72a50334f3d7607f6b82bf
File name
discord_nitro_code_validator_right_aligned.py
The Python loader is the script responsible for downloading and executing the Python-based version of the Arkanix infostealer. We have observed both plaintext Python scripts and those bundled using PyInstaller or Nuitka, all of which share a common execution vector and are slightly obfuscated. These scripts often serve as decoys, initially appearing to contain legitimate code. Some of them do have useful functionality, and others do nothing apart from loading the stealer. Additionally, we have encountered samples that employ no obfuscation at all, in which the infostealer is launched in a separate thread via Python’s built-in threading module.
Variants of Python loaders executing the next stage
Upon execution, the loader first installs the required packages — namely, requests, pycryptodome, and psutil — via the pip package manager, utilizing the subprocess module. On Microsoft Windows systems, the loader also installs pywin32. In some of the analyzed samples, this process is carried out twice. Since the loader does not perform any output validation of the module installation command, it proceeds to make a POST request to hxxps://arkanix[.]pw/api/session/create to register the current compromised machine on the panel with a predefined set of parameters even if the installation failed. After that, the stealer makes a GET request to hxxps://arkanix[.]pw/stealer.py and executes the downloaded payload.
Python stealer version
MD5
af8fd03c1ec81811acf16d4182f3b5e1
File name
–
During our research, we obtained a sample of the Python implementation of the Arkanix stealer, which was downloaded from the endpoint hxxps://arkanix[.]pw/stealer.py by the previous stage.
The stealer’s capabilities — or features, as referred to by the author — in this version are configurable, with the default configuration predefined within the script file. To dynamically update the feature list, the stealer makes a GET request to hxxps://arkanix[.]pw/api/features/{payload_id}, indicating that these capabilities can be modified on the panel side. The feature list is identical to the one that was described in the GDATA report.
Configurable options
Prior to executing the information retrieval-related functions, the stealer makes a request to hxxps://arkanix[.]pw/upload_dropper.py, saves the response to %TEMP%\upd_{random 8-byte name}.py, and executes it. We do not have access to the contents of this script, which is referred to as the “dropper” by the attackers.
During its main information retrieval routine, at the end of each processing stage, the collected information is serialized into JSON format and saved to a predefined path, such as %LOCALAPPDATA\Arkanix_lol\%info_class%.json.
In the following, we will provide a more detailed description of the Python version’s data collection features.
System info collection
Arkanix Stealer is capable of collecting a set of info about the compromised system. This info includes:
OS version
CPU and GPU info
RAM size
Screen resolution
Keyboard layout
Time zone
Installed software
Antivirus software
VPN
Information collection is performed using standard shell commands with the exception of the VPN check. The latter is implemented by querying the endpoint hxxps://ipapi[.]co/json/ and verifying whether the associated IP address belongs to a known set of VPNs, proxies, or Tor exit nodes.
Browser features
This stealer is capable of extracting various types of data from supported browsers (22 in total, ranging from the widely popular Google Chrome to the Tor Browser). The list of supported browsers is hardcoded, and unlike other parameters, it cannot be modified during execution. In addition to a separate Chrome grabber module (which we’ll discuss later), the stealer itself supports the extraction of diverse information, such as:
Browser history (URLs, visit count and last visit)
Autofill information (email, phone, addresses and payment cards details)
Saved passwords
Cookies
In case of Chromium-based browsers, 0Auth2 data is also extracted
All information is decrypted using either the Windows DPAPI or AES, where applicable, and searched for relevant keywords. In the case of browser information collection, the stealer searches exclusively for keywords related to banking (e.g., “revolut”, “stripe”, “bank”) and cryptocurrencies (e.g., “binance”, “metamask”, “wallet”). In addition to this, the stealer is capable of extracting extension data from a hardcoded list of extensions associated with cryptocurrencies.
