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Netwalker

NetWalker, also known as Mailto, is a human-operated ransomware family that emerged in 2019 and became prominent through double-extortion operations combining file encryption with theft and threatened publication of victim data.

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Netwalker

Family profile

NetWalker, also known as Mailto, is a human-operated ransomware family that emerged in 2019 and became prominent through double-extortion operations combining file encryption with theft and threatened publication of victim data. It evolved into a ransomware-as-a-service operation, enabling affiliates to deploy the malware against high-value organizations while operators maintained extortion infrastructure such as a Tor-based leak site and victim negotiation mechanisms. NetWalker has been associated with targeting organizations globally, with repeated reporting on impacts in education, healthcare, government, and other enterprise environments, including continued attacks on medical organizations during the COVID-19 period.

NetWalker is a Windows-focused ransomware family that has used heavily obfuscated PowerShell-based loaders and in-memory execution to reduce detection. Reported tradecraft includes multi-layer decoding and decryption of obfuscated payload stages, reflective DLL loading, DLL injection into legitimate processes, and process hollowing for stealth. The malware has also been observed modifying the Windows Registry for persistence and executing directly from memory. During execution, NetWalker can terminate security-related processes, delete shadow copies to inhibit recovery, and encrypt data on local drives, network shares, and administrative shares. Variants have used embedded configuration data to define ransom-note content, file exclusions, extensions, and process kill lists.

NetWalker intrusions have also involved extensive post-compromise activity by operators and affiliates using legitimate administrative and offensive tools. Reported tooling includes credential-dumping utilities, remote administration software, Active Directory reconnaissance tools, and remote execution utilities to expand access and deploy ransomware across victim environments. Stolen credentials have been used to facilitate lateral movement and remote execution. Delivery has included malicious email attachments, spam campaigns using topical lures such as COVID-19 themes, trojanized applications, and fileless execution chains. Public reporting has also linked NetWalker activity to broader enterprise intrusion patterns involving exposed remote services and affiliate-driven access operations.

The malware is notable for pairing mature intrusion tradecraft with extortion pressure. Victims that refused payment were threatened with public exposure of stolen data through NetWalker’s leak infrastructure, making restoration from backups alone insufficient to fully mitigate impact. Law-enforcement action in early 2021 disrupted parts of the operation and led to charges against an alleged operator, but NetWalker remains a significant example of the ransomware-as-a-service model and the broader shift toward data-theft-backed extortion in enterprise ransomware campaigns.

Capabilities

  • Credential Theft
  • Defense Evasion
  • Exfiltration
  • Extortion
  • Lateral Movement
  • Persistence
  • Post Exploitation
  • Process Injection
  • Reconnaissance

Operational record

1
YARA rules
1
Ransom notes
1
Leak sites
0 available

Credential Theft

  • Mimikatz
  • ProcDump

Discovery Enum

  • AdFind

LOLBAS

  • PsExec

Offsec

  • Cobalt Strike

Reported operators

Threat actors

3 named in public reporting
UNC2628

UNC2628 is thought to partner with other RaaS services including REvil and Netwalker.

Wazawaka

In a January 2021 thread on Exploit regarding the arrest of an affiliate for the NetWalker ransomware program and its subsequent demise, Wazawaka seems already resigned those limitations.

