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July 17, 2024

What you need to know about the new SEC Cybersecurity rules

In July 2023, the U.S. Securities and Exchange Commission (SEC) adopted new rules concerning cybersecurity incidents and disclosures. This blog describes the new rules and demonstrates how Darktrace can help organizations achieve compliance with these standards.
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
Kendra Gonzalez Duran
Principal Analyst
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17
Jul 2024

What is new in 2023 to SEC cybersecurity rules?

Form 8-K Item 1.05: Requiring the timely disclosure of material cybersecurity incidents.

Regulation S-K item 106: requiring registrants’ annual reports on Form 10-K to address cybersecurity risk management, strategy, and governance processes.

Comparable disclosures are required for reporting foreign private issuers on Forms 6-K and 20-F respectively.

What is Form 8-K Item 1.05 SEC cybersecurity rules?

Form 8-K Item 1.05 requires the following to be reported within four business days from when an incident is determined to be “material” (1), unless extensions are granted by the SEC under certain qualifying conditions:

“If the registrant experiences a cybersecurity incident that is determined by the registrant to be material, describe the material aspects of the nature, scope, and timing of the incident, and the material impact or reasonably likely material impact on the registrant, including its financial condition and results of operations.” (2, 3)

How does the SEC define cybersecurity incident?

Cybersecurity incident defined by the SEC means an unauthorized occurrence, or a series of related unauthorized occurrences, on or conducted through a registrant’s information systems that jeopardizes the confidentiality, integrity, or availability of a registrant’s information systems or any information residing therein. (4)

How can Darktrace assist in the process of disclosing incidents to the SEC?

Accelerate reporting

Darktrace’s Cyber AI Analyst generates automated reports that synthesize discrete data points potentially indicative of cybersecurity threats, forming reports that provide an overview of the evolution and impact of a threat.

Thus, when a potential threat is identified by Darktrace, AI Analyst can quickly compile information that organizations might include in their disclosure of an occurrence they determined to be material, including the following: incident timelines, incident events, incident summary, related model breaches, investigation process (i.e., how Darktrace’s AI conducted the investigation), linked incident events, and incident details. The figure below illustrates how Darktrace compiles and presents incident information and insights in the UI.

Overview of information provided in an ‘AI Analyst Report’ that could be relevant to registrants reporting a material cybersecurity incident to the SEC
Figure 1: Overview of information provided in an ‘AI Analyst Report’ that could be relevant to registrants reporting a material cybersecurity incident to the SEC

It should be noted that Instruction 4 to the new Form 8-K Item 1.05 specifies the “registrant need not disclose specific or technical information about its planned response to the incident or its cybersecurity systems, related networks and devices, or potential system vulnerabilities in such detail as would impede the registrant’s response or remediation of the incident” (5).

As such, the incident report generated by Darktrace may provide more information, including technical details, than is needed for the 8-K disclosure. In general, users should take appropriate measures to ensure that the information they provide in SEC reports meets the requirements outlined by the relevant regulations. Darktrace cannot recommend that an incident should be reported, nor report an incident itself.

Determine if a cybersecurity incident is material

Item 1.05 requires registrants to determine for themselves whether cybersecurity incidents qualify as ‘material’. This involves considerations such as ‘the nature scope and timing of the incident, and the material impact or reasonably likely material impact on the registrant, including its financial condition and results of operations.’

While it is up to the registrant to determine, consistent with existing legal standards, the materiality of an incident, Darktrace’s solution can provide relevant information which might aid in this evaluation. Darktrace’s Threat Visualizer user interface provides a 3-D visualization of an organization’s digital environment, allowing users to assess the likely degree to which an attack may have spread throughout their digital environment. Darktrace Cyber AI Analyst identifies connections among discrete occurrences of threatening activity, which can help registrants quickly assess the ‘scope and timing of an incident'.

