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Introduction

Recently the attackers employed the CVE-2017-0199 vulnerability in Microsoft Office to deliver a fileless form of the Remcos RAT. The Remcos RAT makes the attacker have full control of the systems that have been infected by this malware. This research will give a detailed technical description of the identified vulnerability, attack vector, and tactics together with the practical steps to counter the identified risks.

The Targeted Malware: Remcos RAT

Remcos RAT (Remote Control & Surveillance) is a commercially available remote access tool designed for legitimate administrative use. However, it has been widely adopted by cybercriminals for its stealth and extensive control capabilities, enabling:

• System control and monitoring
• Keylogging
• Data exfiltration
• Execution of arbitrary commands

The fileless variant utilised in this campaign makes detection even more challenging by running entirely in system memory, leaving minimal forensic traces.

Attack Vector: Phishing with Malicious Excel Attachments

The phishing email will be sent which appears as legitimate business communication, such as a purchase order or invoice. This email contains an Excel attachment that is weaponized to exploit the CVE-2017-0199 vulnerability.

Technical Analysis: CVE-2017-0199 Exploitation

Vulnerability Assessment

• CVE-2017-0199 is a Remote Code Execution (RCE) vulnerability in Microsoft Office which uses Object Linking and Embedding (OLE) objects.
• Affected Components:some text
  • Microsoft Word
  • Microsoft Excel
  • WordPad
• CVSS Score: 7.8 (High Severity)

Mechanism of Exploitation

The vulnerability enables attackers to craft a malicious document when opened, it fetches and executes an external payload via an HTML Application (HTA) file. The execution process occurs without requiring user interaction beyond opening the document.

Detailed Exploitation Steps

1. Phishing Email and Malicious Document some text
   • The email contains an Excel file designed to make use of CVE-2017-0199.
   • When the email gets opened, the document automatically connects to a remote server (e.g., 192.3.220[.]22) to download an HTA file (cookienetbookinetcache.hta).
2. Execution via mshta.exe some text
   • The downloaded HTA file is executed using mshta.exe, a legitimate Windows process for running HTML Applications.
   • This execution is seamless and does not prompt the user, making the attack stealthy.
3. Multi-Layer Obfuscation some text
   • The HTA file is wrapped in several layers of scripting, including: some text
     • JavaScript
     • VBScript
     • PowerShell
   • This obfuscation helps evade static analysis by traditional antivirus solutions.
4. Fileless Payload Deployment some text
   • The downloaded executable leverages process hollowing to inject malicious code into legitimate system processes.
   • The Remcos RAT payload is loaded directly into memory, avoiding the creation of files on disk.

Fileless Malware Techniques

1. Process Hollowing
The attack replaces the memory of a legitimate process (e.g., explorer.exe) with the malicious Remcos RAT payload. This allows the malware to:

• Evade detection by blending into normal system activity.
• Run with the privileges of the hijacked process.

2. Anti-Analysis Techniques

• Anti-Debugging: Detects the presence of debugging tools and terminates malicious processes if found.
• Anti-VM and Sandbox Evasion: Ensures execution only on real systems to avoid detection during security analysis.

3. In-Memory Execution

• By running entirely in system memory, the malware avoids leaving artifacts on the disk, making forensic analysis and detection more challenging.

Capabilities of Remcos RAT

Once deployed, Remcos RAT provides attackers with a comprehensive suite of functionalities, including:

• Data Exfiltration: some text
  • Stealing system information, files, and credentials.
• Remote Execution: some text
  • Running arbitrary commands, scripts, and additional payloads.
• Surveillance: some text
  • Enabling the camera and microphone.
  • Capturing screen activity and clipboard contents.
• System Manipulation: some text
  • Modifying Windows Registry entries.
  • Controlling system services and processes.
  • Disabling user input devices (keyboard and mouse).

Advanced Phishing Techniques in Parallel Campaigns

1. DocuSign Abuse
Attackers exploit legitimate DocuSign APIs to create authentic-looking phishing invoices. These invoices can trick users into authorising payments or signing malicious documents, bypassing traditional email security systems.

2. ZIP File Concatenation
By appending multiple ZIP archives into a single file, attackers exploit inconsistencies in how different tools handle these files. This allows them to embed malware that evades detection by certain archive managers.

Broader Implications of Fileless Malware

Fileless malware like Remcos RAT poses significant challenges:

• Detection Difficulties: Traditional signature-based antivirus systems struggle to detect fileless malware, as there are no static files to scan.
• Forensic Limitations: The lack of disk artifacts complicates post-incident analysis, making it harder to trace the attack's origin and scope.
• Increased Sophistication: These campaigns demonstrate the growing technical prowess of cybercriminals, leveraging legitimate tools and services for malicious purposes.