Part of the extension list which the stealer utilizes to extract data from
Telegram info collection
Telegram data collection begins with terminating the Telegram.exe process using the taskkill command. Subsequently, if the telegram_optimized feature is set to False, the malware zips the entire tdata directory (typically located at %APPDATA%\Roaming\Telegram Desktop\tdata) and transmits it to the attacker. Otherwise, it selectively copies and zips only the subdirectories containing valuable info, such as message log. The generated archive is sent to the endpoint /delivery with the filename tdata_session.zip.
Discord capabilities
The stealer includes two features connected with Discord: credentials stealing and self-spreading. The first one can be utilized to acquire credentials both from the standard client and custom clients. If the client is Chromium-based, the stealer employs the same data exfiltration mechanism as during browser credentials stealing.
The self-spreading feature is configurable (meaning it can be disabled in the config). The stealer acquires the list of user’s friends and channels via the Discord API and sends a message provided by the attacker. This stealer does not support attaching files to such messages.
VPN data collection
The VPN collector is searching for a set of known VPN software to extract account credentials from the credentials file with a known path that gets parsed with a regular expression. The extraction occurs from the following set of applications:
Mullvad VPN
NordVPN
ExpressVPN
ProtonVPN
File retrieval
File retrieval is performed regardless of the configuration. The script relies on a predefined set of paths associated with the current user (such as Desktop, Download, etc.) and file extensions mainly connected with documents and media. The script also has a predefined list of filenames to exfiltrate. The extracted files are packed into a ZIP archive which is later sent to the C2 asynchronously. An interesting aspect is that the filename list includes several French words, such as “motdepasse” (French for “password”), “banque” (French for “bank”), “secret” (French for “secret”), and “compte” (French for “account”).
Other payloads
We were able to identify additional modules that are downloaded from the C2 rather than embedded into the stealer script; however, we weren’t able to obtain them. These modules can be described by the following table, with the “Details” column referring to the information that could be extracted from the main stealer code.
Module name
Endpoint to download
Details
Chrome grabber
/api/chrome-grabber-template/{payload_id}
–
Wallet patcher
/api/wallet-patcher/{payload_id}
Checks whether “Exodus” and “Atomic” cryptocurrency wallets are installed
Extra collector
/api/extra-collector/{payload_id}
Uses a set of options from the config, such as collect_filezilla, collect_vpn_data, collect_steam, and collect_screenshots
HVNC
/hvnc
Is saved to the Startup directory (%APPDATA%\Microsoft\Windows\Start Menu\Programs\Startup\hvnc.py) to execute upon system boot
The Wallet patcher and Extra collector scripts are received in an encrypted form from the C2 server. To decrypt them, the attackers utilize the AES-GCM algorithm in conjunction with PBKDF2 (HMAC and SHA256). After decryption, the additional payload has its template placeholders replaced and is stored under a partially randomized name within a temporary folder.
Decryption routine and template substitution
Once all operations are completed, the stealer removes itself from the drive, along with the artifacts folder (Arkanix_lol in this case).
Native version of stealer
MD5
a3fc46332dcd0a95e336f6927bae8bb7
File name
ArkanixStealer.exe
During our analysis, we were able to obtain both the release and debug versions of the native implementation, as both were uploaded to publicly available resources. The following are the key differences between the two:
The release version employs VMProtect, but does not utilize code virtualization.
The debug version communicates with a Discord bot for command and control (C2), whereas the release version uses the previously mentioned C2 domain arkanix[.]pw.
The debug version includes extensive logging, presumably for the authors’ debugging purposes.
Notably, the native implementation explicitly references the name of the stealer in the VersionInfo resources. This naming convention is consistent across both the debug version and certain samples containing the release version of the implant.
Version info
After launching, the stealer implements a series of analysis countermeasures to verify that the application is not being executed within a sandboxed environment or run under a debugger. Following these checks, the sample patches AmsiScanBuffer and EtwEventWrite to prevent the triggering of any unwanted events by the system.
Once the preliminary checks are completed, the sample proceeds to gather information about the system. The list of capabilities is hardcoded and cannot be modified from the server side, in contrast to the Python version. What is more, the feature list is quite similar to the Python version except a few ones.
