Dissecting Blackguard Info Stealer

Sophisticated Variant Spotted in the wild

There has been a marked increase in Threat Actors (TAs) using Info Stealers to carry out their attacks, and Cyble Research Labs has actively been tracking such threats. Info Stealers are a serious security threat. The LAPSUS$ data extortion group, which was behind one of the most significant data breaches in recent history, is also suspected of using Info Stealers to gain initial access to the organization’s network.

Recently Cyble Research Labs discovered a sample belonging to “Blackguard Stealer. “This stealer surfaced in the cybercrime forums in April 2021. We came across multiple variants for this stealer in the wild, which highlights that it might be in use by a large number of TAs.

Figure 1: Post on a cybercrime forum

The stealer is written in C# and is obfuscated using Obfuscar tool which is an open-source .NET obfuscation tool. The recent stealer sample has used the sleep() function multiple times to avoid sandbox detection. It uses anti-debugging techniques, which prevent anyone from debugging the sample. It also uses an anti-forensic time stomping technique that changes the actual file timestamp to avoid being identified during forensic activities.

Figure 2: File details of a recent variant

This stealer operates on the Malware-as-a-Service (MaaS) model, in which TAs lease out their software to carry out malicious activities. The Blackguard stealer is also available on a monthly and lifetime-based subscription model. The TA has claimed on cybercrime forums that they can add clipper malware (A type of malware that modifies the crypto addresses in the clipboard to the one specified by TA) functionality to the Blackguard stealer on demand. This indicates that the stealer can be customized for financial theft.

Figure 3: Blackguard Stealer web panel from Cyber-Crime Forum

The TA stated that the stealer has functionalities to exfiltrate the data shown in the figure below.

Figure 4: Stealer functionalities

Technical Analysis

The sample (SHA 256: 67843d45ba538eca29c63c3259d697f7e2ba84a3da941295b9207cdb01c85b71) upon execution initially checks for the presence of a debugger and terminates its execution if a debugger is identified. The figure below shows the anti-debug function in the malware.

Figure 5: Anti-debug check

The malware uses the Sleep() function several times as an anti-sandbox technique during its execution. Thread.Sleep() method causes the current thread to stop the execution for the specified time in milliseconds. The figure below shows the Sleep() function used during the initial execution.

Figure 6: Sleep() function

After performing the Anti-debug checks, it calls the Start() method, which will call other methods, as seen in Figure 7. These methods will initiate the data stealing activity from the victim’s system. The malware creates a directory in “c:\users\[username]\Documents” for storing the stolen data from the victim’s machines.

The directory name is generated using the format: Random String + Computer Name + . + Username

Figure 7: Start Method

The TA has encoded a few strings using base64 and gzip compression, so every time, an encoded string is passed as a parameter, the decrypt.Get() function is called to get the decoded strings. Figure 8 shows the Decrypt.get() function.

Figure 8: Decrypt.Get() Function

This stealer primarily targets browsers such as Chrome, Edge, and Firefox. The malware reads the files key3.db, key4.db, logins.json, and cert9.db to steal browser data such as passwords, credit cards, history, and auto-filled data. The malware creates a folder named “Browsers,” where it will save the data in separate .txt files.

Figure 9: Stealing browser data

Using the GetDomainDetect() method, the malware enumerates all the .txt files in the “Browser” folder created in the previous step, reads them, and then checks if the following domains are present which include popular crypto exchanges and major bank websites. If the malware finds these targeted domains, it stores any credentials related to them.

Figure 10: Domain Detection

The malware copies the victim’s data from the USERPROFILE directory and saves it in a folder named “Files.” The USERPROFILE directory contains data specific to multiple users in a system.

Figure 11: Stealing files

This stealer has the capability to steal data from cold crypto wallets. A cold wallet stores the data offline and is thus more secure. The wallets targeted by the stealer can be seen in Figure 12.

Figure 12: Targeted cold crypto wallets

After this, the malware identifies the user’s geolocation by sending a request to hxxps[:]//freegeoip[.]app/xml/. The malware receives the response and then saves it to a file named “Information.txt.”

Additionally, it saves the system information, as shown in Figure 13.

Figure 13: Information.txt

It then takes the screenshot of the victim’s system and saves it as “Screen.png” in the directory initially created by the malware.

Figure 14: Screenshot of the system

The malware steals credentials from VPNs such as ProtonVPN, OpenVPN, and NordVPN. The malware first checks whether a VPN is installed or not by checking the directory “C:\Users\[username]\AppData\Local\[VPN name]. “

If it finds a targeted VPN service, it steals the credentials from the configuration files, such as user.config, etc., and copies the configuration file to the folder used for saving stolen data.

Figure 15: Stealing VPNs credentials for Nord VPN

The malware steals data from Steam, a video game digital distribution service. The stealer identifies the Steam installation path by checking the registry key value at “HKEY_LOCAL_MACHINE\Software\Valve\Steam.”

