Our dynamic analysis showed Lokibot’s behavior, including the benefits and drawbacks of several unpacking methods. Lokibot also used an infected system machine global unique identifier (GUID) value to generate a mutex (an MD5 hash) that acted as a flag to prevent itself from infecting the same machine again. We conducted dynamic analysis to observe network and system behavior once it infected our Windows OS. We then conducted a static analysis to examine Lokibot’s techniques and targets. The response for this request is a customized 404 page, which can also be detected using Suricata signatures provided on the Malpedia page cited above as well. We also noticed that the value of the sub key is the path to the file that Lokibot created after its initial execution. There are no unusual sections, and the size and distribution of the sections, especially .text, mirrors a standard unpacked binary (Figure 6).File Metadata and StringsThe binary is a PEx86 binary, which can be run on both x86 and 64-bit Windows OS. This is a strong indication that the binary is a .NET library, because mscoree.dll and _CoreExeMain are primarily used to load .NET binaries. Figure 9Hollow Process; Manually Unpacking the First Stage BinaryWe tried to follow the binary with a debugger to determine where it unpacked itself in the memory, but Lokibot used a hollow process technique to obscure some of this activity. Because the malware was loaded into vbc.exe, the process viewer will show it as a legitimate process, making it more difficult for a user to identify