RDP connections
The stealer is capable of collecting information about known RDP connections that the compromised user has. To achieve this, it searches for .rdp files in %USERPROFILE%\Documents and extracts the full server address, password, username and server port.
Gaming files
The stealer also targets gamers and is capable to steal credentials from the popular gaming platform clients, including:
Steam
Epic Games Launcher
net
Riot
Origin
Unreal Engine
Ubisoft Connect
GOG
Screenshots
The native version, unlike its Python counterpart, is capable of capturing screenshots for each monitor via capCreateCaptureWindowA WinAPI.
In conclusion, this sample communicates with the C2 server through the same endpoints as the Python version. However, in this instance, all data is encrypted using the same AES-GCM + PBKDF2 (HMAC and SHA256) scheme as partially employed in the Python variant. In some observed samples, the key used was arkanix_secret_key_v20_2024. Alongside that, the C++ sample explicitly sets the User-Agent to ArkanixStealer/1.0.
Post-exploitation browser data extractor
MD5
3283f8c54a3ddf0bc0d4111cc1f950c0
File name
–
This is an implant embedded within the resources of the C++ implementation. The author incorporated it into the resource section without applying any obfuscation or encryption. Subsequently, the stealer extracts the payload to a temporary folder with a randomly generated name composed of hexadecimal digits (0-9 and A-F) and executes it using the CreateProcess WinAPI. The payload itself is the unaltered publicly available project known as “ChromElevator”. To summarize, this tool consists of two components: an injector and the main payload. The injector initializes a direct syscall engine, spawns a suspended target browser process, and injects the decrypted code into it via Nt syscalls. The injected payload then decrypts the browser master key and exfiltrates data such as cookies, login information, web data, and so on.
Infrastructure
During the Arkanix campaign, two domains used in the attacks were identified. Although these domains were routed through Cloudflare, a real IP address was successfully discovered for one of them, namely, arkanix[.]pw. For the second one we only obtained a Cloudflare IP address.
Domain
IP
First seen
ASN
arkanix[.]pw
195.246.231[.]60
Oct 09, 2025
–
arkanix[.]ru
172.67.186[.]193
Oct 19, 2025
–
Both servers were also utilized to host the stealer panel, which allows attackers to monitor their victims. The contents of the panel are secured behind a sign-in page. Closer to the end of our research, the panel was seemingly taken down with no message or notice.
Stealer panel sign-in page
Stealer promotion
During the research of this campaign, we noticed that the forum posts advertising the stealer contained a link leading to a Discord server dubbed “Arkanix” by the authors. The server posed as a forum where authors posted various content and clients could ask various questions regarding this malicious software. While users mainly thank and ask about when the feature promised by the authors will be released and added into the stealer, the content made by the authors is broader. The adversary builds up the communication with potential buyers using the same marketing and communication methods real companies employ. To begin with, they warm up the audience by posting surveys about whether they should implement specific features, such as Discord injection and binding with a legitimate application (sic!).
Feature votes
Additionally, the author promised to release a crypter as a side project in four to six weeks, at the end of October. As of now, the stealer seems to have been taken down without any notice while the crypter was never released.
Arkanix Crypter
Furthermore, the Arkanix Stealer authors decided to implement a referral program to attract new customers. Referrers were promised an additional free hour to their premium license, while invited customers received seven days of free “premium” trial use. As stated in forum posts, the premium plan included the following features:
C++ native stealer
Exodus and Atomic cryptocurrency wallets injection
Increased payload generation, up to 10 payloads
Priority support
Referral program ad and corresponding panel interface
Speaking of technical details, based on the screenshot of the Visual Studio stealer project that was sent to the Discord server, we can conclude that the author is German-speaking.
This same screenshot also serves as a probable indicator of AI-assisted development as it shares the common patterns of such assistants, e.g. the presence of the utils.cpp file. What provides even more confidence is the overall code structure, the presence of comments and extensive debugging log output.
