Technical Analysis of Pikabot

Key Points

Pikabot is a new malware trojan that emerged in early 2023 that consists of two components: a loader and a core module.
The core module implements the malicious functionality that includes the ability to execute arbitrary commands and inject payloads that are provided by a command-and-control server.
Pikabot utilizes a code injector to decrypt and inject the core module.
The core module and its injector use a series of anti-analysis techniques. In addition, they use the public tool …

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