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Grandoreiro Resurfaces in Mexico With New DLL Sideloading Campaign
Banking trojan Grandoreiro resurfaces in Mexico using DLL sideloading, now accounting for 40% of detections after its 2024 disruption.
Grandoreiro, a banking trojan disrupted in 2024, is active again with a new DLL sideloading technique. Mexico now accounts for 40% of the malware's detections. The resurgence signals renewed targeting of banking customers in Latin America.
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ValleyRAT: When Legitimate Software Becomes a Malware Delivery Tool
Kaspersky details ValleyRAT delivered via trojanized QN Wallpaper using DLL sideloading, tied to Silver Fox and hitting 1,500+ users in China and India.
Kaspersky found a malicious installer abusing a modified version of the legitimate QN Wallpaper adware application to deliver the ValleyRAT backdoor via DLL sideloading of libcef.dll. The installer masquerades as DingTalk, Chrome or Tencent Meeting software, creates persistence, disables Windows Defender via the DisableAntiSpyware registry key, and loads AES-encrypted payloads. ValleyRAT collects keystrokes, clipboard contents and screenshots plus system details, can download additional modules, and resists removal by injecting into svchost.exe or marking its process critical. The campaign was detected over 100,000 times in 2026, affecting more than 1,500 users mainly in China and India, and is attributed to Silver Fox with both espionage and financial motives.
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BambooToken Malware Uses MQTT to Control Windows and Linux Systems
Lumen uncovers BambooToken, a stealthy multi-platform malware using MQTT C2 and Tendyron DLL sideloading to compromise Asian and South American organizations.
Lumen Black Lotus Labs disclosed BambooToken, a previously undocumented malware family active since at least February 2023 that controls Windows and (since December 2025) Linux hosts via the MQTT protocol for C2. The malware sideloads a rogue OnKeyToken_KEB.dll via Tendyron's OnKey PKI token software, gathers host details, and uses a WMI-based plugin to enumerate installed antivirus products and exfiltrate them to C2 domains proxied through Cloudflare. A dozen compromised entities were detected across Asia and South America, and DLL sideloading plus SoftEther VPN usage suggests a China nexus.
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ValleyRAT Backdoor Hides in Signed Adware That Users Add to Antivirus Exclusions
Silver Fox distributes ValleyRAT via signed QN Wallpaper adware, sideloading a malicious libcef.dll into a trusted process to evade defenses.
Kaspersky reports the Silver Fox threat actor disguising the ValleyRAT backdoor (Winos 4.0) inside a modified, signed copy of the QN Wallpaper adware tool, using DLL sideloading to run within a trusted process. The installer disables Windows Defender via the DisableAntiSpyware registry key, adds autorun entries, and elevates via runas when needed; ValleyRAT steals keystrokes, clipboard data, and screenshots and can mark its process critical to trigger BSOD if killed. Kaspersky recorded more than 100,000 ValleyRAT detections affecting over 1,500 unique users in 2026, mostly in China and India, with prior campaigns against Japan, India, and Russia.
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PAPERMILL Malware Campaign Abuses Signed Notepad++ to Deliver VenomRAT to Windows Users
JUMPSEC tracks PAPERMILL, a China-nexus phishing campaign using a signed Notepad++ binary, libcurl.dll sideloading, and Donut loaders to deploy VenomRAT against Indian tax-audit targets.
PAPERMILL delivers ISO disk images via tax-audit phishing emails that passed SPF, DKIM, and DMARC, containing a renamed Authenticode-signed Notepad++ executable and a malicious libcurl.dll that proxies curl functions while executing loader logic in DllMain. The chain uses Mark-of-the-Web bypasses, anti-sandbox sleeps, UAC elevation prompts, Registry persistence, and a Donut shellcode loader to reflectively load .NET VenomRAT v6.0.3 with HVNC and credential-stealing capability, with C2 at 154.36.188.201:4449. JUMPSEC assesses the campaign as China-nexus, financially motivated, and Silver Fox-adjacent rather than definitively Silver Fox-operated.
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Fake Software Installers Disable Windows Update and Weaken Microsoft Defender
Fake software-download sites distribute installers that disable Windows Update and weaken Defender, attributed to China-linked cluster Silver Fox.
Microsoft says an active campaign uses counterfeit vendor websites on .com.cn and .hl.cn infrastructure with Chinese-language lures to deliver server-side generated installers that establish scheduled-task persistence, add Defender exclusions, delete shadow copies, and stop services including wuauserv, UsoSvc, uhssvc and WaaSMedicSvc. Victims span healthcare, manufacturing, gaming, technology, logistics, government and education, primarily China-based operations of multinationals and Chinese-speaking users. Microsoft assesses with moderate confidence the activity matches the Silver Fox (Yinhu) cluster, historically tied to Gh0st RAT and ValleyRAT, with C2 over non-standard ports like 5090 and 7088-7090 via domains iualef[.]net and oijfwe[.]net. Kaspersky separately detailed a QN Wallpaper DLL-sideloading chain delivering ValleyRAT.
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BambooToken: The Malware That Speaks MQTT to Stay Under the Radar
Lumen's Black Lotus Labs uncovered BambooToken, a Windows and Linux malware family using MQTT broker-based C2 and DLL sideloading across Asia since February 2023.
Lumen Black Lotus Labs identified BambooToken, a multiplatform malware family that exchanges commands through MQTT brokers so infected hosts never contact the C2 server directly, active from at least February 2023 through July 2026. The Windows variant sideloads via Tendyron's OnKey hardware-token software used in Chinese banking and government, or impersonates Kingsoft Office, without either vendor's signing certificate being compromised; a Linux build appeared by December 2025 with shell, file transfer, and system information commands. Victims include MikroTik and DrayTek routers in Singapore, Cambodia, and Vietnam reached after internet-wide SNMP scanning, and Lumen cannot attribute the family to any known actor.
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Spark RAT Targets Cambodia, Abuses Vulnerable OPSWAT Driver to Disable Security Tools
Acronis details a Spark RAT campaign against Cambodia abusing the vulnerable OPSWAT ardrv.sys driver (CVE-2026-36425) to disable Microsoft Defender and other security tools.
Acronis TRU analyzed a multi-stage Spark RAT campaign targeting Cambodian individuals and organizations with lures spanning government notices, public health materials, and real estate documents. Attack chains use phishing emails with Inno Setup archives, DLL side-loading via a signed Tencent executable, and BYOVD abuse of the vulnerable OPSWAT ardrv.sys driver (CVE-2026-36425) to terminate security software. Shellcode hidden in PNG files patches AMSI and ETW, establishes scheduled task and service persistence, and injects into vssvc.exe and ctfmon.exe to run the open-source Go-based Spark RAT. Tactics resemble the Silver Fox actor, but Acronis tracks the cluster as unattributed with low confidence.
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