Furthermore, in order to establish materiality it would be useful to understand how an attack might extend across recipients and environments. In the image below, Darktrace/Email identifies how a user was impacted across different platforms. In this example, Darktrace/Email identified an attacker that deployed a dual channel social engineering attack via both email and a SaaS platform in an effort to acquire login credentials. In this case, the attacker useding a legitimate SharePoint link that only reveals itself to be malicious upon click. Once the attacker gained the credentials, it proceeded to change email rules to obfuscate its activity.

Darktrace/Email presents this information in one location, making such investigations easier for the end user.

Darktrace/Email indicating a threat across SaaS and email
Figure 2: Darktrace/Email indicating a threat across SaaS and email

What is regulation S-K item 106 of the SEC cybersecurity rules?

The new rules add Item 106 to Regulation S-K requiring registrants to disclose certain information regarding their risk management, strategy, and governance relating to cybersecurity in their annual reports on Form 10-K. The new rules add Item 16K to Form 20-F to require comparable disclosure by [foreign private issuers] in their annual reports on Form 20-F. (6)

SEC cybersecurity rules: Risk management

Specifically, with respect to risk management, Item 106(b) and Item 16K(b) require registrants to describe their processes, if any, for assessing, identifying, and managing material risks from cybersecurity threats, as well as whether any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect them. The new rules include a non-exclusive list of disclosure items registrants should provide based on their facts and circumstances. (6)

SEC cybersecurity rules: Governance

With respect to governance, Item 106 and Item 16K require registrants to describe the board of directors’ oversight of risks from cybersecurity threats (including identifying any board committee or subcommittee responsible for such oversight) and management’s role in assessing and managing material risks from cybersecurity threats. (6)

How can Darktrace solutions aid in disclosing their risk management, strategy, and governance related to cybersecurity?

Impact scores

Darktrace End-to-End (E2E) leverages AI to understand the complex relationships across users and devices to model possible attack paths, giving security teams a contextual understanding of risk across their digital environments beyond isolated CVEs or CVSS scores. Additionally, teams can prioritize risk management actions to increase their cyber resilience through the E2E Advisory dashboard.

Attack paths consider:

  • Potential damages: Both the potential consequences if a given device was compromised and its immediate implications on other devices.
  • Exposure: Devices' level of interactivity and accessibility. For example, how many emails does a user get via mailing lists and from what kind of sources?
  • Impact: Where a user or asset sits in terms of the IT or business hierarchy and how they communicate with each other. Darktrace can simulate a range of possible outcomes for an uncertain event.
  • Weakness: A device’s patch latency and difficulty, a composite metric that looks at attacker MITRE methods and our own scores to determine how hard each stage of compromise is to achieve.

Because the SEC cybersecurity rules require “oversight of risks from cybersecurity threats” and “management’s role in assessing and managing material risks from cybersecurity threats” (6), the scores generated by Darktrace E2E can aid end-user’s ability to identify risks facing their organization and assign responsibilities to address those risks.

E2E attack paths leverage a deep understanding of a customer’ digital environment and highlight potential attack routes that an attacker could leverage to reach critical assets or entities. Difficulty scores (see Figure 5) allow security teams to measure potential damage, exposure, and impact of an attack on a specific asset or entity.

An example of an attack path in a digital environment
Figure 3: An example of an attack path in a digital environment

Automatic executive threat reports

Darktrace’s solution automatically produces Executive Threat Reports that present a simple visual overview of model breaches (i.e., indicators of unusual and threatening behaviors) and activity in the network environment. Reports can be customized to include extra details or restricted to high level information.

These reports can be generated on a weekly, quarterly, and yearly basis, and can be documented by registrants in relation to Item 106(b) to document parts of their efforts toward assessing, identifying, and managing material risks from cybersecurity threats.

Moreover, Cyber AI Analyst incident reports (described above) can be leveraged to document key details concerning significant previous incidents identified by the Darktrace solution that the registrant determined to be ‘material’.

