Researchers reported a targeted malware campaign that disguised a malicious executable as a Notepad++-like open-source application to evade suspicion and gain execution on victim systems. The loader retrieved an encrypted config.dat blob, decrypted an embedded payload, and executed it directly in memory, enabling backdoor activity while leaving much of the visible binary appearing benign. Investigators assessed that the initial compromise likely stemmed from a watering hole attack, rather than downloads from official Notepad or Notepad++ distribution sites.
The same loader was observed delivering multiple follow-on payloads, including LaZagne credential-stealing malware and Defray ransomware, indicating the operation supported both espionage and disruptive objectives. Trend Micro said the abuse of trusted open-source software complicated detection because the encrypted blob lacked normal file headers and the trojanized program closely resembled legitimate software, and the report included filenames, detections, and SHA-256 indicators of compromise tied to the malicious loader and related payloads.

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Trend Micro released technical details and indicators of compromise for the campaign, including hashes and detections for the malicious notepad.exe loader, config.dat blobs, and payload files such as release.exe and virus2.dll. The report also noted the malicious executable did not come from official Notepad or Notepad++ distribution sites.
Investigators observed multiple instances of the same loader delivering different second-stage payloads, including LaZagne credential-stealing malware and Defray ransomware. Additional blob files using the same loader were also found to deliver other payloads, showing the loader was reused across attacks.
Trend Micro researchers documented a malware campaign using a trojanized Notepad++-like executable that loaded an encrypted config.dat blob, decrypted a payload, and executed it in memory for backdoor activity. They assessed the initial compromise likely came through a targeted watering hole attack and noted the malware was propagated further via administrative shares after infection.
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