Seqrite Labs reported phishing campaigns using fake PayPal-themed Word documents to deliver Cronus, a fileless ransomware strain that relies on heavily obfuscated VBA macros and PowerShell to evade detection. The malicious attachment launches PowerShell, retrieves a second-stage loader disguised as a JPEG, and executes the ransomware in memory through reflective DLL loading, avoiding a conventional on-disk payload and complicating forensic analysis.
The final .NET payload copies itself for persistence, creates Run key entries, enumerates and AES-encrypts files, terminates processes, changes the victim's wallpaper, drops a ransom note, and manipulates the clipboard to swap Bitcoin wallet addresses. The campaign's use of command and script obfuscation aligns with MITRE ATT&CK T1027.010, a technique widely used by both criminal and state-backed operators, and Seqrite said Cronus tooling shares code overlap with other fileless malware campaigns involving Revenge RAT, Arrow RAT, Async RAT, Andromeda RAT, XWorm, and njRAT.

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Seqrite said it observed the Cronus campaign on 14 July 2024 after finding a malicious PayPal-themed Word document on VirusTotal. The lure used a file named paypal_charges.doc that impersonated a PayPal receipt and initiated a fileless ransomware infection chain.
Seqrite Labs reported multiple July 2024 campaigns delivering a new fileless ransomware variant called Cronus via malicious VBA macros, PowerShell, and reflective DLL loading. The report detailed persistence, AES-based encryption, ransom note creation, process termination, clipboard wallet replacement, and code overlap with other fileless malware campaigns.
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