While the disclosures required by Item 106(c) relate to the governance processes by which the board of directors, the management, and other responsible bodies within an organization oversee risks resulting from cybersecurity threats, the information provided by Darktrace’s Executive Threat Reports and Cyber AI Analyst incident reports can also help relevant stakeholders communicate more effectively regarding the threat landscape and previous incidents.

DISCLAIMER

The material above is provided for informational purposes only. This summary does not constitute legal or compliance advice, recommendations, or guidance. Darktrace encourages you to verify the contents of this summary with your own advisors.

References

  1. Note that the rule does not set forth any specific timeline between the incident and the materiality determination, but the materiality determination should be made without unreasonable delay.
  2. https://www.sec.gov/files/form8-k.pdf
  3. https://www.sec.gov/news/press-release/2023-139
  4. https://www.ecfr.gov/current/title-17/chapter-II/part-229
  5. https://www.sec.gov/files/form8-k.pdf
  6. https://www.sec.gov/corpfin/secg-cybersecurity
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
Kendra Gonzalez Duran
Principal Analyst

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March 10, 2026

NetSupport RAT: How Legitimate Tools Can Be as Damaging as Malware

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What is NetSupport Manager?

NetSupport Manager is a legitimate IT tool used by system administrators for remote support, monitoring, and management. In use since 1989, NetSupport Manager enables users to remotely access and navigate systems across different platforms and operating systems [1].

What is NetSupport RAT?

Although NetSupport Manager is a legitimate tool that can be used by IT and security professionals, there has been a rising number of cases in which it is abused to gain unauthorized access to victim systems. This misuse has become so prevalent that, in recent years, security researchers have begun referring to NetSupport as a Remote Access Trojan (RAT), a term typically used for malware that enables a threat actor to remotely access or control an infected device [2][3][4].

NetSupport RAT activity summary

The initial stages of NetSupport RAT infection may vary depending on the source of the initial compromise. Using tactics such as the social engineering tactic ClickFix, threat actors attempt to trick users into inadvertently executing malicious PowerShell commands under the guise of resolving a non-existent issue or completing a fake CAPTCHA verification [5]. Other attack vectors such as phishing emails, fake browser updates, malicious websites, search engine optimization (SEO) poisoning, malvertising and drive-by downloads are also employed to direct users to fraudulent pages and fake reCAPTCHA verification checks, ultimately inducing them to execute malicious PowerShell commands [5][6][7]. This leads to the successful installation of NetSupport Manager on the compromised device, which is often placed in non-standard directories such as AppData, ProgramData, or Downloads [3][8].

Once installed, the adversary is able to gain remote access to the affected machine, monitor user activity, exfiltrate data, communicate with the command-and-control (C2) server, and maintain persistence [5]. External research has also highlighted that post-exploitation of NetSupport RAT has involved the additional download of malicious payloads [2][5].

Attack flow diagram highlighting key events across each phase of the attack phase
Figure 1: Attack flow diagram highlighting key events across each phase of the attack phase [2][5].

Darktrace coverage

In November of 2025, suspicious behavior indicative of the malicious abuse of NetSupport Manager was observed on multiple customers across Europe, the Middle East, and Africa (EMEA) and the Americas (AMS).

While open-source intelligence (OSINT) has reported that, in a recent campaign, a threat actor impersonated government entities to trick users in organizations in the Information Technology, Government and Financial Services sectors in Central Asia into downloading NetSupport Manager [8], approximately a third of Darktrace’s affected customers in November were based in the US while the rest were based in EMEA. This contrast underscores how widely NetSupport Manager is leveraged by threat actors and highlights its accessibility as an initial access tool.  

The Darktrace customers affected were in sectors including Information and Communication, Manufacturing and Arts, entertainment and recreation.

The ClickFix social engineering tactic typically used to distribute the NetSupport RAT is known to target multiple industries, including Technology, Manufacturing and Energy sectors [9]. It also reflects activity observed in the campaign targeting Central Asia, where the Information Technology sector was among those affected [8].