Example of LLM-specific patterns
Conclusions
Information stealers have always posed as a serious threat to users’ data. Arkanix is no exception as it targets a wide range of users, from those interested in cryptocurrencies and gaming to those using online banking. It collects a vast amount of information including highly sensitive personal data. While being quite functional, it contains probable traces of LLM-assisted development which suggests that such assistance might have drastically reduced development time and costs. Hence it follows that this campaign tends to be more of a one-shot campaign for quick financial gains rather than a long-running infection. The panel and the Discord chat were taken down around December 2025, leaving no message or traces of further development or a resurgence.
In addition, the developers behind the Arkanix Stealer decided to address the public, implementing a forum where they posted development insights, conducted surveys and even ran a referral program where you could get bonuses for “bringing a friend”. This behavior makes Arkanix more of a public software product than a shady stealer.
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.
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.
Variants of CoolClient abusing different software for DLL sideloading (2021–2025)
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.
Overview of CoolClient execution flow
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.
Function used to find and extract Base64-encoded credentials from HTTP proxy-authorization headers
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.
CoolClient plugin that spawns cmd.exe with redirected I/O and forwards command output to C2
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.
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.
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:
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.
Function that copies Chrome browser login data into a temporary file (chromeTmp) for exfiltration
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.
Code similarity between HoneyMyte’s saved login data stealer and LuminousMoth’s cookie stealer
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.
Batch script that downloads curl.exe and rar.exe from HoneyMyte infrastructure and executes them for file transfer and compression
It then collects network details and downloads and runs the nbtscan tool for internal network scanning.
Batch script that performs network enumeration and saves the results to the log.dat file for later exfiltration
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/.
Batch script that collects registry, startup items, directories, and antivirus information for system profiling
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.
PowerShell script that extracts and decrypts the Chrome encrypted_key from the Local State file before writing the result to a Local State-journal file
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.
Script that compresses data with RAR, and exfiltrates it to Pixeldrain via API
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.
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.
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.
Variants of CoolClient abusing different software for DLL sideloading (2021–2025)
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.
Overview of CoolClient execution flow
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.
Function used to find and extract Base64-encoded credentials from HTTP proxy-authorization headers
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.
CoolClient plugin that spawns cmd.exe with redirected I/O and forwards command output to C2
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.
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.
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:
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.
Function that copies Chrome browser login data into a temporary file (chromeTmp) for exfiltration
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.
Code similarity between HoneyMyte’s saved login data stealer and LuminousMoth’s cookie stealer
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.
Batch script that downloads curl.exe and rar.exe from HoneyMyte infrastructure and executes them for file transfer and compression
It then collects network details and downloads and runs the nbtscan tool for internal network scanning.
Batch script that performs network enumeration and saves the results to the log.dat file for later exfiltration
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/.
Batch script that collects registry, startup items, directories, and antivirus information for system profiling
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.
PowerShell script that extracts and decrypts the Chrome encrypted_key from the Local State file before writing the result to a Local State-journal file
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.
Script that compresses data with RAR, and exfiltrates it to Pixeldrain via API
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.
Our experts have detected a new wave of malicious emails targeting Russian private-sector organizations. The goal of the attack is to infect victims’ computers with an infostealer. This campaign is particularly noteworthy because the attackers tried to disguise their activity as the operations of legitimate software and traffic to the ubiquitously-used state and municipal services website.
How the attack begins
The attackers distribute an email containing a malicious attachment disguised as a regular PDF document. In reality, the file is an executable hiding behind a PDF icon; double-clicking it triggers an infection chain on the victim’s computer. In the campaign we analyzed, the malicious files were named УВЕДОМЛЕНИЕ о возбуждении исполнительного производства (NOTICE of Initiation of Enforcement Proceedings) and Дополнительные выплаты (Additional Payouts), though these are probably not the only document names the attackers employ to trick victims into clicking the files.