Exploited software

Vulnerabilities linked to Netwalker

3 CVEs

MITRE ATT&CK

Netwalker in ATT&CK

65 distinct techniques

Techniques

65 techniques
T1486 Data Encrypted for Impact T1027 Obfuscated Files or Information T1059.001 PowerShell T1112 Modify Registry T1105 Ingress Tool Transfer T1620 Reflective Code Loading T1053 Scheduled Task/Job T1082 System Information Discovery T1140 Deobfuscate/Decode Files or Information T1055.012 Process Hollowing T1059 Command and Scripting Interpreter T1003 OS Credential Dumping T1055 Process Injection T1106 Native API T1059.005 Visual Basic T1657 Financial Theft T1059.003 Windows Command Shell T1135 Network Share Discovery T1490 Inhibit System Recovery T1566.001 Spearphishing Attachment T1518.001 Security Software Discovery T1021 Remote Services T1566 Phishing T1497.001 System Checks T1018 Remote System Discovery T1482 Domain Trust Discovery T1021.002 SMB/Windows Admin Shares T1021.001 Remote Desktop Protocol T1036 Masquerading T1133 External Remote Services T1222 File and Directory Permissions Modification T1134.001 Token Impersonation/Theft T1204.002 Malicious File T1190 Exploit Public-Facing Application T1562 Impair Defenses T1041 Exfiltration Over C2 Channel T1070.004 File Deletion T1567.002 Exfiltration to Cloud Storage T1070 Indicator Removal T1057 Process Discovery T1078 Valid Accounts T1083 File and Directory Discovery T1489 Service Stop T1021.005 VNC T1074 Data Staged T1027.002 Software Packing T1189 Drive-by Compromise T1204 User Execution T1570 Lateral Tool Transfer T1537 Transfer Data to Cloud Account T1027.007 Dynamic API Resolution T1547.001 Registry Run Keys / Startup Folder T1567.003 Exfiltration to Text Storage Sites T1068 Exploitation for Privilege Escalation T1218 System Binary Proxy Execution T1219 Remote Access Tools T1071 Application Layer Protocol T1047 Windows Management Instrumentation T1562.001 Disable or Modify Tools T1203 Exploitation for Client Execution T1218.010 Regsvr32 T1569.002 Service Execution T1027.009 Embedded Payloads T1027.010 Command Obfuscation T1055.001 Dynamic-link Library Injection

Reporting

Research mentioning Netwalker

Aug 3
Securelist

Incident response statistics and cases at educational institutions in Brazil | Securelist

Brazilian educational institutions faced a sustained wave of cyber incidents in incident-response cases reviewed from January 2025 through June 2026, with attackers most often gaining access through valid accounts, exploitation of public-facing applications, insider activity, and weak patch management. High-severity cases were dominated by ransomware, particularly DragonForce and LockBit 3, and private institutions were more frequently affected than public ones. Investigators also found that outdated and unpatched systems, including Windows 10 deployments kept past end of support and unpatched Windows Server 2016 hosts, materially increased exposure. Representative intrusions showed attackers relying on common but effective techniques rather than novel tradecraft. One LockBit case involved a custom deployment built from the leaked builder and spread with PsExec, aligning with the well-documented abuse of Windows service execution for lateral movement and payload launch. Another DragonForce intrusion used AnyDesk and log wiping to maintain access and hinder response, while a separate insider case involved a Python keylogger installed on a shared machine to capture credentials. The findings underscore the need for MFA, least privilege, removal of shared accounts, tighter control of remote-access tools, stronger backups, centralized logging, longer EDR retention, and faster patching.

Jul 15
Esentire

DinDoor, DenoRAT, and NightshadeC2: Analyzing TAG-150's Evolving Tradecraft | eSentire

eSentire reported that a June 2026 intrusion against a finance-sector customer began with a ClickFix-style social engineering lure that triggered a malicious command, an MSI installer, and a multi-stage malware chain attributed to TAG-150. The infection sequence used an apparently AI-generated PowerShell script, Griffin20.ps1, to install the Deno runtime and launch the Deno-based loader DinDoor, which then deployed DenoRAT and ultimately NightshadeC2. Investigators said the malware communicated with command-and-control infrastructure including webstizkgao[.]com and used hard-coded JWTs carrying campaign identifiers such as buildId 0def066f14754be9 and buildNote LearnV7msi. The tooling provided broad post-compromise capability, with DenoRAT functioning as a RAT, loader, and stealer that supported command execution, persistence, host fingerprinting, file operations, screenshots, PTY and VNC-style remote control, and theft from browsers and cryptocurrency wallets. eSentire said the malware could also bypass Chromium App-Bound Encryption through DLL injection, a technique widely associated with in-memory execution, evasion, and abuse of legitimate Windows processes in ATT&CK T1055.001. The final NightshadeC2 payload was delivered through a PowerShell-driven Python in-memory loader, decrypted from an encrypted container using AES-256-CBC with a key derived from MoscauHighSmoke, and reflectively mapped into a Python process before the affected host was isolated and remediated.