The prevalence of affected Education customers highlights NetSupport’s marketing focus on the Education sector [10]. This suggests that threat actors are also aware of this marketing strategy and have exploited the trust it creates to deploy NetSupport Manager and gain access to their targets’ systems. While the execution of the PowerShell commands that led to the installation of NetSupport Manager falls outside of Darktrace's purview in cases identified, Darktrace was still able to identify a pattern of devices making connections to multiple rare external domains and IP addresses associated with the NetSupport RAT, using a wide range of ports over the HTTP protocol. A full list of associated domains and IP addresses is provided in the Appendices of this blog.

Although OSINT identifies multiple malicious domains and IP addresses as used as C2 servers, signature-based detections of NetSupport RAT indicators of compromise (IoCs) may miss broader activity, as new malicious websites linked to the RAT continue to appear.

Darktrace’s anomaly‑based approach allows it to establish a normal ‘pattern of life’ for each device on a network and identify when behavior deviates from this baseline, enabling the detection of unusual activity even when it does not match known IoCs or tactics, techniques and procedures (TTPs).

In one customer environment in late 2025, Darktrace / NETWORK detected a device initiating new connections to the rare external endpoint, thetavaluemetrics[.]com (74.91.125[.]57), along with the use of a previously unseen user agent, which it recognized as highly unusual for the network.

Darktrace’s detection of HTTP POST requests to a suspicious URI and new user agent usage.
Figure 2: Darktrace’s detection of HTTP POST requests to a suspicious URI and new user agent usage.

Darktrace identified that user agent present in connections to this endpoint was the ‘NetSupport Manager/1.3’, initially suggesting legitimate NetSupport Manager activity. Subsequent investigation, however, revealed that the endpoint was in fact a malicious NetSupportRAT C2 endpoint [12]. Shortly after, Darktrace detected the same device performing HTTP POST requests to the URI fakeurl[.]htm. This pattern of activity is consistent with OSINT reporting that details communication between compromised devices and NetSupport Connectivity Gateways functioning as C2 servers [11].

Conclusion

As seen not only with NetSupport Manager but with any legitimate or open‑source software used by IT and security professionals, the legitimacy of a tool does not prevent it from being abused by threat actors. Open‑source software, especially tools with free or trial versions such as NetSupport Manager, remains readily accessible for malicious use, including network compromise. In an age where remote work is still prevalent, validating any anomalous use of software and remote management tools is essential to reducing opportunities for unauthorized access.

Darktrace’s anomaly‑based detection enables security teams to identify malicious use of legitimate tools, even when clear signatures or indicators of compromise are absent, helping to prevent further impact on a network.


Credit to George Kim (Analyst Consulting Lead – AMS), Anna Gilbertson (Senior Cyber Analyst)

Edited by Ryan Traill (Analyst Content Lead)

Appendices

Darktrace Model Alerts

·       Compromise / Suspicious HTTP and Anomalous Activity

·       Compromise / New User Agent and POST

·       Device / New User Agent

·       Anomalous Connection / New User Agent to IP Without Hostname

·       Anomalous Connection / Posting HTTP to IP Without Hostname

·       Anomalous Connection / Multiple Failed Connections to Rare Endpoint

·       Anomalous Connection / Application Protocol on Uncommon Port

·       Anomalous Connection / Multiple HTTP POSTs to Rare Hostname

·       Compromise / Beaconing Activity To External Rare

·       Compromise / HTTP Beaconing to Rare Destination

·       Compromise / Agent Beacon (Medium Period)

·       Compromise / Agent Beacon (Long Period)

·       Compromise / Quick and Regular Windows HTTP Beaconing

·       Compromise / Sustained TCP Beaconing Activity To Rare Endpoint

·       Compromise / POST and Beacon to Rare External

Indicators of Compromise (IoCs)