Technically, the file disguised as a document is a downloader built with the help of the .NET framework. It downloads a secondary loader that installs itself as a service to establish persistence on the victim’s machine. This other loader then retrieves a JSON string containing encrypted files from the command-and-control server. It saves these files to the compromised computer in C:\ProgramData\Microsoft Diagnostic\Tasks, and executes them one by one.
Example of the server response
The key feature of this delivery method is its flexibility: the attackers can provide any malicious payload from the command-and-control server for the malware to download and execute. Presently, the attackers are using an infostealer as the final payload, but this attack could potentially be used to deliver even more dangerous threats – such as ransomware, wipers, or tools for deeper lateral movement within the victim’s infrastructure.
Masking malicious activity
The command-and-control server used to download the malicious payload in this attack was hosted on the domain gossuslugi{.}com. The name is visually similar to Russia’s widely used state and municipal services portal. Furthermore, the second-stage loader has the filename NetworkDiagnostic.exe, which installs itself in the system as a Network Diagnostic Service.
Consequently, an analyst doing only a superficial review of network traffic logs or system events might overlook the server communication and malware execution. This can also complicate any subsequent incident investigation efforts.
What the infostealer collects
The attackers start by gathering information about the compromised system: the computer name, OS version, hardware specifications, and the victim’s IP address. Additionally, the malware is capable of capturing screenshots from the victim’s computer, and harvesting files in formats of interest to the attackers (primarily various documents and archives). Files smaller than 100MB, along with the rest of the collected data, are sent to a separate communication server: ants-queen-dev.azurewebsites{.}net.
File formats of interest to the attackers
The final malicious payload currently in use consists of four files: one executable and three DLL libraries. The executable enables screen capture capabilities. One of the libraries is used to add the executable to startup, another is responsible for data collection, while the third handles data exfiltration.
During network communication, the malware adds an AuthKey header to its requests, which contains the victim’s operating system identifier.
Code snippet: a function for sending messages to the attackers’ server
How to stay safe
Our security solutions detect both the malicious code used in this attack and its communication with the attackers’ command-and-control servers. Therefore, we recommend using reliable security solutions on all devices used by your company to access the internet. And to prevent malicious emails from ever reaching your employees, we also advise deploying a security solution at the corporate email gateway level too.
The Infostealer Gateway: Uncovering the Latest Methods in Defense Evasion
In this post, we analyze the evolving bypass tactics threat actors are using to neutralize traditional security perimeters and fuel the global surge in infostealer infections.
Infostealer-driven credential theft in 2025 has surged, with Flashpoint observing a staggering 800% increase since the start of the year. With over 1.8 billion corporate and personal accounts compromised, the threat landscape finds itself in a paradox: while technical defenses have never been more advanced, the human attack surface has never been more vulnerable.
Information-stealing malware has become the most scalable entry point for enterprise breaches, but to truly defend against them, organizations must look beyond the malware itself. As teams move into 2026 security planning, it is critical to understand the deceptive initial access vectors—the latest tactics Flashpoint is seeing in the wild—that threat actors are using to manipulate users and bypass modern security perimeters.
Here are the latest methods threat actors are leveraging to facilitate infections:
1. Neutralizing Mark of the Web (MotW) via Drag-and-Drop Lures
Mark of the Web (MotW) is a critical Windows defense feature that tags files downloaded from the internet as “untrusted” by adding a hidden NTFS Alternate Data Stream (ADS) to the file. This tag triggers “Protected View” in Microsoft Office programs and prompts Windows SmartScreen warnings when a user attempts to execute an unknown file.
Flashpoint has observed a new social engineering method to bypass these protections through a simple drag-and-drop lure. Instead of asking a user to open a suspicious attachment directly, which would trigger an immediate MotW warning, threat actors are instead instructing the victim to drag the malicious image or file from a document onto their desktop to view it. This manual interaction is highly effective for two reasons:
Contextual Evasion: By dragging the file out of the document and onto the desktop, the file is executed outside the scope of the Protected View sandbox.
