Decoding the 9-stage malware toolkit targeting Vietnamese organizations.

VNPT's cybersecurity experts have analyzed and reverse-engineered a nine-stage malware toolkit targeting organizations in Vietnam. The research results, including findings on how the malware maintains its activity and conceals its tracks, were recently presented at the Virus Bulletin Conference 2026 in Spain.

Decoding the workings of 9-stage malware.

The research, titled “Reverse engineering a multi-stage implant targeted Vietnamese organizations,” was presented by Mr. Luong Minh Anh, Head of the Malware Research and Analysis Team at VNPT Cyber ​​Immunity - VCI (Information Security Center of VNPT), at the Virus Bulletin Conference 2026 in Seville, Spain . The VCI team analyzed a multi-stage malware toolkit used to target organizations in Vietnam.

Through analysis and reverse engineering, the research team clarified the structure and operation of the nine-stage toolkit. According to the team, the malware uses multiple mechanisms to maintain operation, conceal its tracks, and limit its detectability. These characteristics make fully understanding how the malware operates a crucial part of the attack detection process.

Based on the analysis results, the research team further developed tools to support malware research and rules for detecting attack signs. Thus, the work not only describes how an attack toolkit operates but also creates a technical basis for threat hunting, supporting the detection and response to targeted attacks.

From malware research to defense capabilities

The Virus Bulletin Conference is an international forum on malware research and cybersecurity threats, where experts exchange new findings on attack and defense techniques. The presentation of a study on malware targeting Vietnam at this conference has contributed to bringing domestic cybersecurity issues into broader professional discussion.

This is not the first time VCI experts have brought their research results to an international forum. At AVAR 2025 in Malaysia , the team presented research on a cyber espionage operation in Vietnam. VCI members also achieved success at Flare-On and the International Cybersecurity Championship 2025.

But for an information security organization, the ultimate measure isn't just the number of conference appearances. More importantly, it's whether the knowledge gained from threat analysis translates into practical monitoring, detection, and response methods. VCI's development of detection tools and rules from this research demonstrates that connection.

VCI is committed to developing a unified "digital immune system" model, connecting threat research with cybersecurity monitoring, detection, and response activities. Positioned as a "Comprehensive Security Strategy Consulting and Implementation Partner," VCI aims to support agencies and businesses in proactively identifying risks and protecting their digital assets.

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