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Cybersecurity researchers took the wraps off an ongoing surveillance campaign directed against Colombian government institutions and private companies in the energy and metallurgical industries.

In a report published by ESET on Tuesday, the Slovak internet security company said the attacks dubbed "Operation Spalax" began in 2020, with the modus operandi sharing some similarities to an APT group targeting the country since at least April 2018, but also different in other ways.

The overlaps come in the form of phishing emails, which have similar topics and pretend to come from some of the same entities that were used in a February 2019 operation disclosed by QiAnXin researchers, and subdomain names used for command-and-control (C2) servers.

However, the two campaigns diverge in the attachments used for phishing emails, the remote access trojans (RATs) deployed, and the C2 infrastructure employed to fetch the malware dropped.

The attack chain begins with the targets receiving phishing emails that lead to the download of malicious files, which are RAR archives hosted on OneDrive or MediaFire containing various droppers responsible for decrypting and running RATs such as Remcos, njRAT, and AsyncRAT on a victimized computer.

The phishing emails cover a wide range of topics, including those about driving infractions, attend court hearings, and take mandatory COVID-19 tests, thus increasing the likelihood that unsuspecting users will open the messages.

In an alternate scenario observed by ESET, the attackers were also found to use heavily obfuscated AutoIt droppers that used shellcode to decrypt the payload and another to inject it into an already running process.

The RATs not only come with capabilities for remote control but also to spy on targets by capturing keystrokes, recording screenshots, stealing clipboard data, exfiltrating sensitive documents, and even downloading and executing other malware.

ESET's analysis also revealed a scalable C2 architecture operated using a Dynamic DNS service that allowed them to dynamically assign a domain name to an IP address from a pool of 70 different domain names and 24 IP addresses in the second half of 2020 alone.

"Targeted malware attacks against Colombian entities have been scaled up since the campaigns that were described last year," the researchers concluded. "The landscape has changed from a campaign that had a handful of C2 servers and domain names to a campaign with very large and fast-changing infrastructure with hundreds of domain names used since 2019."

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Experts Uncover Malware Attacks Against Colombian Government and Companies - The Hacker News

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Fourth-quarter earnings season kicks off this week, starting as usual with several of the largest U.S. banks. JPMorgan Chase, Wells Fargo, and Citigroup will all report on Friday. Other results this week will come from IHS Markit on Wednesday and BlackRock, Delta Air Lines, and Taiwan Semiconductor Manufacturing on Thursday.

Economic data out this week includes a pair of inflation measures. On Wednesday, the Bureau of Labor Statistics reports the Consumer Price Index for December. Excluding volatile food and energy components, its expected to have risen 1.6% year-over-year. The core Producer Price Index for December, out Friday, is predicted to have increased 1.3% from last year.

On Friday, the Census Bureau reports retail-sales datafor Decemberthe all-important holiday shopping season. Retail sales excluding autos fell 0.9% in November, and theyre expected to have climbed 0.4% last month.

Other economic releases this week include the National Federation of Independent Business Small Business Optimism Index for December on Tuesday and the University of Michigans Consumer Sentiment Survey for January on Friday.

Zscaler, the cloud-based internet security platform whose shares were up more than 300% last year, hosts its 2021 analyst day.

Pioneer Natural Resources and Parsley Energy hold extraordinary shareholder meetings to vote on their proposed merger, first announced in October. Pioneer plans to acquire Parsley in an all-stock transaction valued at roughly $7 billion, based on Parsleys recent share price.

The National Federation of Independent Business releases its Small Business Optimism Index for December. Economists forecast a 100.5 reading, below Novembers 101.4.

The Bureau of Labor Statistics releases its Job Openings and Labor Turnover Survey for November. The number of job openings on the last business day of November is expected to be roughly the same as it was in October6.65 million.

IHS Markit reports quarterly results.

The BLS reports the consumer price index for December. Consensus estimate is for a 1.2% year-over-year increase, similar to the November figure. The core CPI, which excludes volatile food and energy prices, is seen jumping 1.6%, matching the rise in November.

The Treasury Department reports U.S. budget data for December. For fiscal 2020, which ended in September, the budget deficit hit a record high of $3.1 trillion, spurred on by massive Covid-19 relief spending.

BlackRock, Delta Air Lines, First Republic Bank, and Taiwan Semiconductor Manufacturing hold conference calls to discuss earnings.

Earnings season commences with three of the four largest U.S. banks reporting fourth-quarter 2020 results. JPMorgan Chase, Wells Fargo, and Citigroup will all announce earnings today.

PNC Financial Services Group reports quarterly results.

ConocoPhillips and Concho Resources hold special shareholder meetings to approve their proposed merger, first announced three months ago. ConocoPhillips has offered to acquire Conchos outstanding shares in an all-stock transaction valued at about $12 billion.

The University of Michigan releases its Consumer Sentiment Survey for January. Expectations are for an 81.4 reading, similar to Decembers.

The Census Bureau reports retail-sales data for December. Economists forecast a 0.1% month-over-month rise in consumer spending to $547 billion. Retail sales fell 1.1% in November. With autos excluded, retail sales are expected to be up 0.4%, after declining 0.9% in the previous month.

The BLS releases the producer price index for December. Consensus estimate is for a 0.1% month-over-month uptick, matching the November data.

Write to Nicholas Jasinski at nicholas.jasinski@barrons.com

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JPMorgan Chase, Wells Fargo, Delta, TSMC, and Other Stocks to Watch This Week - Barron's