Metadata Stripping: In many instances, the act of dragging and dropping an embedded object from a parent document can cause the operating system to treat the newly created file as a local creation, rather than an internet download. This effectively strips the MotW tag and allows malicious code to run without any security alerts.
2. Executing Payloads via Vulnerabilities and Trusted Processes
Flashpoint analysts uncovered an illicit thread detailing a proof of concept for a client-side remote code execution (RCE) in the Google Web Designer for Windows, which was first discovered by security researcher Bálint Magyar.
Google Web Designer is an application used for creating dynamic ads for the Google Ads platform. Leveraging this vulnerability, attackers would be able to perform remote code execution through an internal API using CSS injection by targeting a configuration file related to ads documents.
Within this thread, threat actors were specifically interested in the execution of the payload using the chrome.exe process. This is because using chrome.exe to fetch and execute a file is likely to bypass several security restrictions as Chrome is already a trusted process. By utilizing specific command-line arguments, such as the –headless flag, threat actors showed how to force a browser to initiate a remote connection in the background without spawning a visible window. This can be used in conjunction with other malicious scripts to silently download additional payloads onto a victim’s systems.
3. Targeting Alternative Softwares as a Path of Least Resistance
As widely-used software becomes more hardened and secure, threat actors are instead pivoting to targeting lesser-known alternatives. These tools often lack robust macro-protections. By targeting vulnerabilities in secondary PDF viewers or Office alternatives, attackers are seeking to trick users into making remote server connections that would otherwise be flagged as suspicious.
Understanding the Identity Attack Surface
Social engineering is one of the driving factors behind the infostealer lifecycle. Once an initial access vector is successful, the malware immediately begins harvesting the logs that fuel today’s identity-based digital attacks.
As detailed in The Proactive Defender’s Guide to Infostealers, the end goal is not just a password. Instead, attackers are prioritizing session cookies, which allow them to perform session hijacking. By importing these stolen cookies into anti-detect browsers, they bypass Multi-Factor Authentication and step directly into corporate environments, appearing as a legitimate, authenticated user.
Understanding how threat actors weaponize stolen data is the first step toward a proactive defense. For a deep dive into the most prolific stealer strains and strategies for managing the identity attack surface, download The Proactive Defender’s Guide to Infostealers today.
Beyond the Malware: Inside the Digital Empire of a North Korean Threat Actor
In this post Flashpoint reveals how an infostealer infection on a North Korean threat actor’s machine exposed their digital operational security failures and reliance on AI. Leveraging Flashpoint intelligence, we pivot from a single persona to a network of fake identities and companies targeting the Web3 and crypto industry.
Last week, Hudson Rock published a blog on “Trevor Greer,” a persona tied to a North Korean IT Worker. Flashpoint shared additional insights with our clients back in July, and we’re now making those findings public.
Trevor Greer, a North Korean operative, was identified via an infostealer infection on their own machine. Information-stealing malware, also known as Infostealers or stealers, are malware designed to scrape passwords and cookies from unsuspecting victims. Stealers (like LummaC2 or RedLine) are typically used by cybercriminals to steal login credentials from everyday users to sell on the Dark Web. It is rare to see them infect the machines of a state-sponsored advanced persistent threat group (APT).
However, when adversaries unknowingly infect themselves, they can expose valuable insights into the inner workings of their campaigns. Leveraging Flashpoint intelligence sourced from the leaked logs of “Trevor Greer,” our analysts uncovered a myriad of fake identities and companies used by DPRK APTs.
Finding Trevor Greer
Flashpoint analysts have been tracking the Trevor Greer email address since December 2024 in relation to the “Contagious Interview” campaign, in which threat actors operated as LinkedIn recruiters to target Web3 developers, resulting in the deployment of multiple stealers compromising developer Web3 wallets. Flashpoint also identified the specific persona’s involvement in a campaign in which North Korean threat actors posed as IT freelance workers and applied for jobs at legitimate companies before compromising the organizations internally.
