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CyberShelter Threat Brief: PAY2KEY Ransomware Returns with Advanced Anti-Forensic Capabilities and Rapid Enterprise Encryption

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CyberShelter Threat Brief: PAY2KEY Ransomware Returns with Advanced Anti-Forensic Capabilities and Rapid Enterprise Encryption

A state-linked ransomware campaign combines espionage tactics with high-speed encryption, targeting critical infrastructure and healthcare

CyberShelter Threat Intelligence has identified renewed activity from the PAY2KEY ransomware group, a threat actor linked to Iranian state interests.

This campaign demonstrates a dangerous evolution—blending cyber espionage techniques with ransomware execution, enabling attackers to remain undetected, harvest credentials, and launch rapid encryption within hours.

Key concerns include:

  • Encryption completed in approximately 3 hours
  • Advanced anti-forensic techniques to erase evidence
  • Abuse of legitimate administrative tools
  • Targeting of healthcare and critical infrastructure sectors

CyberShelter classifies this threat as CRITICAL, requiring immediate defensive action.

Threat Overview

  • Threat Name: PAY2KEY Ransomware
  • Type: Ransomware / Cyber Espionage
  • Attribution: Iranian state-linked actor
  • Primary Targets: Healthcare, critical infrastructure
  • Encryption Speed: ~3 hours
  • MITRE Impact: Data Encrypted for Impact (T1486)

Campaign Intelligence

This campaign reflects a high level of operational maturity.

Attackers:

  • Maintain dormant access before execution
  • Harvest credentials before launching ransomware
  • Use stealth techniques to avoid early detection
  • Execute rapid encryption to bypass response timelines
  • Destroy forensic evidence after attack completion

Threat Characteristics

  • Sophistication: High
  • Speed: Extreme
  • Stealth: High
  • Anti-Forensics: Advanced
  • Business Impact: Critical

Attack Kill Chain

Initial Access

Attackers gain entry through:

  • Compromised administrative accounts
  • Initial access brokers
  • Exposed remote services
  • Weak privileged access controls

Persistence (Living-off-the-Land)

Instead of deploying obvious malware, attackers abuse legitimate tools like:

  • TeamViewer (already present in the environment)

This reduces detection and blends activity with normal operations.

Credential Access

Tools observed:

  • Mimikatz
  • LaZagne
  • ExtPassword

Objective:

  • Extract credentials
  • Prepare for privilege escalation and lateral movement

Discovery

Attackers map the environment using:

  • Advanced IP Scanner
  • NetScan
  • Active Directory tools

They specifically identify high-value systems before encryption.

Execution Phase

  • PowerShell-based execution
  • Backup discovery and targeting
  • Hypervisor and virtual infrastructure analysis
  • File indexing prior to encryption

Encryption Phase

  • Algorithm: ChaCha20
  • Key Exchange: Curve25519
  • Model: Hybrid fast encryption
  • File Extension:.6zldh_p2k
  • Active Encryption Time: ~1 hour

Anti-Forensic Capabilities

PAY2KEY demonstrates advanced evidence destruction techniques, making post-incident analysis extremely difficult.

Observed Techniques

  • Windows event log wiping
  • Backup deletion
  • Microsoft Defender disablement
  • Recovery environment disabling
  • Artifact cleanup
  • BitLocker suspension

Key Commands Used

  • wevtutil.exe cl security/system/application
  • wbadmin.exe DELETE SYSTEMSTATEBACKUP
  • bcdedit.exe /set recoveryenabled no
  • powercfg.exe -H off

Attackers typically wipe logs as a final step, eliminating traces of activity.

Indicators of Compromise (IOC Highlights)

Behavioral Indicators

  • TeamViewer spawning command shells or PowerShell
  • Unexpected execution of wbadmin.exe, bcdedit.exe, or wevtutil.exe
  • BitLocker suspension or backup deletion activity
  • Hyper-V shutdown or virtual disk manipulation

File Indicators

  • Files with extension: .6zldh_p2k
  • Suspicious executables like browser.exe or abc.exe in user directories

Tooling Indicators

  • Credential dumping tools (Mimikatz, LaZagne)
  • Network scanning tools (NetScan, Advanced IP Scanner)

Detection & Hunting Opportunities

Security teams should prioritize:

  • Monitoring parent-child process anomalies
    • TeamViewer → cmd.exe / PowerShell
  • Detecting log clearing activities post file modifications
  • Alerting on backup deletion and recovery tampering
  • Tracking abnormal administrative tool usage

CyberShelter Recommendations

Immediate Actions (0–24 Hours)

  • Audit and restrict TeamViewer and remote access tools
  • Hunt for IOCs across endpoints and SIEM
  • Monitor privileged account activity
  • Validate backup integrity and availability

Short-Term Actions

  • Enable Credential Guard
  • Restrict LSASS access
  • Deploy behavioral EDR detection rules
  • Test recovery and restoration processes

Strategic Improvements

  • Implement Privileged Access Management (PAM)
  • Enforce Just-In-Time (JIT) access controls
  • Strengthen network segmentation
  • Enforce MFA across all critical systems
  • Develop and test incident response playbooks

Strategic Insight

PAY2KEY represents a new class of ransomware:

Fast, stealthy, and strategically aligned with geopolitical objectives.

This is no longer just about encryption—it is about:

  • Intelligence gathering before attack
  • Maximum operational disruption
  • Minimal forensic visibility

Organizations must shift from reactive defense to proactive threat hunting and resilience planning.

Because in today’s threat landscape,
speed and stealth define the success of ransomware attacks.

Ashif