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The Dangerous Comeback of the Year

Emotet may be back for the crown as king of malware

By Jason Chavarría | November 24, 2021 | Category: Attacks

Emotet is a malicious program whose distribution infrastructure was taken down this year in January by law enforcement agencies from several countries. Up until that point, Emotet had infected more than 1.6M computers "and caused hundreds of millions of dollars in damage worldwide," according to a publication by the US Department of Justice’s Office of Public Affairs. The victims stemmed from various sectors, including the government, academia, banking, technology, e-commerce and healthcare.

Even though Emotet’s dismantling drastically reduced the number of events related to that malware, the victory was relatively short-lived. Recently, TrickBot, a malware closely linked to Emotet, has been distributing emails with attachments laced with malware in a way that resembles the latter. These facts point to the possible comeback of the "king of malware," as the president of the German Federal Office for Information Security called it.

Emotet’s rise and fall

Emotet was discovered in Europe in 2014. Its first victims were small companies located mainly in Austria and Germany. In its beginnings, its functionality was that of the standard banking malware. That is, it was essentially a program used to steal credentials for bank accounts. It was delivered to unsuspecting users via legit-looking emails referencing financial documents, using lures like "Your Invoice" or "Payment Details." The user was prompted to follow an embedded link to a malicious Word file or download the file directly from the email. The Word document asked the user to enable macros. If enabled, that triggered an automated procedure to read hidden code that installed the malware. Once in the system, Emotet read the victim’s emails and constructed malicious ones out of them, which it later sent to the victim’s contacts.

The malware later evolved to have spamming and malware delivery services. Functioning as the initial infection vector, it started distributing Qbot and TrickBot banking Trojans, as well as Ryuk ransomware. Emotet has always liked to expand its horizons. In recent years, it was present in several countries and was rented to cybercrime groups. Further, in February last year, it was found that the malware was scanning Wi-Fi networks from connected affected devices. It tested passwords trying to get access, which it then leveraged to spread to other devices.

The difficulty of getting rid of Emotet was one of its strengths. It has been called polymorphic. This refers to the malware’s mutability. Every time its code was accessed, it somehow suffered changes. Given that many antivirus programs perform signature-based searches (i.e., they find a threat if it matches a unique identifier), the ever-changing Emotet escaped detection. Another evasion technique was that Emotet could lie dormant if it arrived in a sandbox environment. This refers to an isolated test environment where malware functionalities can be observed without major threats to servers and other resources.

Emotet’s destructiveness throughout the years was huge, with the remediation of each incident in the US costing up to $1M. In 2020, it was the most distributed malware worldwide. But on January 26, 2021, Europol informed in a press release that investigators had taken down Emotet’s infrastructure, which "involved several hundreds of servers located across the world," in a multinational operation. Further, in April, a mass uninstall got rid of the malware from infected computers. With Emotet banished, TrickBot and a few other contenders stepped up to claim the throne.

Emotet, back from the grave

On November 14, security researchers Luca Ebach and colleagues observed on their TrickBot trackers that this malware was attempting to install Emotet. Well, at least what looks like Emotet. They executed a sample, a URL dropped by TrickBot, in their sandbox system. They observed that "The network traffic originating from the sample closely resembles what has been observed previously […​]: the URL contains a random resource path and the bot transfers the request payload in a cookie […​]." However, the researchers noted that the malware now uses different encryption to hide data and secures network traffic with HTTPS instead of unencrypted HTTP. This means that communication between the infected system and Emotet’s command and control server can be concealed. This state of affairs suggests that TrickBot is now offering help in Emotet’s resurrection by installing it on systems it has infected. Indeed, it has been reported elsewhere that Emotet’s new variant is not redistributing itself but relying on TrickBot for spreading.

A thread in the SANS Internet Storm Center forums reported that the emails of the new variant have three types of attachments: Word files, Excel files and a password-protected zip folder containing a Word document. The original poster added that the emails were spoofed replies. They were created out of data from stolen email chains that may have been gathered from previously infected hosts. All in all, this new variant seems at least as sophisticated as you would expect from Emotet. Therefore, it may be a sign that there is trouble ahead.

Emotet infection process

Figure 1. The process of new Emotet infections. Source:

It has been said (e.g., here and here) that it is uncertain whether or not Emotet will get back to its place on the top. Admittedly, Emotet is pretty far from regaining its previous title. But it really is too soon to tell. For now, security researchers are urging network administrators to block a list of command and control servers to prevent traffic to them and, ultimately, infection.

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