Mitigation Strategies

1. Patch Management some text
   • It is important to regularly update software to address known vulnerabilities like CVE-2017-0199. Microsoft released a patch for this vulnerability in April 2017.
2. Advanced Email Security some text
   • It is important to implement email filtering solutions that can detect phishing attempts, even those using legitimate services like DocuSign.
3. Endpoint Detection and Response (EDR)some text
   • Always use EDR solutions to monitor for suspicious behavior, such as unauthorized use of mshta.exe or process hollowing.
4. User Awareness and Training some text
   • Educate users about phishing techniques and the risks of opening unexpected attachments.
5. Behavioral Analysis some text
   • Deploy security solutions capable of detecting anomalous activity, even if no malicious files are present.

Conclusion

The attack via CVE-2017-0199 further led to the injection of a new fileless variant of Remcos RAT, proving how threats are getting more and more sophisticated. Thanks to the improved obfuscation and the lack of files, the attackers eliminate all traditional antiviral protection and gain full control over the infected computers. It is real and organisations have to make sure that they apply patches on time, that they build better technologies for detection and that the users themselves are more wary of the threats.

References

• Fortinet FortiGuard Labs: Analysis by Xiaopeng Zhang
• Perception Point: Research on ZIP File Concatenation
• Wallarm: DocuSign Phishing Analysis
• Microsoft Security Advisory: CVE-2017-0199

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Introduction

As technology advances, global connectivity becomes increasingly vital. Meta's "Project Waterworth" once completed, will reach five major continents and span over 50,000 km, making it the world’s longest subsea cable project using the highest-capacity technology available. This project is expected to bring industry-leading connectivity to the U.S., India, Brazil, South Africa, and other key regions. It will enable greater economic cooperation, facilitate digital inclusion, and open opportunities for technological development in these regions. 

In India, a project such as this will help accelerate this progress and support the country’s ambitious plans for its digital economy in cohesion with the significant growth and investment in digital infrastructure that is already underway. Subsea cable projects, such as Project Waterworth, are the backbone of global digital infrastructure, accounting for more than 95% of intercontinental traffic across the world’s oceans to seamlessly enable digital communication, video experiences, online transactions, and more.

Enhancing India's Digital Infrastructure

A subsea cable, or submarine cable, enhances global internet speed and reliability by carrying massive data volumes across ocean floors, connecting countries and continents. Compared to satellites, these cables offer greater stability and minimal disruptions.

Project Waterworth aims to build the world's longest 24-fibre pair cable, improving resilience and deployment speed. The project is expected to prevent the damages in high-risk areas, through the use of innovative routing with maximising deep-water placement (up to 7,000 meters) and enhanced burial techniques. This project will play a crucial role in the advancement of AI and emerging technologies, ensuring widespread access to their benefits in India.

CyberPeace Takeaways

The said project has the potential to have manifold implications ranging from economic and policy to India-US relations, data privacy and security concerns emerging from the increase in the data flows and others. A segregated list of takeaways is as follows:

1. Economic and policy implications: The project can lead to economic growth as it has the potential for job creation, and investment opportunities and can lead to positioning India as a digital hub globally. The creation of regulatory frameworks that can support and secure a large-scale infrastructure project such as this is necessary.
2. India- US Relations: This project will align with the commitments that were made in the US-India joint statement on undersea technology collaboration and strengthen them. It will further serve as a model for future collaborations between the nations’ tech entities. 
3. Concerns for Data Privacy and Security: A robust cybersecurity mechanism which can combat the potential risks associated with the increased data flows is required. The concerned authorities need to be vigilant in monitoring and ensuring compliance with the applicable data protection standards set such as the IT Act of 2000, the DPDP Act of 2023 and its rules(once finalised). 

Conclusion

India has been provided with a transformative opportunity to bolster its digital landscape by the advent of Project Waterworth. The enhancement of internet speed, stability, and capacity, will strengthen the country’s digital infrastructure and support economic growth. This project is also projected to accelerate AI-driven advancements in India. Moreover, this technological collaboration between India-US will strengthen their relations and set the stage for India to negotiate future global partnerships. A well-defined regulatory framework and strong cybersecurity measures will be crucial to proactively address data privacy, security, and governance challenges to ensure safe and equitable digital progress. As India continues its rapid digital expansion, engaging in informed discussions, policy planning, and strategic investments will be key to maximise Project Waterworth’s impact and propel India toward a more connected, innovative, and resilient digital future.

References

• https://techcrunch.com/2025/02/14/meta-confirms-project-waterworth-a-global-subsea-cable-project-spanning-50000km/?utm_source=chatgpt.com‍
• https://engineering.fb.com/2025/02/14/connectivity/project-waterworth-ai-subsea-infrastructure/

Introduction

MSMEs, being the cornerstone of the Indian economy, are one of the most vulnerable targets in cyberspace and no enterprise is too small to be a target for malicious actors. MSMEs hardly ever perform a cyber-risk assessment, but when they do, they may run into a number of internal problems, such as cyberattacks brought on by inadequate networking security, online fraud, ransomware assaults, etc.  Tackling cyber threats in MSMEs is critical mainly because of their high level of dependance on digital technologies and the growing sophistication of cyber attacks. Protecting them from cyber threats is essential, as a security breach can have devastating consequences, including financial loss, reputational damage, and operational disruptions.

