June 14, 2016 By Douglas Bonderud 2 min read

Both the Carberp and Zeus malware families caused major havoc for banks and users alike, but in recent years, crackdowns on cybercrime discussion boards and the Dark Web marketplace pushed these threats out of the spotlight. Now, a more sophisticated mashup has emerged: the Bolek banking Trojan.

Borrowing a bit of code from both attack vectors and tossing in some of its own for good measure, Bolek is spreading quickly. Russian banks, Polish bitcoin sites and Canadian online banking portals have all recently come under attack.

Successful Successor

Based on its target capabilities and feature set, Bolek is adopting a “go big or go home” approach to banking fraud. As noted by SecurityWeek, the new malware not only targets both 32-bit and 64-bit versions of Windows, but can perform everything from webinjections to traffic interceptions, keylogging and credentials theft. It’s also possible for malicious actors to configure worm-like behavior in Bolek since the banking Trojan can receive updates that alter its functionality based on infection success and security response.

According to Softpedia, there are clear ties to both Carberp and Zeus: From Carberp, Bolek borrowed the architecture for a custom virtual file system used to hide key files from on-board security systems. From Zeus, it grabbed the robust webinjection mechanism, which makes it possible for cybercriminals to hijack browser processes and compromise entire webpages when users visit online banking portals.

Security firm Dr. Web claimed that “the main purpose of Trojan.Bolik.1 is to steal confidential information.” This aim is facilitated by both keeping C&C domains in runtime memory values and using elliptic curve cryptography to ensure all exfiltrated data is protected.

The Bolek Banking Trojan: Beyond Banks

As noted by security firm PhishMe, infrastructure used by the Bolek banking Trojan is being leveraged to distribute Android device malware. While the new banking attacks, telecom breaches and mobile malware infections are all under the control of a single operator or group, no one has come forward to claim responsibility.

With both Zeus and Carberp source code available, it’s entirely possible that Bolek’s basic structure is making the rounds on the Dark Web and being repurposed by innovative malware-makers. Ultimately, that’s the most worrisome piece of this puzzle: While novice-level attackers have access to prebuilt packages on the Dark Web, there is also a separate set of malware innovators willing to do more than exploit the status quo.

With the ability to initiate remote desktop protocol (RDP) connections and import persistent .dll files to trick devices into accepting the code as legitimate, the Bolek banking Trojan is a first look at the next iteration of financial malware: custom-built code that cherry-picks the best features from previous generations to create digitally superior offspring.

More from

Hive0137 and AI-supplemented malware distribution

12 min read - IBM X-Force tracks dozens of threat actor groups. One group in particular, tracked by X-Force as Hive0137, has been a highly active malware distributor since at least October 2023. Nominated by X-Force as having the “Most Complex Infection Chain” in a campaign in 2023, Hive0137 campaigns deliver DarkGate, NetSupport, T34-Loader and Pikabot malware payloads, some of which are likely used for initial access in ransomware attacks. The crypters used in the infection chains also suggest a close relationship with former…

Unveiling the latest banking trojan threats in LATAM

9 min read - This post was made possible through the research contributions of Amir Gendler.In our most recent research in the Latin American (LATAM) region, we at IBM Security Lab have observed a surge in campaigns linked with malicious Chrome extensions. These campaigns primarily target Latin America, with a particular emphasis on its financial institutions.In this blog post, we’ll shed light on the group responsible for disseminating this campaign. We’ll delve into the method of web injects and Man in the Browser, and…

Crisis communication: What NOT to do

4 min read - Read the 1st blog in this series, Cybersecurity crisis communication: What to doWhen an organization experiences a cyberattack, tensions are high, customers are concerned and the business is typically not operating at full capacity. Every move you make at this point makes a difference to your company’s future, and even a seemingly small mistake can cause permanent reputational damage.Because of the stress and many moving parts that are involved, businesses often fall short when it comes to communication in a crisis.…

Topic updates

Get email updates and stay ahead of the latest threats to the security landscape, thought leadership and research.
Subscribe today