Silver Fox Targets Indian Users With Tax-Themed Emails Delivering ValleyRAT Malware
Dec 30, 2026
Phishing / Malware
The threat actor known as Silver Fox has turned its focus to India, using income tax-themed lures in phishing campaigns to distribute a modular remote access trojan called ValleyRAT (aka Winos 4.0). "This sophisticated attack leverages a complex kill chain involving DLL hijacking and the modular Valley RAT to ensure persistence," CloudSEK researchers Prajwal Awasthi and Koushik Pal said in an analysis published last week. Also tracked as SwimSnake, The Great Thief of Valley (or Valley Thief), UTG-Q-1000, and Void Arachne, Silver Fox is the name assigned to an aggressive cybercrime group from China that has been active since 2022. It has a track record of orchestrating a variety of campaigns whose motives range from espionage and intelligence collection to financial gain, cryptocurrency mining, and operational disruption, making it one of the few hacking crews with a multi-pronged approach to their intrusion activity. Primarily focused on Chinese-speaking individuals...