Researchers detailed Pandora ransomware as a Windows threat that encrypts files, appends the .Pandora extension, and drops a ransom note named Restore_My_Files.txt across affected directories. The malware was reported to create a mutex, generate victim-specific RSA keys, manually mount drives, and use multithreaded encryption to speed impact. Its ransom note claimed data theft and threatened public leaks through a Tor site, while one analysis identified the contact address as contact@pandoraxyz.xyz, indicating a likely double-extortion model combining encryption with data exfiltration pressure.
Technical analyses found Pandora heavily packed and obfuscated, using modified UPX sections, encrypted strings, indirect function calls, and control-flow tricks such as opaque predicates to frustrate reverse engineering. The malware also attempted to weaken defenses by patching EtwEventWrite and bypassing AmsiScanBuffer, while deleting shadow copies and emptying the recycle bin to hinder recovery. Multiple researchers said Pandora showed strong code and operational overlap with ROOK ransomware, suggesting it may be a rebrand, and Fortinet demonstrated that emulation with IDA Pro, IDAPython, and FLARE flare-emu could automatically resolve hidden calls and decrypt strings that would be impractical to analyze manually.

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On 2022-04-19, Fortinet published analysis showing how emulation in IDA Pro and flare-emu could be used to reverse Pandora's obfuscated function calls and decrypt strings automatically. The write-up identified artifacts including the mutex string "ThisIsMutexa" and ransom note name "Restore_My_Files.txt."
On 2022-03-21, an independent analyst published reverse-engineering notes on Pandora ransomware, covering its modified UPX packing, ETW and AMSI tampering, mutex use, shadow-copy deletion, and ransom note contents. The write-up also highlighted similarities with Rook ransomware.
On 2022-03-15, Cyble published a technical analysis of Pandora ransomware describing its encryption behavior, anti-analysis features, and similarities to ROOK. The report also documented the sample's ".Pandora" extension and ransom note "Restore_My_Files.txt."
Cyble says Pandora emerged publicly in early 2022 and came into the spotlight in March 2022 after naming several victims on its leak site. At the time of the report, around five victims had been posted.
Cyble reported that Pandora later posted the same victim that ROOK had claimed earlier, reinforcing suspicions of a rebrand or close operational overlap. The report places this reposting in March 2022.
Cyble states that Pandora ransomware announced its first victim on its leak site on 21 February 2022. This is presented as the first publicly observed victim disclosure for the group.
Cyble reported that ROOK ransomware's leak site went down around the end of January 2022. The disappearance preceded Pandora posting the same victim later in March 2022.
Cyble's report says ROOK ransomware claimed in December 2021 to have attacked one of the world's largest automotive suppliers of technology and components. This later became part of the evidence cited for similarities between ROOK and Pandora.
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