Key Cyber Threats that MSMEs are facing

MSMEs are most vulnerable to are phishing attacks, ransomware, malware and viruses, insider threats, social engineering attacks, supply chain attacks, credential stuffing and brute force attacks and Distributed Denial of Service (DDoS) Attacks. Some of these attacks are described as under-

• Insider threats arise from employees or contractors who intentionally or unintentionally compromise security. It involves data theft, misuse of access privileges, or accidental data exposure. 
• Social engineering attacks involve manipulating individuals into divulging confidential information or performing actions that compromise security by pretexting, baiting, and impersonation. 
• Supply chain attacks exploit the trust in relationships between businesses and their suppliers and introduce malware, compromise data integrity, and disrupt operations.
• Credential stuffing and brute force attacks give unauthorized access to accounts and systems, leading to data breaches and financial losses.

Challenges Faced by MSMEs in Cybersecurity

The challenges faced  by MSMEs in cyber security are mainly due to limited resources and budget constraints which leads to other issues such as a lack of specialized expertise as MSMEs often lack the IT support of cyber security experts. Awareness and training are needed to mitigate poor understanding of cyber threats and their complexity in nature. Vulnerabilities in the supply chain are present as they rely on third-party vendors and partners often, introducing potential supply chain vulnerabilities. Regulatory compliance is often complex and is taken seriously only when an issue crops up but it needs special attention especially with the DPDP Act coming in. The lack of an incident response plan leads to delayed and inadequate responses to cyber incidents, increasing the impact of breaches.

Best Practices for Tackling Cyber Threats for MSMEs

To effectively tackle cyber threats, MSMEs should adopt a comprehensive approach such as:

• Implementing and enforcing strong access controls by using MFA or 2FA and password policies. Limiting employee access as role based and updating the same as and when needed.
• Regularly apply security patches and use automated patch management solutions to prevent exploitation of known vulnerabilities.
• Conduct employee training and awareness programs and promote a security-first approach for the employees and assessing employee readiness to identify improvement areas.
• Implement network security measures by using firewalls and intrusion detection systems. Using secure Wi-Fi networks via strong encryptions and changing default credentials for the router are recommended, as is segmenting networks to limit lateral movement within the network in case of a breach.
• Regular data backup ensures that in case of an attack, data loss can be recovered and made available in secure offsite locations to protect it from unauthorized access. 
• Developing an incident response plan that outlines the roles, responsibilities and procedure for responding to cyber incidents with regular drills to ensure readiness and clear communication protocols for incident reporting to regulators, stakeholders and customers.
• Implement endpoint security solutions using antivirus and anti-malware softwares. Devices should be against unauthorized access and implement mobile device management solutions enforcing security policies on employee-owned devices used for work purposes.
• Cyber insurance coverage will help in transferring financial risks in case of cyber incidents. It should have comprehensive coverage including business interruptions, data restoration, legal liabilities and incident response costs.

Recommended Cybersecurity Solutions Tailored for MSMEs

1. A Managed Security Service Provider offers outsourced cybersecurity services, including threat monitoring, incident response, and vulnerability management that may be lacking in-house.
2. Cloud-Based Security Solutions such as firewall as a service and Security Information and Event Management , provide scalable and cost-effective protection for MSMEs.
3. Endpoint Detection and Response (EDR) Tools detect and respond to threats on endpoints, providing real-time visibility into potential threats and automating incident response actions.
4. Security Awareness Training Platforms deliver interactive training sessions and simulations to educate employees about cybersecurity threats and best practices.

Conclusion

Addressing cyber threats in MSMEs requires a proactive and multi-layered approach that encompasses technical solutions, employee training, and strategic planning. By implementing best practices and leveraging cybersecurity solutions tailored to their specific needs, MSMEs can significantly enhance their resilience against cyber threats. As cyber threats continue to evolve, staying informed about the latest trends and adopting a culture of security awareness will be essential for MSMEs to protect their assets, reputation, and bottom line.

References:

• https://economictimes.indiatimes.com/small-biz/security-tech/security/cyber-security-pitfalls-and-how-negligence-can-be-expensive-for-msmes/articleshow/99508822.cms?from=mdr
• https://www.investopedia.com/financial-edge/0112/3-ways-cyber-crime-impacts-business.aspx 
• https://www.financialexpress.com/business/sme-msme-tech-cisco-launches-new-tool-for-smbs-to-assess-their-cybersecurity-readiness-2538348/ 
• https://www.cloverinfotech.com/blog/small-businesses-big-problems-are-cyber-attacks-crushing-indias-msmes/ 

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