Mar 22
Sentinelone Labs Subdomain

Multi-Platform SMAUG RaaS Aims To See Off Competitors - SentinelLabs

SMAUG is a ransomware-as-a-service (RaaS) operation that advertises 64-bit payloads for Windows, Linux, and macOS, positioning itself as a multi-platform option for affiliates. The service reportedly charges a 20% affiliate fee plus a 0.2 BTC registration fee, and provides a web-based campaign builder, customizable ransom demands, offline encryption, and a "Company Mode" that allows a single decryption key to unlock multiple systems inside one targeted organization. Victims are directed to a Tor-based payment portal, while operators reportedly offer automated support for both affiliates and victims and bar attacks against CIS countries. On Windows, SMAUG uses obfuscated Go binaries that gather system details and stored browser credentials, establish persistence through Registry Run Keys consistent with MITRE ATT&CK T1547.001, and then encrypt files for impact using AES-256 with keys protected by RSA-2048, aligning with T1486 Data Encrypted for Impact tradecraft. The combination of credential collection, registry-based autostart, and hybrid cryptography reflects a mature ransomware model designed to support repeatable intrusions and broad enterprise targeting across multiple operating systems.

Oct 28
Picus Security

A Detailed Walkthrough of Ranzy Locker Ransomware TTPs

Ranzy Locker emerged as a ransomware-as-a-service operation and a rebranded successor to ThunderX, with some code and infrastructure overlap also linked to Ako. Researchers reported that the group adopted double extortion, stealing data before encrypting systems and threatening to publish it on the "Ranzy Leak" site if victims refused to pay. The malware used Salsa20 file encryption with RSA-2048-protected keys, appended extensions such as .ranzy and .RNZ, and directed victims to ransom notes and a Tor-based payment and support portal. Reporting tied Ranzy intrusions to phishing, exploitation of Microsoft Exchange, and abuse of RDP valid accounts and brute-force access. Once inside a network, the malware enumerated local and network drives, discovered shares, accessed credentials, deleted backups and shadow copies, and disabled recovery options to increase pressure on victims. An FBI flash report cited in one analysis said the gang had compromised more than 30 U.S. businesses across multiple sectors by July 2021, and researchers noted that no public decryptor was available at the time despite detailed mapping of the group's tactics to the MITRE ATT&CK framework.

Sep 2
Sentinelone Labs Subdomain

Ranzy Ransomware | Better Encryption Among New Features of ThunderX Derivative - SentinelLabs

May 14
The Record Media

Popular hacking forum bans ransomware ads | The Record from Recorded Future News

The Russian-speaking cybercrime forum XSS banned all ransomware-related topics, including affiliate program advertisements, ransomware rentals, and sales of ransomware software. The forum’s administrator said ransomware had brought excessive publicity and law-enforcement attention to the site, with scrutiny intensifying after the DarkSide attack on Colonial Pipeline. Researchers cited in the reports said XSS had been one of the main underground venues used by ransomware groups to recruit affiliates and promote ransomware-as-a-service operations. The move drew negative reactions from representatives linked to REvil and LockBit, underscoring how important major forums were to the ransomware ecosystem. A day later, Exploit, another major Russian-language cybercrime forum, reportedly imposed a similar ban on ransomware advertisements. The back-to-back restrictions suggested that pressure from high-profile attacks, political fallout, and increased law-enforcement focus was forcing prominent underground platforms to distance themselves from overt ransomware promotion.

May 13
Securelist

Evolution of JSWorm ransomware | Securelist

Nefilim emerged as a distinct ransomware operation built from Nemty 2.5 code, abandoning the earlier ransomware-as-a-service model in favor of private, targeted intrusions and email-based ransom negotiations. The malware encrypts files with AES-128 and protects keys with RSA-2048, appends the .NEFILIM extension, and drops NEFILIM-DECRYPT.txt, while also stealing data and threatening to publish it if victims do not pay. Researchers linked Nefilim to the broader JSWorm/Nemty/Nefilim lineage through shared cryptographic logic, ransom-note patterns, and infrastructure, showing a progression from mass distribution via the RIG exploit kit, spam, and the Trik/Phorpiex botnet to enterprise-focused attacks.

May 13
Bleeping Computer

Popular Russian hacking forum XSS bans all ransomware topics

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