ByBit Compromise
The ByBit compromise in late February 2025 further fueled Flashpoint’s investigations into the Trevor Greer email address. Bybit, a cryptocurrency exchange, suffered a critical incident resulting in North Korean actors extorting US $1.5 billion worth of cryptocurrency. In the aftermath, Silent Push researchers identified the persona “Trevor Greer” associated with the email address trevorgreer9312@gmail[.]com, which registered the domain “Bybit-assessment[.]com” prior to the Bybit compromise.
A later report claimed that the domain “getstockprice[.]com” was involved in the compromise. Despite these domain discrepancies, both investigations attributed the attack to North Korean advanced persistent threat (APT) nexus groups.
Tracing the Infection
Using Flashpoint’s vast intelligence collections, we performed a full investigation of compromised virtual private servers (VPS), revealing the actor’s potential involvement in several other operations, including remote IT work, several self-made blockchain and cryptocurrency exchange companies, and a potential crypto scam dating back to 2022.
Flashpoint analysts also discovered that the Trevor Greer email address was linked to domains infected with information-stealing malware.
What the Logs Revealed
Analysts extracted information about the associated infected host from Trevor Greer, revealing possible tradecraft and tools used. Analysts further identified specific indicators of compromise (IOCs) used in the campaigns mentioned above, as well as email addresses used by the actor for remote work.
The data painted a vivid picture of how these threat actors operate:
Preparation for “Contagious Interviews”
The browser history revealed the actor logging into Willo, a legitimate video interview platform. This suggests the actor was conducting reconnaissance to clone the site for the “Contagious Interview” campaign, where they lured Web3 developers into fake job interviews to deploy malware.
Reliance on AI Tools
The logs exposed the actor’s reliance on AI to bridge the language gap. The operator frequently accessed ChatGPT and Quillbot, likely using them to write convincing emails, build resumes, and generate code for their malware.
Pivoting: One Node to a Network
By analyzing the “Trevor Greer” logs, we were able to pivot to other personas and campaigns involved in the operation.
Fake Employment: The logs contained credentials for freelance platforms, such as Upwork and Freelancer, associated with other aliases, including “Kenneth Debolt” and “Fabian Klein.” This confirmed the actor was part of a broader scheme to infiltrate Western companies as remote IT workers.
Fake Companies: The data linked the actor to fake corporate entities, such as Block Bounce (blockbounce[.]xyz), a sham crypto trading firm set up to appear legitimate to potential victims.
Developer Personas: The infection data linked the actor to the GitHub account svillalobosdev, which had been active in open source projects to build credibility before the attack.
Legitimate Platforms & Tools: Analysts observed the actor using job boards such as Dice and HRapply[.]com, freelance platforms such as Upwork and Freelancer, and direct applications through company Workday sites. To improve their resume, the actor used resumeworded[.]com or cakeresume[.]com. For conversing, the threat actor likely relies on a mix of both GPT and Quilbot, as found in infected host logins, to ensure they sound human. During interviews, analysts determined that they potentially used Speechify.
Deep & Dark Web Resources: The actor also likely purchased Social Security numbers (SSNs) from SSNDOB24[.]com, a site for acquiring Social Security data.
Disrupt Threat Actors Using Flashpoint
The “Trevor Greer” case study illustrates a critical shift in modern threat intelligence. We are no longer limited to analyzing the malware adversaries deploy; sometimes, we can analyze the adversaries themselves.
Using their own tools against them, Flashpoint transformed a faceless state-sponsored entity into a tangible user with bad habits, sloppy OPSEC, and a trail of digital breadcrumbs. Behind every sophisticated APT campaign is a human operator, and sometimes, they click the wrong link too.
Request a demo today to delve deeper into the tactics, techniques, and procedures of advanced persistent threats and learn how Flashpoint’s intelligence strengthens your defenses.