If Steam is installed on the machine, the malware steals Steam’s data from loginusers.vdf config file present in the victim’s machine. The malware creates a folder named “Steam” and copies the .vdf file into it for its exfiltration purposes.

Figure 16: Stealing Steam data from victim’s device

After this, the malware checks for Discord tokens. It first searches for the following directories:

  • Discord\\Local Storage\\leveldb
  • discordptb\\Local Storage\\leveldb
  • Discord Canary\\leveldb

If it can locate these directories, it checks for files ending with .ldb or .log and extracts Discord tokens from them using regular expression. Then it creates a folder named “Discord” and will write the stolen tokens to “Tokens.txt.”

Figure 17: Stealing Discord tokens

Blackguard stealer can also steal data from FileZilla. It checks if FileZilla\recentservers.xml file is present in the ApplicationData folder and then extracts Host, Port, User, and Password from the “recentserver.xml.” This data is then written to “FileZilla\FileZilla.log“.

Figure 18: Stealing FileZilla data

After this, the malware checks for the “Telegram Desktop\tdata” file in the ApplicationData folder. If this is present on the victim’s system, it creates a folder named “Telegram” which will be used to save files stolen from the “Telegram Desktop\tdata” location.

Figure 19: Stealing Telegram session

The TA in this sample is using Telegram for exfiltrating the data. We found the following Telegram API used by the malware during our analysis for exfiltrating data.

URL: hxxps[:]//

The malware compresses the stolen data before exfiltration. Figure 20 shows the folders created by the malware.

Figure 20: Directories Created


We have observed and analyzed multiple samples of this Info stealer in the wild. It appears that this particular TA is trying to make the stealer even more evasive with every update, as the anti-analysis and obfuscation levels are quite different between the oldest and most recent samples. Info Stealers are emerging as a major concern as they are assisting TAs to gain initial access to corporate networks. It is thus, increasingly necessary to follow basic cyber-hygiene and security practices as listed below.

Our Recommendations: 

  • Avoid downloading pirated software from warez/torrent websites. The “Hack Tool” present on sites such as YouTube, torrent sites, etc., mainly contains such malware. 
  • Use strong passwords and enforce multi-factor authentication wherever possible.  
  • Turn on the automatic software update feature on your computer, mobile, and other connected devices. 
  • Use a reputed anti-virus and internet security software package on your connected devices, including PC, laptop, and mobile. 
  • Refrain from opening untrusted links and email attachments without first verifying their authenticity.  
  • Educate employees in terms of protecting themselves from threats like phishing’s/untrusted URLs. 
  • Block URLs that could be used to spread the malware, e.g., Torrent/Warez. 
  • Monitor the beacon on the network level to block data exfiltration by malware or TAs. 
  • Enable Data Loss Prevention (DLP) Solution on the employees’ systems. 

MITRE ATT&CK® Techniques  

Tactic Technique ID Technique Name 
Execution  T1204 User Execution 
Defense Evasion T1497.001 
Virtualization/Sandbox Evasion: System Checks 
Obfuscated Files or Information
Credential Access T1555 
Credentials from Password Stores 
Steal Web Session Cookie 
Unsecured Credentials 
Steal Application Access Token 
Collection T1113 Screen Capture 
Discovery T1087 
Account Discovery 
Software Discovery
Process Discovery
System Time Discovery
System Service Discovery
System Location Discovery   
Command and Control T1095 Non-Application Layer Protocol 
Exfiltration T1041 Exfiltration Over C2 Channel  

Indicators of Compromise (IoCs):   

Indicators Indicator type Description 
ef8385f6ccc6dc6aa6fa9833e13c1cf3 2fe6c0b8cef78d409d29fbd0d1260f39874b068e 5b8d0e358948f885ad1e6fa854f637c1e30036bc217f2c7f2579a8782d472cdaMd5   SHA-1  SHA-256 Stealer Payload 
d4e02002916f18576204a3f1722a958b 33ec434ad2c31de93e758b9d53fcf211c5b13702 9fff9895c476bee0cba9d3e209e841873f1756d18c40afa1b364bd2d8446997cMd5   SHA-1  SHA-256 Stealer Payload 
eb6c563af372d1af92ac2b60438d076d 9895725811ae5fda88629781daaa439c95a4976e 67843d45ba538eca29c63c3259d697f7e2ba84a3da941295b9207cdb01c85b71Md5   SHA-1  SHA-256 Stealer Payload 
a6651dc499e0b9141a6fa0f411f885ea a421e5753596d4c07ee8df06c2080c03507f7a37 5ce632f1f10c96a7524bf384015c25681ef4771f09a6b86883a4da309d85452aMd5   SHA-1  SHA-256 Stealer Payload 

Scroll to Top