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IOCs

Qbot is a banking Trojan — a malware designed to collect banking information from victims. Qbot targets organizations mostly in the US. It is equipped with various sophisticated evasion and info-stealing functions and worm-like functionality, and a strong persistence mechanism.

Botnet
Type
Unknown
Origin
1 January, 2009
First seen
27 August, 2026
Last seen
Also known as
Pinkslipbot
QakBot
Quakbot

How to analyze Qbot with ANY.RUN

Type
Unknown
Origin
1 January, 2009
First seen
27 August, 2026
Last seen

IOCs

IP addresses
40.126.32.76
23.52.181.141
162.159.36.2
135.232.92.137
48.209.6.48
172.211.123.250
128.24.231.64
23.52.181.212
74.178.240.51
20.190.160.130
48.192.1.65
172.211.123.249
48.209.138.189
92.123.104.51
95.100.102.9
20.165.94.63
95.100.102.101
48.209.138.168
2.16.241.218
74.178.76.54
Hashes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fe3cr.delivery.mp.microsoft.com
www.microsoft.com
settings-win.data.microsoft.com
client.wns.windows.com
slscr.update.microsoft.com
login.live.com
go.microsoft.com
activation-v2.sls.microsoft.com
google.com
www.bing.com
th.bing.com
nexusrules.officeapps.live.com
self.events.data.microsoft.com
edge.microsoft.com
officeclient.microsoft.com
copilot.microsoft.com
messaging.lifecycle.office.com
ecs.office.com
omex.cdn.office.net
config.edge.skype.com
URLs
https://go.microsoft.com/fwlink/?linkid=2257403&clcid=0x409
https://login.live.com/rst2.srf
https://slscr.update.microsoft.com/sls/%7b522d76a4-93e1-47f8-b8ce-07c937ad1a1e%7d/x64/10.0.19045.4046/0?ch=686&l=en-us&p=&pt=0x30&wua=10.0.19041.3996&mk=dell&md=dell
https://fe3cr.delivery.mp.microsoft.com/clientwebservice/ping
https://slscr.update.microsoft.com/sls/%7be7a50285-d08d-499d-9ff8-180fdc2332bc%7d/x64/10.0.19045.4046/0?ch=686&l=en-us&p=&pt=0x30&wua=10.0.19041.3996&mk=dell&md=dell
http://www.microsoft.com/pkiops/crl/microsoft%20ecc%20product%20root%20certificate%20authority%202018.crl
https://www.bing.com/threshold/xls.aspx?t=5&dl=1&f=9&wsbc=1
https://th.bing.com/th?id=odswg.754216a1-88c9-44ff-b139-586395b69628&w=420&h=236&c=13&rs=1&p=0
https://th.bing.com/th?id=opn.pe_489223ad-97fa-4373-ad93-7f8a6f97c634&w=140&h=96&c=1&rs=1&p=0
https://th.bing.com/th?id=osk.3ba19440475e4b7cfe01e20a1b08771e&w=140&h=96&c=1&rs=1&p=0
https://th.bing.com/th?id=osk.ff26052e61fc8a72024fd4b53d29c47d&w=140&h=96&c=1&rs=1&p=0
https://th.bing.com/th?id=ocge.9njb654d39wx_v12_main&w=80&h=80&c=1&rs=1&p=0
https://th.bing.com/th?id=opn.pe_a3bcba32-e781-4cbe-adc9-9214a6d52932&w=140&h=96&c=1&rs=1&p=0
https://th.bing.com/th?id=opn.pe_d9408c8e-5724-46a9-b7f1-4bf910a26067&w=140&h=96&c=1&rs=1&p=0
https://th.bing.com/th?id=osk.f5873d89f968cc2d480b0f930e95ae4f&w=140&h=96&c=1&rs=1&p=0
https://th.bing.com/th?id=osk.c945232f88e2e525082f0a93a530d950&w=140&h=96&c=1&rs=1&p=0
https://th.bing.com/th?id=ocge.9plgt00f15xs_abtesting_835b67e1-8ab1-490d-a6ab-e8840fad9bde&w=80&h=80&c=1&rs=1&p=0
https://th.bing.com/th?id=odswg.bc00fe98-00b2-46fc-96fe-f385f609e12f&w=132&h=154&c=1&rs=1&p=0
https://th.bing.com/th?id=opn.pe_73774666-380a-41c6-9f06-23e82f450df0&w=140&h=96&c=1&rs=1&p=0
https://th.bing.com/th?id=ocge.9p9rpk71ggql_v3_main&w=80&h=80&c=1&rs=1&p=0
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What is Qbot?

Qbot, also known as QakBot, Pinkslipbot, and Quakbot, is a banking trojan — malware designed to steal banking credentials, online banking session information, personal details of the victim, or any other banking data.

Although early versions of Qbot were spotted all the way back in 2009, its creators have maintained this trojan. Today, it continues to be active and features worm-like abilities to spread over networks, supports advanced web-injections techniques, and has a persistence mechanism that some researchers believe to be one of the best in its class. Additionally, the trojan has anti-VM, anti-debug and anti-sandbox functionally that makes research and analysis quite difficult.

Furthermore, Qbot is polymorphic, which means that it can change itself even after it is installed on an endpoint. The Trojan constantly modifies files, and the dropper that the newer version of Qbot continuously cycles through command and control servers.