Indicator           Type     Description

/fakeurl.htm URI            NetSupportRAT C2 URI

thetavaluemetrics[.]com        Connection hostname              NetSupportRAT C2 Endpoint

westford-systems[.]icu            Connection hostname              NetSupportRAT C2 Endpoint

holonisz[.]com                Connection hostname              NetSupportRAT C2 Endpoint

heaveydutyl[.]com      Connection hostname              NetSupportRAT C2 Endpoint

nsgatetest1[.]digital   Connection hostname              NetSupportRAT C2 Endpoint

finalnovel[.]com            Connection hostname              NetSupportRAT C2 Endpoint

217.91.235[.]17              IP             NetSupportRAT C2 Endpoint

45.94.47[.]224                 IP             NetSupportRAT C2 Endpoint

74.91.125[.]57                 IP             NetSupportRAT C2 Endpoint

88.214.27[.]48                 IP             NetSupportRAT C2 Endpoint

104.21.40[.]75                 IP             NetSupportRAT C2 Endpoint

38.146.28[.]242              IP             NetSupportRAT C2 Endpoint

185.39.19[.]233              IP             NetSupportRAT C2 Endpoint

45.88.79[.]237                 IP             NetSupportRAT C2 Endpoint

141.98.11[.]224              IP             NetSupportRAT C2 Endpoint

88.214.27[.]166              IP             NetSupportRAT C2 Endpoint

107.158.128[.]84          IP             NetSupportRAT C2 Endpoint

87.120.93[.]98                 IP             Rhadamanthys C2 Endpoint

References

1.         https://mspalliance.com/netsupport-debuts-netsupport-24-7/

2.         https://blogs.vmware.com/security/2023/11/netsupport-rat-the-rat-king-returns.html

3.          https://redcanary.com/threat-detection-report/threats/netsupport-manager/

4.         https://www.elastic.co/guide/en/security/8.19/netsupport-manager-execution-from-an-unusual-path.html

5.          https://rewterz.com/threat-advisory/netsupport-rat-delivered-through-spoofed-verification-pages-active-iocs

6.           https://thehackernews.com/2025/11/new-evalusion-clickfix-campaign.html

7.         https://corelight.com/blog/detecting-netsupport-manager-abuse

8.         https://thehackernews.com/2025/11/bloody-wolf-expands-java-based.html

9.         https://unit42.paloaltonetworks.com/preventing-clickfix-attack-vector/

10.  https://www.netsupportsoftware.com/education-solutions/

11.  https://www.esentire.com/blog/unpacking-netsupport-rat-loaders-delivered-via-clickfix

  1. https://threatfox.abuse.ch/browse/malware/win.netsupportmanager_rat/
  2. https://www.virustotal.com/gui/url/5fe6936a69c786c9ded9f31ed1242c601cd64e1d90cecd8a7bb03182c47906c2

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About the author
George Kim
Analyst Consulting Lead – AMS

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March 5, 2026

Inside Cloud Compromise: Investigating Attacker Activity with Darktrace / Forensic Acquisition & Investigation

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Investigating Cloud Attacks with Forensic Acquisition & Investigation

Darktrace / Forensic Acquisition & Investigation™ is the industry’s first truly automated forensic solution purpose-built for the cloud. This blog will demonstrate how an investigation can be carried out against a compromised cloud server in minutes, rather than hours or days.

The compromised server investigated in this case originates from Darktrace’s Cloudypots system, a global honeypot network designed to observe adversary activity in real time across a wide range of cloud services. Whenever an attacker successfully compromises one of these honeypots, a forensic copy of the virtual server's disk is preserved for later analysis. Using Forensic Acquisition & Investigation, analysts can then investigate further and obtain detailed insights into the compromise including complete attacker timelines and root cause analysis.

Forensic Acquisition & Investigation supports importing artifacts from a variety of sources, including EC2 instances, ECS, S3 buckets, and more. The Cloudypots system produces a raw disk image whenever an attack is detected and stores it in an S3 bucket. This allows the image to be directly imported into Forensic Acquisition & Investigation using the S3 bucket import option.

