Squirrelwaffle
SquirrelWaffle is a malware loader distributed through phishing and spam email campaigns, including malicious URLs and malicious Microsoft Office attachments such as Word and Excel documents. Infection commonly relies on user execution, specifically enabling malicious VBA macros, including AutoOpen-style macros, in .doc or .xls files. Depending on the initial infection vector, the packed dropper is launched via rundll32 or regsvr32, unpacks itself in memory, and uses PowerShell to execute its payload. Reported samples were packed with a custom packer to hide payloads.
Observed configuration data includes a list of command-and-control URLs, and in some cases C2 IPs, as well as the command "regsvr32.exe -s". SquirrelWaffle has encoded communications with its C2 servers using Base64 and has exfiltrated victim data via HTTP POST requests to C2 infrastructure. It has also downloaded a second-stage payload from C2 as a ".txt" file that is actually a disguised PE and loaded it in memory. Anti-analysis behavior includes a hardcoded list of IP addresses to block that belong to sandboxes and analysis platforms.
The malware has been associated with email exfiltration-focused campaigns and has been observed in activity where DEV-0464 distributed QakBot and other malware such as SquirrelWaffle.
Hunt this family in your stack
Mallory pivots from this family to the IOCs, detections, and named campaigns that touch your stack, and pages you when something new lands.
Vulnerabilities exploited
1 CVE Mallory has correlated with this family across public research and vendor advisories. Each row links to the full Mallory page for that vulnerability.
Meanwhile, DEV-0464 distributes the “TR” Qakbot and other malware such as SquirrelWaffle. | DEV-0464 also rapidly adopted the Microsoft Support Diagnostic Tool (MSDT) vulnerability (CVE-2022-30190) in their campaigns.
Groups observed using it
1 distinct threat actor attributed by public researchers. Open in Mallory to see the full evidence chain and overlapping campaigns.
Meanwhile, DEV-0464 distributes the “TR” Qakbot and other malware such as SquirrelWaffle.
Techniques & procedures
23 distinct techniques documented for this family, organized by ATT&CK tactic.
Initial Access
3 techniquesELBRUS is very active in compromising organizations via phishing campaigns that lead to their JSSLoader and Griffon malware.
The content repeatedly describes threat actors and malware being delivered through phishing or spearphishing emails containing malicious attachments such as Microsoft Office documents, PDFs, RAR/ZIP archives, CHM, ISO, IMG, HTA, LNK, and executable files disguised as documents.
Multiple actors and malware families are described as being delivered via spearphishing/phishing emails containing malicious links (e.g., APT28 used URL shorteners to redirect to credential harvesting sites; APT29 used links to ZIP files; APT33 used links to .hta files; BlackTech used links to cloud services; Wizard Spider used links to Google Drive/free file hosting).
Execution
5 techniquesThe content repeatedly describes threat actors and malware using PowerShell scripts/commands for execution, download, staging, reconnaissance, persistence, credential access, lateral movement, and defense evasion; e.g., "Sandworm Team used PowerShell scripts to run a credential harvesting tool in memory to evade defenses."
During the 2016 Ukraine Electric Power Attack, Sandworm Team used the xp_cmdshell command in MS-SQL. During the 2025 Poland Wiper Attacks, the adversaries leveraged PsExec to run cmd.exe commands on multiple victim machines. Numerous malware families and groups are described as using cmd.exe, cmd /c, Windows command shell, or command-line interfaces to execute commands, payloads, reconnaissance, persistence, cleanup, and ransomware actions.
The content repeatedly describes threat actors and malware using VBScript, VBS, VBA macros, and Visual Basic code for execution, payload delivery, persistence, reconnaissance, and command execution.
Cobalt Group has sent Word OLE compound documents with malicious obfuscated VBA macros that will run upon user execution.
Stealth
6 techniquesThe content repeatedly describes payloads, strings, configuration files, scripts, URLs, and binaries being obfuscated or encoded using Base64, XOR, RC4, AES, RSA, hex encoding, custom algorithms, and other methods across many malware families and threat actors.
"Sandworm Team used UPX to pack a copy of Mimikatz"; "APT38 has used several code packing methods such as Themida, Enigma, VMProtect, and Obsidium"; "Lazarus Group packed malicious .db files with Themida to evade detection."
The content repeatedly describes malware and threat actors decoding, decrypting, or deobfuscating payloads, strings, configuration data, commands, and C2 traffic prior to execution or use, e.g., 'APT28 macro uses the command certutil -decode to decode contents of a .txt file storing the base64 encoded payload' and 'Action RAT can use Base64 to decode actor-controlled C2 server communications.'
AppleSeed can call regsvr32.exe for execution. APT19 used Regsvr32 to bypass application control techniques. APT32 created a Scheduled Task/Job that used regsvr32.exe to execute a COM scriptlet that dynamically downloaded a backdoor and injected it into memory. ... Raspberry Robin uses regsvr32.exe execution without any command line parameters for command and control requests to IP addresses associated with Tor nodes.
Discovery
3 techniquesThe content repeatedly describes actors and malware using commands and APIs such as ipconfig /all, ifconfig, arp -a, route print, netsh interface show, GetAdaptersInfo, and GetIpNetTable to gather IP addresses, MAC addresses, DNS, DHCP, gateways, routing tables, ARP cache, proxy settings, and network adapter/interface details.
The content repeatedly describes malware and threat actors collecting usernames, identifying logged-in users, running whoami/query user/quser, checking admin status, and enumerating user sessions.
The content repeatedly describes malware and threat actors collecting host details such as OS version, hostname, architecture, CPU, memory, BIOS, domain, language, and other configuration data; e.g., "APT41 uses multiple built-in commands such as systeminfo and net config Workstation to enumerate victim system basic configuration information."
Collection
1 techniqueCommand and Control
3 techniquesThe content repeatedly describes threat actors, malware, and campaigns using HTTP and/or HTTPS for command and control, including examples such as BlackEnergy communicating with C2 over HTTP POST requests and many other families using HTTP/S for C2.
C2 traffic from ADVSTORESHELL is encrypted, then encoded with Base64 encoding... APT19 HTTP malware variant used Base64 to encode communications to the C2 server... APT33 has used base64 to encode command and control traffic.
Exfiltration
1 techniqueADVSTORESHELL exfiltrates data over the same channel used for C2... Agrius exfiltrated staged data using tools such as Putty and WinSCP, communicating with command and control servers... numerous malware and groups sent victim data, files, credentials, or host information over existing C2 channels.
Other
1 techniqueRecent activity
34 sources tracked across advisories, community write-ups, and news. New activity surfaces here as Mallory finds it.
Loader observed in prior campaigns alongside QakBot and Cobalt Strike, with activity described as focused on email exfiltration and enabling email replay attacks.
Loader malware distributed alongside Qakbot by DEV-0464; used to establish access and facilitate further payload delivery in campaigns that can lead to ransomware.
Malware distributed by DEV-0464 alongside Qakbot in campaigns that can lead to ransomware activity.
Malware that has been executed using regsvr32.exe.
The version that knows your environment.
Match every observed IP, domain, and hash against your live telemetry.
Named campaigns wielding this family, with evidence pinned to each claim.
CVEs this family uses for access and lateral movement.
YARA, Sigma, Snort, and vendor rules, auto-deployed to your SIEM.
Every documented technique, ranked by evidence weight.
Reddit, Mastodon, and CTI community discussion around this family.