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As of November 15th, 2021, multiple sources   have observed activity associated with the Emotet malware. This activity includes malware delivery through email and existing infections.
Successful Emotet payload execution has not been observed across customers at this time. The Threat Intelligence team assesses with medium confidence current campaigns are focused on re-establishing botnet infrastructure following law enforcement's action to take down the botnet in January 2021. Email delivery techniques and payload execution remain consistent or similar to past Emotet infections. The eSentire Threat Intelligence team assesses, with medium confidence, Emotet’s email campaigns will continue.
Emotet is an information stealer malware that is also used for initial access by multiple threats such as Qakbot and Trickbot. Emotet has been previously observed leading to Ryuk, Conti, ProLock, and Egregor ransomware threats.
As of this writing, follow-on malware has not been observed in these latest campaigns. Emotet activity halted in early 2021, after law-enforcement acted against the Emotet threat and seized malicious infrastructure. Recent activity is believed to be focused on re-establishing botnet hosts.
Emotet Email Content
Malicious Office Documents
Figure 1: Malicious Word Document
Figure 2: Malicious Excel Document
A detailed breakdown of current infection scheme can be found here: https://isc.sans.edu/forums/diary/Emotet+Returns/28044/