Updated Shadowpad Malware Leads to Ransomware Deployment
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In November 2024, Trend Micro had two incident response cases in Europe with
similar C&C servers and other TTPs, suggesting a single threat actor behind
both operations. Both incidents involved Shadowpad, a malware family that has
been used by multiple advanced Chinese threat actors to perform espionage.
Hunting for similar TTPs, Trend Micro found a total of 21 companies being
targeted with similar malware toolkit in the last 7 months. Nine of them in
Europe, eight in Asia, three in the Middle East, and one in South America.
Trend Micro found eight different industries being affected, with more than
half of the targets being in the Manufacturing industry. They are listed in
the Victimology section.
In two cases, the threat actor deployed a ransomware of a previously
unreported family. This is an uncommon move for threat actors using Shadowpad,
although it has been reported that APT41 used Encryptor RaaS. It is not known
why the threat actor deployed the ransomware only for some of the targets that
were found.