ブログ
/
Network
/
July 26, 2024

Understanding the WarmCookie Backdoor Threat

Discover effective strategies for disarming the WarmCookie backdoor and securing your systems against this persistent threat.
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 Torres
Cyber Analyst
Default blog imageDefault blog imageDefault blog imageDefault blog imageDefault blog imageDefault blog image
26
Jul 2024

What is WarmCookie malware?

WarmCookie, also known as BadSpace [2], is a two-stage backdoor tool that provides functionality for threat actors to retrieve victim information and launch additional payloads. The malware is primarily distributed via phishing campaigns according to multiple open-source intelligence (OSINT) providers.

Backdoor malware: A backdoor tool is a piece of software used by attackers to gain and maintain unauthorized access to a system. It bypasses standard authentication and security mechanisms, allowing the attacker to control the system remotely.

Two-stage backdoor malware: This means the backdoor operates in two distinct phases:

1. Initial Stage: The first stage involves the initial infection and establishment of a foothold within the victim's system. This stage is often designed to be small and stealthy to avoid detection.

2. Secondary Stage: Once the initial stage has successfully compromised the system, it retrieves or activates the second stage payload. This stage provides more advanced functionalities for the attacker, such as extensive data exfiltration, deeper system control, or the deployment of additional malicious payloads.

How does WarmCookie malware work?

Reported attack patterns include emails attempting to impersonate recruitment firms such as PageGroup, Michael Page, and Hays. These emails likely represented social engineering tactics, with attackers attempting to manipulate jobseekers into engaging with the emails and following malicious links embedded within [3].

This backdoor tool also adopts stealth and evasion tactics to avoid the detection of traditional security tools. Reported evasion tactics included custom string decryption algorithms, as well as dynamic API loading to prevent researchers from analyzing and identifying the core functionalities of WarmCookie [1].

Before this backdoor makes an outbound network request, it is known to capture details from the target machine, which can be used for fingerprinting and identification [1], this includes:

- Computer name

- Username

- DNS domain of the machine

- Volume serial number

WarmCookie samples investigated by external researchers were observed communicating over HTTP to a hardcoded IP address using a combination of RC4 and Base64 to protect its network traffic [1]. Ultimately, threat actors could use this backdoor to deploy further malicious payloads on targeted networks, such as ransomware.

Darktrace Coverage of WarmCookie

Between April and June 2024, Darktrace’s Threat Research team investigated suspicious activity across multiple customer networks indicating that threat actors were utilizing the WarmCookie backdoor tool. Observed cases across customer environments all included the download of unusual executable (.exe) files and suspicious outbound connectivity.

Affected devices were all observed making external HTTP requests to the German-based external IP, 185.49.69[.]41, and the URI, /data/2849d40ade47af8edfd4e08352dd2cc8.

The first investigated instance occurred between April 23 and April 24, when Darktrace detected a a series of unusual file download and outbound connectivity on a customer network, indicating successful WarmCookie exploitation. As mentioned by Elastic labs, "The PowerShell script abuses the Background Intelligent Transfer Service (BITS) to download WarmCookie and run the DLL with the Start export" [1].

Less than a minute later, the same device was observed making HTTP requests to the rare external IP address: 185.49.69[.]41, which had never previously been observed on the network, for the URI /data/b834116823f01aeceed215e592dfcba7. The device then proceeded to download masqueraded executable file from this endpoint. Darktrace recognized that these connections to an unknown endpoint, coupled with the download of a masqueraded file, likely represented malicious activity.

Following this download, the device began beaconing back to the same IP, 185.49.69[.]41, with a large number of external connections observed over port 80.  This beaconing related behavior could further indicate malicious software communicating with command-and-control (C2) servers.

Darktrace’s model alert coverage included the following details:

[Model Alert: Device / Unusual BITS Activity]

- Associated device type: desktop

- Time of alert: 2024-04-23T14:10:23 UTC

- ASN: AS28753 Leaseweb Deutschland GmbH

- User agent: Microsoft BITS/7.8

[Model Alert: Anomalous File / EXE from Rare External Location]

[Model Alert: Anomalous File / Masqueraded File Transfer]

- Associated device type: desktop

- Time of alert: 2024-04-23T14:11:18 UTC

- Destination IP: 185.49.69[.]41

- Destination port: 80

- Protocol: TCP

- Application protocol: HTTP

- ASN: AS28753 Leaseweb Deutschland GmbH

- User agent: Mozilla / 4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1;.NET CLR 1.0.3705)

- Event details: File: http[:]//185.49.69[.]41/data/b834116823f01aeceed215e592dfcba7, total seen size: 144384B, direction: Incoming

- SHA1 file hash: 4ddf0d9c750bfeaebdacc14152319e21305443ff

- MD5 file hash: b09beb0b584deee198ecd66976e96237

[Model Alert: Compromise / Beaconing Activity To External Rare]

- Associated device type: desktop

- Time of alert: 2024-04-23T14:15:24 UTC

- Destination IP: 185.49.69[.]41

- Destination port: 80

- Protocol: TCP

- Application protocol: HTTP

- ASN: AS28753 Leaseweb Deutschland GmbH  

- User agent: Mozilla / 4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1;.NET CLR 1.0.3705)

Between May 7 and June 4, Darktrace identified a wide range of suspicious external connectivity on another customer’s environment. Darktrace’s Threat Research team further investigated this activity and assessed it was likely indicative of WarmCookie exploitation on customer devices.

