E-Business
Kaspersky Uncovers New Malware Family Used by Andariel, Lazarus’ Subgroup
During an in-depth malware investigation into the activities of Andariel, a notorious subgroup of Lazarus, Kaspersky researchers discovered a new malware family called EarlyRat, being used alongside Andariel’s known utilisation of the DTrack malware and Maui ransomware. The new analysis helps to reduce the time needed for attribution and proactively detect attacks at their early stages.
Andariel, an advanced persistent threat (APT) has operated for more than a decade within Lazarus group and has been on the radars of Kaspersky researchers. Most recently, they have found Andariel’s campaign and uncovered a previously undocumented malware family identifying its additional tactics, techniques, and procedures (TTPs).
Andariel initiates infections by leveraging a Log4j exploit, which enables the download of additional malware from its command-and-control (C2) infrastructure. Although the initial piece of downloaded malware was not captured, it was observed that the DTrack backdoor was subsequently downloaded shortly after the Log4j exploitation.
A fascinating aspect of the investigation emerged when Kaspersky was able to replicate the command execution process.
It became evident that commands within the Andariel’s campaign were being executed by a human operator, presumably one with little experience, as evidenced by the numerous mistakes and typos made. For example, the operator mistakenly wrote “Prorgam” instead of “Program”.
Among the findings, Kaspersky researchers encountered a version of EarlyRat in one of the Log4j cases. In some cases, EarlyRat was downloaded via the Log4j vulnerability, while in others it was discovered that phishing documents ultimately deployed EarlyRat.
EarlyRat, like many other Remote Access Trojans (RATs), collects system information upon activation and transmits it to the C2 server using a specific template. The transmitted data includes unique machine identifiers (ID) and queries, which are encrypted using cryptographic keys specified in the ID field.
In terms of functionality, EarlyRat exhibits simplicity, primarily limited to executing commands. Interestingly, EarlyRat shares some high-level similarities with MagicRat – the malware that has been deployed by Lazarus before – such as the utilisation of frameworks (QT for MagicRat and PureBasic for EarlyRat) and the restricted functionality of both RATs.
“In the vast landscape of cybercrime, we encounter numerous players and groups that operate with fluid compositions. It is common for groups to adopt code from others, and even affiliates who can be considered as independent entities, switching between different types of malware.
“Adding to the complexity, subgroups of APT groups, such as Lazarus’ Andariel, engage in typical cybercrime activities like deploying ransomware. By focusing on tactics, techniques, and procedures (TTPs), as we did with Andariel, we can significantly reduce attribution time and detect attacks at their early stages,” comments Jornt van der Wiel, senior security researcher, GReAT at Kaspersky.
President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.
His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.
He said the fibre optic layout is part of other projects being embarked on.
“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.
“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.
He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.
In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.
The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.
Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.
It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.
African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.
The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.
It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.
“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.
“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.
Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.
Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.
“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.
From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.
Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.
In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.
By Nancy Werteen
When you get anti-hacking advice, you’ve probably heard “Don’t use a simple password,” or “Don’t plug in that USB you found on the ground.”
But there’s one form of hacking that doesn’t always require a computer, and it costs businesses about 4.88 million dollars a year.
Modern hackers aren’t trying to get into your computer; they’re trying to get into you.
“They’ll try to learn about you a little bit, and they’ll try to use that information against you to try to get you to complete some action, maybe to send somebody some money,” said Kevin Moran, PhD, Assistant Professor of Computer Science, Cyber Security and Privacy Cluster, University of Central Florida.
IBM calls this human hacking, because it exploits human error instead of system error.
“With people just being busy and maybe not very carefully checking some of the emails or the phone calls that they get, can be something unfortunately that people can fall victim to,” said Moran.
Also known as social engineering, this often takes the form of phishing, where the hacker tries to “fish” the information out of you by impersonating family, friends, or even your bank.
There’s also baiting, where the hacker baits you with something of value. Remember the Nigerian prince scam?
That’s a famous example of baiting. There’s also pretexting, where the hacker will claim the victim has already been hacked, and that the hacker can fix it if you just send over your passwords. So, what can you do?
“Just as a rule of thumb, instead of clicking on links and emails, just go to the website yourself. And that will prevent, a lot of these types of attacks from happening,” explained Moran.
Phishing can take many forms.
Spear phishing targets people with access to confidential information, often to get access into an entire business, and whale phishing targets CEOs or political figures.
Search engine phishing is when hackers create fake websites promising services or goods you’ll never receive.
Angler phishing is when hackers create fake social media accounts impersonating famous people or companies.
Finally, vishing and smishing is phishing done through phone calls and texts respectively.
Aliko Dangote Signs out @ Dangote Sugar Refinery as Chairman
Court Declines Access Bank’s Request to Freeze MTNN Account over N180Bn Claims
FG Mulls Fibre Optic Layout to Bridge Internet Gaps
Report Reveals New Malware Posing as an AI Assistant Steals User Data
MTN Mulls Establishment of Fintech Firm in Nigeria, Others
News3 days agoCDCFIB Warns against Recruitment Racketeers
General News21 hours agoAfDB to Provide $184.1mfor Africa’s Largest Solar Energy, Battery Storage Project
Telecom3 days agoMeta, FMCIDE Unveil AI Accelerator to Drive Innovation in Nigeria
News3 days agoFG May Forfeits $4m from World Bank Loan over Audit Flop
Telecom3 days agoNigeria Leads the Charge in Green Innovation @MTN’s Africa PachiPanda Challenge
Broadcasting3 days agoAfia TV and Radio Stamps Footprints in Lagos
E-Financial3 days agoNDIC Begins Final Settlements to Creditors of Liquidated Premier Bank
Telecom2 days agongCERT Issues High Alert to Nigerians Using Android Phones