Webwyrm Malware Attacking Over 100,000 Users Across 50 Countries

Threat actors are evolving their Tactics, Techniques, and Procedures (TTPs) at an alarming rate. 

With technological advancements and increased awareness of cybersecurity measures, they continually adapt to exploit vulnerabilities and enhance their attack success rates.

Webwyrm, a worldwide scam mimicking 1000 plus companies, impacts over 100,000 victims in more than 50 countries, with potential losses exceeding $100 million, resembling the ‘Blue Whale Challenge.’

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Webwyrm Key Numbers
Webwyrm Key Numbers (Source – Cloudesk)

Scams’ scale and sophisticated TTPs indicate a skilled and persistent threat group using strong OpSec. CloudSEK shared findings with global law enforcement to take down infrastructure and notify impersonated organizations.

Webwyrm Malware Attack

Victim complaints reveal losses of over $200,000 for one impersonated company, and besides this, the researchers uncovered:-

  • 1000 impersonated organizations
  • 6000 fake domains spanning 12 Autonomous Systems

With losses averaging $100,000 per impersonated company and numerous victims, the scam’s potential collective impact could exceed $100 million, affecting over 100,000 people, highlighting its substantial threat.

Webwyrm scammers target victims on social media, especially WhatsApp, possibly focusing on job seekers by referencing recruitment portals. 

They lure victims with fake job offers, requiring cryptocurrency deposits on platforms like KUCOIN or SHAKEPAY for supposed security or returns.

Victims, once onboard, create organization-related accounts and receive 100 USDT. They perform combo tasks initially, earning well, but later get stuck in a loop, depleting their bank accounts in hopeless attempts to complete tasks.

After getting in touch with the referrer or developers, they demand that the victims complete their daily responsibilities or threaten to freeze their accounts while providing a 24-hour money extension. 

When victims are shut out, they join a discussion where others brag about their successes in order to support the authenticity of the scam.

Campaign Enablers

Here below, we have mentioned the campaign enablers:-

  • Understanding Victim Susceptibility Factors
  • Initial Gains and Trust-Building Withdrawal
  • Eluding Detection through Infrastructure Rotation
  • Precise Regional Targeting
  • Strategic Victim Engagement
  • Mobile-Centric Design and Cryptocurrency Transactions
  • Keyword Selection

Researchers conducted a thorough investigation to identify the corporate sources affected by impersonation, demonstrating Webwyrm’s global reach and varied impact locations.

Geographic origins
Geographic origins (Source – Cloudesk)

Targeted Industries

Here below, we have mentioned all the targeted industries:-

  • IT Services
  • Software Development
  • Mobile App Development
  • User Experience
  • Digital Marketing
  • Web Development
  • SEO
  • E-Commerce

Countermeasures

Here below, we have mentioned all the recommended countermeasures:-

  • Tracing Scammer Origins through Job Portals
  • Collaborative Action
  • Rapid Response Teams
  • Domain Blacklisting
  • Seize Assets
  • Educational Campaigns

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Tushar is a Cyber security content editor with a passion for creating captivating and informative content. With years of experience under his belt in Cyber Security, he is covering Cyber Security News, technology and other news.