Similar to the initial use case, BITS activity was observed on affected devices, which is utilized to download WarmCookie [1]. This initial behavior was observed with the device after triggering the model: Device / Unusual BITS Activity on May 7.

Just moments later, the same device was observed making HTTP requests to the aforementioned German IP address, 185.49.69[.]41 using the same URI /data/2849d40ade47af8edfd4e08352dd2cc8, before downloading a suspicious executable file.

Just like the first use case, this device followed up this suspicious download with a series of beaconing connections to 185.49.69[.]41, again with a large number of connections via port 80.

Similar outgoing connections to 185.49.69[.]41 and model alerts were observed on additional devices during the same timeframe, indicating that numerous customer devices had been compromised.

Darktrace’s model alert coverage included the following details:

[Model Alert: Device / Unusual BITS Activity]

- Associated device type: desktop

- Time of alert: 2024-05-07T09:03:23 UTC

- ASN: AS28753 Leaseweb Deutschland GmbH

- User agent: Microsoft BITS/7.8

[Model Alert: Anomalous File / EXE from Rare External Location]

[Model Alert: Anomalous File / Masqueraded File Transfer]

- Associated device type: desktop

- Time of alert: 2024-05-07T09:03:35 UTC  

- Destination IP: 185.49.69[.]41

- Protocol: TCP

- ASN: AS28753 Leaseweb Deutschland GmbH

- Event details: File: http[:]//185.49.69[.]41/data/2849d40ade47af8edfd4e08352dd2cc8, total seen size: 72704B, direction: Incoming

- SHA1 file hash: 5b0a35c574ee40c4bccb9b0b942f9a9084216816

- MD5 file hash: aa9a73083184e1309431b3c7a3e44427  

[Model Alert: Anomalous Connection / New User Agent to IP Without Hostname]

- Associated device type: desktop

- Time of alert: 2024-05-07T09:04:14 UTC  

- Destination IP: 185.49.69[.]41  

- Application protocol: HTTP  

- URI: /data/2849d40ade47af8edfd4e08352dd2cc8

- User agent: Microsoft BITS/7.8  

[Model Alert: Compromise / HTTP Beaconing to New Endpoint]

- Associated device type: desktop

- Time of alert: 2024-05-07T09:08:47 UTC

- Destination IP: 185.49.69[.]41

- Protocol: TCP

- Application protocol: HTTP  

- ASN: AS28753 Leaseweb Deutschland GmbH  

- URI: /  

- User agent: Mozilla / 4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1;.NET CLR 1.0.3705) \

Cyber AI Analyst Coverage Details around the external destination, ‘185.49.69[.]41’.
Figure 1: Cyber AI Analyst Coverage Details around the external destination, ‘185.49.69[.]41’.
External Sites Summary verifying the geographical location of the external IP, 185.49.69[.]41’.
Figure 2: External Sites Summary verifying the geographical location of the external IP, 185.49.69[.]41’.

Fortunately, this particular customer was subscribed to Darktrace’s Proactive Threat Notification (PTN) service and the Darktrace Security Operation Center (SOC) promptly investigated the activity and alerted the customer. This allowed their security team to address the activity and begin their own remediation process.

In this instance, Darktrace’s Autonomous Response capability was configured in Human Confirmation mode, meaning any mitigative actions required manual application by the customer’s security team.

Despite this, Darktrace recommended two actions to contain the activity: blocking connections to the suspicious IP address 185.49.69[.]41 and any IP addresses ending with '69[.]41', as well as the ‘Enforce Pattern of Life’ action. By enforcing a pattern of life, Darktrace can restrict a device (or devices) to its learned behavior, allowing it to continue regular business activities uninterrupted while blocking any deviations from expected activity.

Actions suggested by Darktrace to contain the emerging activity, including blocking connections to the suspicious endpoint and restricting the device to its ‘pattern of life’.
Figure 3: Actions suggested by Darktrace to contain the emerging activity, including blocking connections to the suspicious endpoint and restricting the device to its ‘pattern of life’.

Conclusion

Backdoor tools like WarmCookie enable threat actors to gather and leverage information from target systems to deploy additional malicious payloads, escalating their cyber attacks. Given that WarmCookie’s primary distribution method seems to be through phishing campaigns masquerading as trusted recruitments firms, it has the potential to affect a large number of organizations.

