Malware Insights
This Excel macro-enabled document (XLSM) utilizes Excel 4.0 macros, which are known for their ability to bypass security features and directly call Win32 APIs. The heuristic firings indicate the use of dangerous XLM formula APIs like RETURN, and the presence of a VBA project suggests a multi-stage approach. The VBA script contains a call to URLDownloadToFileA, which is used to download and execute a second-stage payload from a remote location. The document body contains heavily obfuscated text that does not provide clear user-facing content, further suggesting a malicious intent.
Heuristics 6
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URLDownloadToFile in VBA critical OLE_VBA_DOWNLOADURLDownloadToFile in VBA
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Excel 4.0 macro sheet (1 sheet(s)) critical OOXML_XLM_MACROSHEETSpreadsheet contains an Excel 4.0 (XLM) macro sheet — XLM was a major Office malware vector during 2020-2022 and evaded many VBA-focused controls before Microsoft tightened XLM defaults. Even legitimate XLM use is rare in modern workbooks.
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Dangerous XLM formula APIs: RETURN critical OOXML_XLM_DANGEROUS_FNExcel 4.0 macro sheet uses formula APIs that call directly into Win32 (=CALL/=EXEC/=REGISTER/=FORMULA). These are the primitives used to download payloads, write files, and start processes from an XLM macro without invoking VBA.
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VBA project inside OOXML medium OOXML_VBADocument contains vbaProject.bin — VBA macros present
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Hidden worksheet (hidden) low OOXML_HIDDEN_SHEETExcel workbook contains 1 hidden sheet(s) — hidden sheets are commonly used to conceal macro code, staging data, or intermediate payload construction
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Embedded URL info EMBEDDED_URLOne or more URLs were extracted from the document. The URL itself is not a detection — see the per-URL labels for which channel (macro, JS, link annotation, document body, ...) reached each URL.URL http://schemas.openxmlformats.org/spreadsheetml/2006/main
- http://schemas.microsoft.com/office/excel/2006/main
- http://schemas.openxmlformats.org/officeDocument/2006/relationships
- http://schemas.openxmlformats.org/markup-compatibility/2006
- http://schemas.microsoft.com/office/spreadsheetml/2009/9/ac
Extracted artifacts 3
Files carved from inside the sample during analysis.
| Filename | Kind | Source | Size |
|---|---|---|---|
macros.basbcc8c92fa0ea61ae34bd5ebab055d747b47678b77a3e38cfc90e4eda43588bb7 |
vba-macro | oletools.olevba.extract_macros (decoded VBA source from OOXML) | 3050 bytes |
vbaProject_00.bind9af2f44bbba69821d13c891f08b2573ae22256fbe7f9aa4390bc6f3ad4443d1 |
vba-project | OOXML VBA project: xl/vbaProject.bin | 25088 bytes |
xlm_sheet_00.xml1e633e5755f964e146eb49f60f198990f17dc64877cf12597e720e6877ce422e |
xlm-macrosheet | OOXML XLM macro sheet: xl/macrosheets/sheet1.xml | 919 bytes |
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