From Endpoint Compromise to Enterprise Breach: Mapping the Infostealer Attack Chain
In Flashpoint’s latest webinar, we map the global infostealer attack chain step-by-step, from initial infection to enterprise-level account takeover. We analyze how the commodification of stolen identities works and demonstrate how Flashpoint intelligence provides the critical visibility necessary to disrupt this cycle.
Compromised digital identities have become one of the most valuable currencies in the cybercriminal ecosystem. The rise of information-stealing malware has created an industrial-scale supply chain for stolen credentials, session cookies, and browser fingerprints, directly fueling account takeover (ATO) campaigns that penetrate even the most mature security environments.
Flashpoint recently hosted an on-demand webinar, “From Compromise to Breach: How Infostealers Power Identity Attacks,” where our experts dissected this developing threat landscape. We exposed the exact sequence of events, providing defenders with the actionable intelligence required to disrupt the chain at multiple points. For the full technical breakdown, check out the full on-demand webinar.
Here are the main key takeaways you need to know:
Stage 1: Initial Infection and Data Harvest (The Compromise)
A full scale compromise often begins with a single event, typically a phishing lure, a malicious download, or a compromised cracked software installer. Once executed, the infostealer goes to work, quickly and stealthily, to build a “log” that grants post-MFA (multi-factor authentication) access.
Scouring now-compromised endpoints, the stealer searches for and compiles data such as:
Credentials: Saved logins, credit card details, and passwords for applications and websites.
Session Cookies/Tokens: These are the keys that allow an attacker to bypass login prompts entirely, appearing as an already-authenticated user.
Browser Fingerprints and System Metadata: Geolocation, IP address, and system language used to evade security tools by accurately mimicking the victim’s legitimate environment.
Stage 2: Commodification and the ATO Supply Chain (The Market)
Once a log is harvested, it enters the Infostealer-as-a-Service ecosystem, a critical industrialized stage of the attack chain. Here, threat actors can rent or purchase access to millions of fresh logs, effectively outsourcing the initial compromise phase and enabling mass identity exploitation for a minimal investment.
Check out the on-demand webinar for a full technical breakdown of this dark web economy and how the commodification of stealer logs drastically reduces the barrier to entry for follow-on attacks.
Stage 3: Post-MFA Account Takeover (The Breach)
This is the ultimate pivot point, where a simple endpoint infection escalates into an enterprise breach. Unlike the brute-forcing and phishing attacks of the past, attackers leverage the stolen session tokens and browser fingerprints.
Stolen log buyers leverage obfuscation tools such as anti-detect browsers. These tools ensure the attacker can seamlessly utilize the stolen cookies and digital fingerprints to appear identical to the original victim.
They inject valid, unexpired session tokens into their browser, which allows attackers to hijack the victim’s active session. This allows them to avoid fraud and anomaly detection systems, providing them access into corporate VPNs, cloud environments, and internal applications without ever needing to see a login prompt. From here, attackers can move laterally, exfiltrate sensitive data, or deploy ransomware.
Disrupting the Attack Chain Using Flashpoint’s Actionable Intelligence
Defense against this threat requires not only an understanding of the attack chain, but also comprehensive Cyber Threat Intelligence (CTI) to identify and mitigate risks at every stage:
Disruption Point in the Attack Chain
How Flashpoint Empowers Proactive Defense
Stage 1: Initial Infection/Log Creation
Gain immediate alerting on the sale of your organization’s compromised assets on the Dark Web before attackers can leverage stolen data.
Stage 2: Commodification/ATO Setup
Expose the illicit platforms and forums where threat actors discuss, buy, and sell stolen logs, allowing you to track the tooling and TTPs.
Stage 3: Post-MFA ATO/Breach
Identify and remediate the vulnerabilities within browsers or enterprise software that are most actively being targeted by infostealers.
The speed of infostealer-powered attacks demands an intelligence-driven response. Our recent webinar demonstrated how Flashpoint intelligence can empower your security teams to quickly identify and validate stolen logs, protecting your organization from compromise to breach. Watch the on-demand webinar to learn more, or request a demo today.
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