Conti ransomware continued to operate with updated capabilities that improved both evasion and impact in enterprise networks. Research shows the malware is commonly delivered through a multi-stage, fileless-style chain using Cobalt Strike, Meterpreter, and reflective DLL injection so the final ransomware payload can run largely from memory and remain off disk until the attack is underway. Once launched, Conti encrypts local systems and SMB-accessible shares, scans subnets for lateral movement, and in some cases pairs encryption with data-theft extortion by threatening to leak stolen files hosted on services such as Mega.
Technical analyses describe Conti as optimized for speed and disruption, using aggressive multi-threading, selective encryption, and per-file ChaCha keys protected by RSA public-key cryptography. Later variants added command-line options to reboot victims into Windows Safe Mode with networking, automatically log in with administrator credentials, and continue encrypting while many security tools are disabled. The malware also deletes Volume Shadow Copies, changes API hashing and encrypted file extensions to frustrate detection, and streamlines ransom negotiations through direct victim-specific TOR chat links.

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A Ukrainian researcher published leaked Conti source code and chat logs after the invasion of Ukraine. The leak occurred after the January 2022 malware update, and the report notes the most recent ransomware code had not been leaked at that time.
ThreatLabz identified an updated Conti ransomware build in late January 2022 that added Safe Mode reboot and auto-logon capabilities, changed API hashing behavior, updated encrypted file extensions, and modified the ransom-payment workflow.
Sophos published analysis showing Conti being delivered through a multi-stage Cobalt Strike and Meterpreter infection chain using reflective DLL injection, with the ransomware payload briefly hosted on command-and-control servers only during active attacks.
A reverse-engineering analysis documented Conti ransomware version 2 as a 32-bit Windows ransomware family optimized for fast encryption in business environments, including local and SMB share encryption, multi-threading, and shadow copy deletion.
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