The combination of these functions makes QakBot highly dangerous malware. Qbot has been used in several successful attacks on organizations and governmental structures and has infected tens of thousands of machines.

General description of QakBot malware

Qbot is dispatched in targeted attacks against businesses. With this trojan, the attackers go after bank accounts of organizations or private users who access their personal online banking cabinets from corporate networks by piggybacking into banking sessions of the victim.

The Trojan uses man-in-the-browser functionality to perform web injections, allowing it to alter what the victims see on the banking website when browsing from an infected machine. Interestingly, while most malware samples that use this technique contain the web injection code in their config file, Qbot can fetch the code from a controlled domain as it performs malicious activity.

Another trait that differentiates Qbot from other Trojans is its worm-like functionality. Qbot can copy itself using shared drives and spread over the network, spreading on its own or after receiving a command from the command and control server. Together with a highly developed persistence mechanism that uses registry runkeys and scheduled tasks, these traits make erasing Qbot from the infected network very difficult. The Trojan is designed to sustain itself despite system reboots and automatically launch itself when the system is turned on again.

This infamous persistence functionality has allegedly caused compromise of sensitive information in two government organizations in Massachusetts in 2011, while worm-like behavior helped the Qbot infiltrate thousands of machines and create a botnet with over 1,500 devices resulting from that attack.

Most of the targets that Qbot goes after are US-based organizations. Only about twenty percent of the new attack businesses are located outside of the United States. Although apart from the government offices, most of the attacks have been directed at banking, tech, and healthcare industries, there is no hard evidence to suggest that the attackers are aiming at specific fields. This means that businesses working in any industry can get hit by QakBot.

It is also important to note that an advanced cybergang operates the malware. Qbot attacks have been appearing on the radar of security researchers periodically, with phases of high activity and intervals when attacks would completely stop. This behavior is likely to avoid attracting too much attention from law enforcement and allows attackers to tweak and improve the malware during their time off.

The group behind Qbot is also notoriously known for pushing out new modified malware samples at astonishing rates. They repack and re-scramble the code daily, making malware identification by means of anti-virus software unreliable.

Unfortunately, people's identities behind Qbot are unknown, but it is widely believed that the cyber gang is based somewhere in Eastern Europe.

Qbot malware analysis

This video recorded in the ANY.RUN interactive malware hunting service shows the execution process of Qbot. You can also research other malware like Netwire and Predator the Thief.

qbot_process_graph

Figure 1: Displays the tree of processes created by the ANY.RUN interactive malware hunting service

QakBot execution process

Since Qbot is mostly targeted at the corporate sector, the main way of its penetration into infected systems is through a malicious document. In our example, maldoc starts several processes, including Powershell through by using a macro. Then, using cmd.exe, this trojan starts a chain of commands and executions, creating folders and temporary files. It utilizes Powershell to download the payload. Notably, the payload's name is as simple as six of the same digits or, less often, letters. Also, the payload often has a .png extension, although it is an executable file.

After that trojan starts its main execution, QakBot tries to evade detection by overwriting itself with the legitimate Windows executable calc.exe using the following commands: cmd.exe /c ping.exe -n 6 127.0.0.1 & type "C:\Windows\System32\calc.exe" > “Path to malware executable.” Qbot also injects explorer.exe and adds itself into autorun for persistence.

Qbot distribution

Qbot uses multiple attack vectors to infect victims. The malware uses email spam and phishing campaigns, as well as vulnerability exploits to infiltrate its targets. One of the more recent versions of the malware was observed being distributed by a dropper.

The dropper that installs Qbot is equipped with a delayed execution function. This means that after the dropper itself is downloaded onto a target machine, it waits around fifteen minutes before dropping the payload, likely in an effort to trick automatic sandboxes and avoid detection.

How to detect Qbot using ANY.RUN?

Sometimes Qbot trojan creates files that allow analysts to detect it with a high degree of certainty. To detect Qbot, open the "Files" tab in the lower part of the task's window and take a look at the created folders. If you see folders with names such as "Zulycjadyc" and "imtaykad" within C:\Users\admin\AppData\ Roaming\Microsoft\ directory and .exe or .dat file with a name "ytfovlym," as shown on the figure below, be sure that it is Qbot in front of you.

how_to_detect_qbot

Figure 2: Detecting Qbot by local files

Conclusion

Security researchers successfully reversed a sample of QakBot in a 2020 investigation. Since the researchers managed to pinpoint a command and control server, they could identify the true scale of the attack. What they uncovered was an active Qbot botnet consisting of over 2,000 computers.

If there was any doubt that Qbot is a severe threat, hopefully, this should clear it. Advanced web injections, sophisticated anti-evasion techniques, worm-like functions, and an experienced cyber gang that constantly updates the malware is a dangerous cocktail.

As security researchers, it is essential to analyze malware like Qbot since code obfuscation makes research complicated. Every investigation has the potential to uncover important data that will help businesses avoid attacks or identify and eradicate this Trojan quicker. At the same time, Qbot avoids dynamic analysis with some automatic sandboxes with the delayed execution of its dropper and other tricks, interactive sandboxes like the one presented by the ANY.RUN malware hunting services are not so easily fooled.

ANY.RUN presents a good opportunity to perform dynamic analysis on this malware from a secure online environment and share your findings with fellow researchers in our public malware database.

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