Saturday, June 14, 2025
HomeCyber Security NewsNew TicTacToe Malware Dropper Attacking Windows Users

New TicTacToe Malware Dropper Attacking Windows Users

Published on

SIEM as a Service

Follow Us on Google News

Malware often targets Windows users due to the operating system’s widespread popularity, making it a lucrative target for threat actors. 

Windows systems have historically been perceived as more vulnerable due to their larger user base and most security vulnerabilities.

The FortiGuard team recently discovered a cluster of malware droppers delivering various final-stage payloads in 2023. 

- Advertisement - Google News

In a report shared with Cyber Security News (CSN), Fortinet affirmed these droppers use multiple stages of obfuscated payloads, with some identified payloads including Leonem, AgentTesla, SnakeLogger, RemLoader, Sabsik, LokiBot, Taskun, Androm, Upatre, and Remcos. 

Named ‘TicTacToe dropper,’ the group is identified by a standard Polish language string, ‘Kolko_i_krzyzyk,’ interpreting TicTacToe.

Document
Live Account Takeover Attack Simulation

How do Hackers Bypass 2FA?

Live attack simulation Webinar demonstrates various ways in which account takeover can happen and practices to protect your websites and APIs against ATO attacks .

Technical analysis

Security analysts found dropper samples delivering malware via .iso files in phishing attachments (T1566.001). This technique helps hide malware in iso files that aim to evade antivirus detection and use mark-of-the-web bypass (T1553.005). 

The ISO contained an executable that had layered DLL files that were decoded at runtime, and besides this, the extraction process is complicated.

TicTacToe dropper extraction process (Source - Fortinet)
TicTacToe dropper extraction process (Source – Fortinet)

The dropper consistently shared various remote access tools (RATs) for over a year. The initial sample, ‘ALco.exe’ (SHA-1 b6914b8fa3d0b67eb6173123652b7f0682cd24fb), is a 32-bit .NET executable. Upon execution, it loads a .NET PE DLL file directly into memory without disk writing.

Extracting the PE DLL file from the dropper EXE in the tool dnSpy (Source - Fortinet)
Extracting the PE DLL file from the dropper EXE in the tool dnSpy (Source – Fortinet)

The experts extracted the DLL at runtime by naming it ‘Hadval.dll’ or ‘stage2 payload.’ This 32-bit .NET PE DLL is obfuscated with DeepSea 4.1 and has unreadable function names and code flow obfuscation distinct from the primary executable’s obfuscation (undetermined version).

Obfuscated code of Hadval.dll shown in the dnSpy tool (Source - Fortinet)
Obfuscated code of Hadval.dll shown in the dnSpy tool (Source – Fortinet)

An open-source .NET de-obfuscator, De4dot successfully subverted DeepSea 4.1 obfuscation in Hadval.dll. The tool detected and de-obfuscated the file by providing a cleaner version using C#.

De-obfuscating intermediate payload hadval.dll (Source - Fortinet)
De-obfuscating intermediate payload hadval.dll (Source – Fortinet)

While debugging ‘ALco.exe,’ security analysts found that Hadval.dll extracts a gzip blob by revealing a 32-bit PE DLL (‘cruiser.dll’) protected by SmartAssembly. 

SmartAssembly safeguards .NET code from reverse engineering using obfuscation and encryption that prevent intellectual property theft. However, this info is visible using the ‘Detect It Easy’ tool.

Detect Easy (Source - Fortinet)
Detect Easy (Source – Fortinet)

De4dot cleaned the cruiser.dll file by revealing a ‘Munoz’ class that creates a copy of the executable in the temp folder, and this payload aligns with the one analyzed by Jai Minton.

The cruiser.dll code extracts and executes the stage 4 payload (‘Farinell2.dll’) from the bitmap object ‘dZAu.’

Antivirus engines recognized the final payload as ‘Zusy Banking Trojan’ or ‘Leonem,’ also known as ‘TinyBanker’ or ‘Tinba’ by some researchers.

Similarities

Here below, we have mentioned all the similarities in the different TicTacToe dropper samples:-

  • Multi-stage layered payloads.
  • Dropper payloads all .NET executables/libraries.
  • One or more payloads obfuscated using SmartAssembly software.
  • Nesting of DLL files used to unpack obfuscated payloads.
  • All payload stages were loaded reflectively.
  • Most primary .NET payloads had internal names with a combination of 3 to 8 letters in varying cases.
  • Many samples had standard strings for the month they were delivered.
  • Some of the samples try to create a copy of itself.

Since the dropper serves various payloads, it’s obvious to have a diverse user base. However, it’s essential to understand and prevent its execution to stop various types of payloads.

Tushar Subhra
Tushar Subhra
Tushar is a Cyber security content editor with a passion for creating captivating and informative content. With years of experience under his belt in Cyber Security, he is covering Cyber Security News, technology and other news.

Latest articles

Kali Linux 2025.2 Released: New Tools, Smartwatch and Car Hacking Added

Kali Linux, the preferred distribution for security professionals, has launched its second major release...

Arsen Launches AI-Powered Vishing Simulation to Help Organizations Combat Voice Phishing at Scale

Arsen, the cybersecurity startup known for defending organizations against social engineering threats, has announced...

NIST Releases New Guide – 19 Strategies for Building Zero Trust Architectures

The National Institute of Standards and Technology (NIST) has released groundbreaking guidance to help...

Spring Framework Flaw Enables Remote File Disclosure via “Content‑Disposition” Header

A medium-severity reflected file download (RFD) vulnerability (CVE-2025-41234) in VMware's Spring Framework has been...

Credential Abuse: 15-Min Attack Simulation

Credential Abuse Unmasked

Credential abuse is #1 attack vector in web and API breaches today (Verizon DBIR 2025). Join our live, 15-min attack simulation with Karthik Krishnamoorthy (CTO - Indusface) and Phani Deepak Akella (VP of Marketing - Indusface) to see hackers move from first probe to full account takeover.

Discussion points


Username & email enumeration – how a stray status-code reveals valid accounts.
Password spraying – low-and-slow guesses that evade basic lockouts.
Credential stuffing – lightning-fast reuse of breach combos at scale.
MFA / session-token bypass – sliding past second factors with stolen cookies.

More like this

Kali Linux 2025.2 Released: New Tools, Smartwatch and Car Hacking Added

Kali Linux, the preferred distribution for security professionals, has launched its second major release...

NIST Releases New Guide – 19 Strategies for Building Zero Trust Architectures

The National Institute of Standards and Technology (NIST) has released groundbreaking guidance to help...

Spring Framework Flaw Enables Remote File Disclosure via “Content‑Disposition” Header

A medium-severity reflected file download (RFD) vulnerability (CVE-2025-41234) in VMware's Spring Framework has been...