In the face of such threats, Darktrace’s behavioral analysis provides organizations with full visibility over anomalous activity on their digital estates, regardless of whether the threat bypasses by human security teams or email security tools. While threat actors seemingly managed to evade customers’ native email security and gain access to their networks in these cases, Darktrace identified the suspicious behavior associated with WarmCookie and swiftly notified customer security teams.

Had Darktrace’s Autonomous Response capability been fully enabled in these cases, it could have blocked any suspicious connections and subsequent activity in real-time, without the need of human intervention, effectively containing the attacks in the first instance.

Credit to Justin Torres, Cyber Security Analyst and Dylan Hinz, Senior Cyber Security Analyst

Appendices

Darktrace Model Detections

- Anomalous File / EXE from Rare External Location

- Anomalous File / Masqueraded File Transfer  

- Compromise / Beacon to Young Endpoint  

- Compromise / Beaconing Activity To External Rare  

- Compromise / HTTP Beaconing to New Endpoint  

- Compromise / HTTP Beaconing to Rare Destination

- Compromise / High Volume of Connections with Beacon Score

- Compromise / Large Number of Suspicious Successful Connections

- Compromise / Quick and Regular Windows HTTP Beaconing

- Compromise / SSL or HTTP Beacon

- Compromise / Slow Beaconing Activity To External Rare

- Compromise / Sustained SSL or HTTP Increase

- Compromise / Sustained TCP Beaconing Activity To Rare Endpoint

- Anomalous Connection / Multiple Failed Connections to Rare Endpoint

- Anomalous Connection / New User Agent to IP Without Hostname

- Compromise / Sustained SSL or HTTP Increase

AI Analyst Incident Coverage:

- Unusual Repeated Connections

- Possible SSL Command and Control to Multiple Endpoints

- Possible HTTP Command and Control

- Suspicious File Download

Darktrace RESPOND Model Detections:

- Antigena / Network / External Threat / Antigena Suspicious File Block

- Antigena / Network / External Threat / Antigena Suspicious File Pattern of Life Block

List of IoCs

IoC - Type - Description + Confidence

185.49.69[.]41 – IP Address – WarmCookie C2 Endpoint

/data/2849d40ade47af8edfd4e08352dd2cc8 – URI – Likely WarmCookie URI

/data/b834116823f01aeceed215e592dfcba7 – URI – Likely WarmCookie URI

4ddf0d9c750bfeaebdacc14152319e21305443ff  - SHA1 Hash  – Possible Malicious File

5b0a35c574ee40c4bccb9b0b942f9a9084216816  - SHA1 Hash – Possiblem Malicious File

MITRE ATT&CK Mapping

(Technique Name) – (Tactic) – (ID) – (Sub-Technique of)

Drive-by Compromise - INITIAL ACCESS - T1189

Ingress Tool Transfer - COMMAND AND CONTROL - T1105

Malware - RESOURCE DEVELOPMENT - T1588.001 - T1588

Lateral Tool Transfer - LATERAL MOVEMENT - T1570

Web Protocols - COMMAND AND CONTROL - T1071.001 - T1071

Web Services - RESOURCE DEVELOPMENT - T1583.006 - T1583

Browser Extensions - PERSISTENCE - T1176

Application Layer Protocol - COMMAND AND CONTROL - T1071

Fallback Channels - COMMAND AND CONTROL - T1008

Multi-Stage Channels - COMMAND AND CONTROL - T1104

Non-Standard Port - COMMAND AND CONTROL - T1571

One-Way Communication - COMMAND AND CONTROL - T1102.003 - T1102

Encrypted Channel - COMMAND AND CONTROL - T1573

External Proxy - COMMAND AND CONTROL - T1090.002 - T1090

Non-Application Layer Protocol - COMMAND AND CONTROL - T1095

References

[1] https://www.elastic.co/security-labs/dipping-into-danger

[2] https://www.gdatasoftware.com/blog/2024/06/37947-badspace-backdoor

[3] https://thehackernews.com/2024/06/new-phishing-campaign-deploys.html

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 Torres
Cyber Analyst

More in this series

No items found.

Blog

/

Endpoint

/

January 30, 2026

ClearFake: From Fake CAPTCHAs to Blockchain-Driven Payload Retrieval

Default blog imageDefault blog image

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/

Continue reading
About the author
Vivek Rajan
Cyber Analyst

Blog

/

Network

/

January 30, 2026

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

Default blog imageDefault blog image

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]  

Continue reading
About the author
Nathaniel Jones
VP, Security & AI Strategy, Field CISO
あなたのデータ × DarktraceのAI
唯一無二のDarktrace AIで、ネットワークセキュリティを次の次元へ