BI.ZONE Threat Intelligence reported that the Fluffy Wolf cluster, also tracked as Watch Wolf, launched a new campaign against Russian companies in construction, consulting, engineering, retail, e-commerce, and industrial sectors. The attackers used phishing emails disguised as financial claims or debt-collection notices from partners or contractors, delivering malicious archives either directly or through GitHub links to make the messages appear legitimate and improve delivery past email filters.
The campaign deployed a multi-stage malware chain that included a new C++ loader dubbed PowerLoader, which starts hidden PowerShell, retrieves scripts from a command server, and downloads PureCrypter to install final payloads. BI.ZONE said the operators used PureLogs for credential and data theft, a new PureRAT variant with the PluginRemoteDesktop module for remote access, and in at least one case deployed Pay2Key ransomware based on Mimic; researchers added that much of the toolset appears to have been sourced through malware-as-a-service offerings.

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BI.ZONE said at least one incident in the campaign involved deployment of Pay2Key ransomware based on Mimic. This marked an escalation from credential theft and remote access tooling to ransomware impact in at least one case.
Researchers reported that Fluffy Wolf was using a new version of PureRAT that includes the PluginRemoteDesktop module. BI.ZONE also said the group continued using PureLogs to steal credentials and other data.
BI.ZONE observed a new C++ loader dubbed PowerLoader in Fluffy Wolf operations. It launches hidden PowerShell, retrieves scripts from a command server, and downloads PureCrypter to deliver the final payload.
In the campaign, phishing emails delivered malicious archives either directly or through GitHub links, a technique researchers said helped the attackers appear legitimate and evade email filtering. The archives contained loaders and droppers used to deploy PureLogs, PureRAT, and Pay2Key ransomware.
BI.ZONE Threat Intelligence reported that Fluffy Wolf conducted attacks against Russian organizations in construction, consulting, engineering, retail, e-commerce, and industrial sectors between March and May 2026. The campaign used phishing emails posing as financial claims or debt-collection notices from partners or contractors.
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