As Forensic Acquisition & Investigation runs cloud-natively, no additional configuration is required to add a specific S3 bucket. Analysts can browse and acquire forensic assets from any bucket that the configured IAM role is permitted to access. Operators can also add additional IAM credentials, including those from other cloud providers, to extend access across multiple cloud accounts and environments.

Figure 1: Forensic Acquisition & Investigation import screen.

Forensic Acquisition & Investigation then retrieves a copy of the file and automatically begins running the analysis pipeline on the artifact. This pipeline performs a full forensic analysis of the disk and builds a timeline of the activity that took place on the compromised asset. By leveraging Forensic Acquisition & Investigation’s cloud-native analysis system, this process condenses hour of manual work into just minutes.

Successful import of a forensic artifact and initiation of the analysis pipeline.
Figure 2: Successful import of a forensic artifact and initiation of the analysis pipeline.

Once processing is complete, the preserved artifact is visible in the Evidence tab, along with a summary of key information obtained during analysis, such as the compromised asset’s hostname, operating system, cloud provider, and key event count.

The Evidence overview showing the acquired disk image.
Figure 3: The Evidence overview showing the acquired disk image.

Clicking on the “Key events” field in the listing opens the timeline view, automatically filtered to show system- generated alarms.

The timeline provides a chronological record of every event that occurred on the system, derived from multiple sources, including:

  • Parsed log files such as the systemd journal, audit logs, application specific logs, and others.
  • Parsed history files such as .bash_history, allowing executed commands to be shown on the timeline.
  • File-specific events, such as files being created, accessed, modified, or executables being run, etc.

This approach allows timestamped information and events from multiple sources to be aggregated and parsed into a single, concise view, greatly simplifying the data review process.

Alarms are created for specific timeline events that match either a built-in system rule, curated by Darktrace’s Threat Research team or an operator-defined created at the project level. These alarms help quickly filter out noise and highlight on events of interest, such as the creation of a file containing known malware, access to sensitive files like Amazon Web Service (AWS) credentials, suspicious arguments or commands, and more.

 The timeline view filtered to alarm_severity: “1” OR alarm_severity: “3”, showing only events that matched an alarm rule.
Figure 4: The timeline view filtered to alarm_severity: “1” OR alarm_severity: “3”, showing only events that matched an alarm rule.

In this case, several alarms were generated for suspicious Base64 arguments being passed to Selenium. Examining the event data, it appears the attacker spawned a Selenium Grid session with the following payload:

"request.payload": "[Capabilities {browserName: chrome, goog:chromeOptions: {args: [-cimport base64;exec(base64...], binary: /usr/bin/python3, extensions: []}, pageLoadStrategy: normal}]"

This is a common attack vector for Selenium Grid. The chromeOptions object is intended to specify arguments for how Google Chrome should be launched; however, in this case the attacker has abused the binary field to execute the Python3 binary instead of Chrome. Combined with the option to specify command-line arguments, the attacker can use Python3’s -c option to execute arbitrary Python code, in this instance, decoding and executing a Base64 payload.

Selenium’s logs truncate the Arguments field automatically, so an alternate method is required to retrieve the full payload. To do this, the search bar can be used to find all events that occurred around the same time as this flagged event.

Pivoting off the previous event by filtering the timeline to events within the same window using timestamp: [“2026-02-18T09:09:00Z” TO “2026-02-18T09:12:00Z”].
Figure 5: Pivoting off the previous event by filtering the timeline to events within the same window using timestamp: [“2026-02-18T09:09:00Z” TO “2026-02-18T09:12:00Z”].

Scrolling through the search results, an entry from Java’s systemd journal can be identified. This log contains the full, unaltered payload. GCHQ’s CyberChef can then be used to decode the Base64 data into the attacker’s script, which will ultimately be executed.[NJ9]

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About the author
Nathaniel Bill
Malware Research Engineer
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