Unmasking the Kinship: Maverick and Coyote Banking Malwares’ Strong Connections

In the evolving threat landscape, understanding the intricate relationships between different malware strains is critical for robust defense. Recently, cybersecurity researchers from CyberProof have shed light on a concerning link between two sophisticated banking trojans, Maverick and Coyote, both primarily targeting financial institutions and users in Brazil. This discovery is not merely academic; it provides crucial insights into the adversaries’ tactics, techniques, and procedures (TTPs), enabling more effective countermeasures against these financial cyber threats.

The Emergence of Maverick: A Wolf in New Clothing

The Maverick banking malware initially came to light through insidious file downloads, often propagated via seemingly innocuous channels like WhatsApp. This social engineering tactic is a hallmark of many banking trojans, preying on user trust and a lack of digital hygiene. Once a user downloads and executes the malicious file, Maverick initiates a complex infection chain designed to compromise sensitive financial data. Its objective is clear: to illicitly gain access to online banking credentials, enabling unauthorized transactions and emptying victim accounts.

Coyote’s Shadow: Recalling a Familiar Threat

The name Coyote resonates with security analysts familiar with the Brazilian threat landscape. This earlier, yet equally potent, banking malware campaign exhibited a similar modus operandi, employing advanced techniques to evade detection and siphon funds. The operational similarities between Coyote and the newly identified Maverick are striking, suggesting either co-development, shared infrastructure, or a common threat actor group leveraging established, effective codebases. This pattern of re-using or adapting successful malware components is common among cybercriminals looking to maximize efficiency and minimize development costs.

Shared Signatures: The Forensic Evidence Linking Maverick and Coyote

The CyberProof researchers meticulously analyzed Maverick, uncovering a trove of indicators that point directly to its kinship with Coyote. These “strong links” aren’t just superficial resemblances; they delve into the core operational mechanics of the malware. Key similarities identified include:

• Infection Chains: Both Maverick and Coyote utilize highly sophisticated and multi-stage infection processes. This often involves initial droppers, loaders, and encrypted payloads to bypass security controls and make forensic analysis more challenging.
• Behavioral Patterns: The way these malwares interact with infected systems and target financial applications is nearly identical. This includes techniques for hooking browser processes, injecting malicious code into legitimate banking sessions, and circumventing two-factor authentication (2FA) mechanisms.
• Code Commonalities: While not identical, significant overlaps in code structure, function names, and even specific obfuscation techniques suggest a shared origin or development kit. This code reuse allows threat actors to rapidly deploy new variants without starting from scratch.
• Targeting Methodology: Both threats exclusively focus on users and financial institutions within Brazil, indicating a specialized knowledge of the region’s banking infrastructure and security measures.

The convergence of these forensic details provides compelling evidence that Maverick is not an entirely novel threat but rather a highly evolved or rebranded iteration of the successful Coyote banking malware. Understanding these connections streamlines threat intelligence efforts and allows security teams to anticipate future evolutions.

Remediation Actions for Individuals and Financial Institutions

Given the persistent and adaptable nature of banking trojans like Maverick and Coyote, proactive and multi-layered security measures are paramount. Here’s actionable advice for mitigating these threats:

• For Individuals:
• Exercise Extreme Caution with Downloads: Be highly suspicious of unsolicited messages, especially those containing links or attachments, even from known contacts on platforms like WhatsApp. Verify the sender and content through an alternative communication channel.
• Keep Software Updated: Regularly update operating systems, web browsers, antivirus software, and all applications. Patches often address vulnerabilities exploited by such malware. A common vulnerability leveraged by banking trojans might include an unpatched browser flaw, which could be referenced like CVE-2023-XXXXX (placeholder for a relevant browser vulnerability).
• Use Strong, Unique Passwords and 2FA: Implement strong, unique passwords for all online accounts, especially banking. Enable two-factor authentication (2FA) wherever possible, as it adds a critical layer of security against credential compromise.
• Employ Reputable Antivirus/Endpoint Protection: Ensure your devices are protected by up-to-date antivirus or endpoint detection and response (EDR) solutions capable of identifying and quarantining malware.
• Regularly Monitor Bank Statements: Promptly review all financial transactions for any unauthorized activity. Report suspicious charges immediately to your bank.
• For Financial Institutions:
• Enhance Threat Intelligence Sharing: Actively participate in intelligence sharing platforms to stay informed about emerging threats and TTPs specific to the region.
• Strengthen Endpoint Security: Deploy advanced EDR solutions across all organizational endpoints to detect and respond to sophisticated malware infections.
• Implement Multi-Factor Authentication (MFA): Mandate strong MFA for all customer and internal access to financial systems.
• Conduct Regular Security Audits and Penetration Testing: Proactively identify and remediate vulnerabilities in banking applications and infrastructure.
• Educate Employees and Customers: Provide ongoing training to employees on phishing, social engineering, and safe digital practices. Educate customers about common warning signs of banking malware and secure online habits.
• Leverage Behavioral Analytics: Implement systems that monitor user behavior and transaction patterns to identify anomalous activities indicative of fraud.

Tools for Detection and Mitigation

Effective defense against sophisticated banking malwares like Maverick and Coyote requires a combination of robust tools and vigilant practices. Here are some categories of tools that can assist:

Tool Category	Purpose	Examples (Illustrative)
Endpoint Detection and Response (EDR)	Real-time monitoring, detection, and automated response to sophisticated threats on endpoints.	CrowdStrike Falcon, SentinelOne, Microsoft Defender for Endpoint
Threat Intelligence Platforms (TIPs)	Aggregates and analyzes threat data, providing context and actionable intelligence on malware families and TTPs.	Recorded Future, Anomali ThreatStream, Mandiant Advantage
Network Intrusion Detection/Prevention Systems (NIDS/NIPS)	Monitors network traffic for malicious activity and can block known malware communication.	Snort, Suricata, Palo Alto Networks Firewall
Secure Web Gateways (SWG)	Filters malicious web content, blocks access to known command-and-control (C2) servers, and prevents malware downloads.	Zscaler Internet Access, Symantec Web Security Service
Security Information and Event Management (SIEM)	Collects, aggregates, and analyzes security logs from various sources to detect security incidents and compliance issues.	Splunk, IBM QRadar, Elastic SIEM

Conclusion: Strengthening Defenses Against Evolving Threats

The identification of strong links between Maverick and Coyote banking malwares by CyberProof researchers underscores a critical aspect of modern cybersecurity: threat actors rarely invent wholly new attack vectors. Instead, they often refine, rebrand, and adapt successful methodologies. For security professionals and individuals alike, this revelation serves as a potent reminder to focus on foundational security practices, continuously update defenses, and remain vigilant against social engineering tactics. By understanding the lineage and shared characteristics of these threats, the community can develop more informed and resilient strategies to protect financial assets against these persistent and sophisticated adversar