VERY IMPORTANT

This analysis delves into the HijackLoader malware campaign, which has gained prominence since 2023 for its sophisticated payload delivery and evasion techniques. The campaign initiates with a CAPTCHA-based phishing attack, progressing through multiple stages of obfuscated PowerShell scripts. It employs advanced anti-analysis methods, including anti-VM checks and registry manipulation. The final payload, typically an infostealer like NekoStealer or Lumma, is delivered via a multi-stage process involving packed .NET executables and protected DLLs. The loader's evolution and its role in the broader malware-as-a-service ecosystem underscore the need for organizations to focus on detecting initial access and intermediate stages rather than just final payloads.