
Vidar Malware Analysis
PowerShell Dropper Analysis
This analysis examines a PowerShell dropper script designed to deploy the Vidar stealer malware.
The script begins by encoding variables after execution - a common technique used to evade antivirus detection.

Once decoded, the variables reveal the script's core functionality and attack methodology.

Directory Creation and Setup
The script creates the %LOCALAPPDATA% directory if it doesn't already exist. The Out-Null cmdlet suppresses any output to maintain stealth during execution.

This establishes the target location where the malware payload will be saved.

Payload Download and Concealment
The script executes three critical commands:
- Download: Retrieves the malware from
https://vx-events.com/build.exe. If this fails, the process terminates. - Folder Hiding: Conceals the
C:\Users\<user>\AppData\Localdirectory from standard view. - File Hiding: Hides the downloaded executable
C:\Users\<user>\AppData\Local\updater.exe.
Defense Evasion Techniques
The dropper implements sophisticated defense evasion through a custom Add-Exclusion function:

The Add-MpPreference cmdlet modifies Windows Defender settings, attempting to add an exclusion path for:
C:\Users\<user>\AppData\Local\updater.exe
Process Execution
Start-Process launches the malware with these parameters:
- Window Style: Hidden (maintains stealth)
- Privileges: Run as Administrator
- Wait Parameter: Suppresses the command prompt until process completion
The finally block performs cleanup operations, removes traces, displays a decoy message to the user, and terminates the script.
Main Malware Analysis
Initial Setup
For dynamic analysis, I placed updater.exe in %LOCALAPPDATA%, disabled "DLL can move" in DLL characteristics, and loaded the sample into x32dbg.
C2 Infrastructure Discovery
String analysis reveals the malware's command and control infrastructure:

The strings indicate that the malware uses the third entry as its user agent string for HTTP communications.
Process Injection Techniques
A critical component of Vidar's operation involves CreateProcessW, which spawns a duplicate process from the same directory. This technique serves multiple purposes:
- Detection Avoidance: Complicates analysis by distributing functionality across processes
- Memory Injection: The parent process writes malicious code into the child process memory space

Memory Manipulation
The analysis reveals:
- Process Handle:
0x43C(child process) - Source Address:
0x3FC0E60(data location) - Target Address:
0x400000(injection point) - Size:
0x400bytes per operation
The WriteProcessMemory operation executes repeatedly, typically seven consecutive times:

Rather than documenting every WriteProcessMemory call, analysts can examine the complete injected code at 0x400000 in the child process. The final injection address varies but was observed at 0xE4F008 during this analysis.
Process Activation
The ResumeThread function activates the injected logger process. At this point, I attached a debugger to the child process and continued execution in the parent.
Dynamic Library Dependencies
String analysis of the child process reveals dependencies on 149 functions across multiple system libraries:
- kernel32, ntdll, advapi32, user32, gdi32, shell32, ole32, ws2_32, shlwapi, wininet, bcrypt, dbghelp, msvcrt
Execution Flow Analysis
The core malicious functionality begins at 0x417210. Due to extensive control flow obfuscation with numerous conditional jumps, step-by-step analysis proves challenging. A more effective approach involves setting breakpoints on key API functions.
File System Operations
During execution, the malware creates a randomly named directory under C:\ProgramData\ (observed: y5ppz).
Network Communications
The malware performs URL parsing and HTTP communications:
- URL Parsing:
InternetCrackUrlAprocesseshttps://t.me/l793oy - Connection Establishment:
InternetConnectAconnects tot.meusing handles fromInternetOpenA - HTTP Requests:
HttpOpenRequestAsends requests to the Telegram URL

Command and Control Infrastructure
Following the Telegram communication, the malware contacts https://e.mx.goldenloafuae.com, which appears to be the primary C2 server. This URL was not identified by some sandbox environments, and the server was offline during analysis.
Since https://e.mx.goldenloafuae.com was operational, encrypted data exchange between the malware and C2 was confirmed.
Data Exfiltration Analysis
Target File Paths
The malware queries specific browser data locations:
"C:\\Users\\eyes\\AppData\\Local\\Google\\Chrome\\User Data\\*.*"
"C:\\Users\\eyes\\AppData\\Local\\Google\\Chrome\\User Data\\Default\\Local Extension Settings\\nkbihfbeogaeaoehlefnkodbefgpgknn\\*.*"
File Operations
Discovered files are copied to the malware-created directory using CopyFileA:
Source: "C:\\Users\\eyes\\AppData\\Local\\Google\\Chrome\\User Data\\Default\\Local Extension Settings\\nkbihfbeogaeaoehlefnkodbefgpgknn\\000004.log"
Destination: "C:\\ProgramData\\y5ppz\\jmgvk6ppph4e"
After successful exfiltration, the malware deletes the copied files to minimize forensic evidence.
Browser Targeting
Supported Browsers
The malware targets multiple browsers for credential and data theft:
Microsoft Edge (\Microsoft\Edge Beta\User Data), Google Chrome (\Google\Chrome SxS\User Data), Microsoft Edge SxS (\Microsoft\Edge SxS\User Data), Epic Privacy Browser (\Epic Privacy Browser\User Data), CocCoc Browser (\CocCoc\Browser\User Data)
Cryptocurrency Wallet Extensions
The extension targeting focuses on 35 different cryptocurrency wallets and password managers:
Major Wallets: MetaMask, Trust Wallet, Bitwarden, Authenticator, SafePal Wallet
TON Ecosystem: TON Wallet, MyTonWallet
Multi-Chain Wallets: OKX Web3 Wallet, Rainbow Wallet, Frontier Wallet, Bitget Wallet, Backpack Wallet
Solana Ecosystem: Solflare, Backpack Wallet
Cardano Ecosystem: GeroWallet, NamiWallet, Talisman Wallet
Specialized Wallets: Alephium Wallet, Hashpack, Leap Terra, Oxygen (Atomic), Ecto Wallet, Morphis Wallet, UniSat Wallet, Pontem Wallet, Xverse Wallet, Venom Wallet, PaliWallet, Fluvi Wallet, HAVAH Wallet, OpenMask Wallet, KardiaChain, RoninWalletEdge, KeePass Tusk, CyanoWallet, Ronin Wallet
Additional Evasion Techniques
Beyond the core stealing functionality, Vidar implements additional defense mechanisms including DNS manipulation - mapping antivirus vendor hostnames to 127.0.0.1, effectively preventing users from accessing antivirus downloads or online scanning services.
Conclusion
Based on the network communications observed, https://t.me/l793oy and https://steamcommunity.com/profiles/76561199829660832 likely serve as backup or alternative command and control channels for the Vidar operation.
This analysis demonstrates Vidar's sophisticated approach to credential theft, combining process injection, anti-analysis techniques, and targeted data exfiltration to maximize the value of stolen information while minimizing detection probability.