A malvertising campaign traced to at least October 2016 targeted millions of visitors to popular news websites with advertisements that concealed malicious JavaScript in image transparency values. ESET subsequently identified the activity as a new wave of AdGholas, which had switched from Angler and Neutrino to the Stegano exploit kit, also known as Astrum. The infection chain used an Internet Explorer vulnerability to check the victim’s environment and three Flash vulnerabilities to compromise susceptible systems without requiring user interaction.
The campaign employed multiple anti-analysis checks, encrypted communications, and payloads disguised as GIF images to evade detection. Observed payloads contained or downloaded Ursnif and Ramnit, exposing victims to credential theft, surveillance, banking fraud, and further compromise. The attack demonstrated that visiting a legitimate website could trigger infection through third-party advertising; eliminating legacy Internet Explorer and Flash exposure and restricting untrusted advertising content are key defensive measures against this attack pattern.

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5 events from the most recent confirmed update back to the earliest known activity.
The analyzed campaign was traced to at least the beginning of October 2016 and targeted millions of readers of popular news websites, focusing on Canada, Britain, Australia, Spain, and Italy. Malicious advertisements concealed JavaScript in image transparency values and initiated the infection chain without requiring a click.
Stegano activity targeted users in the Czech Republic in spring 2015.
Earlier Stegano exploit-kit activity targeted Dutch users in late 2014.
A December 15 update attributed the analyzed malvertising campaign to a new wave of AdGholas after comparison with Proofpoint and Trend Micro findings. The update identified a switch from Angler and Neutrino to Stegano, also known as Astrum.
Researchers detailed Stegano's image-based code concealment, anti-analysis checks, use of an Internet Explorer vulnerability and three Flash vulnerabilities, and encrypted payload delivery. They published compromise indicators and identified observed payloads as containing or downloading Ursnif and Ramnit.
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