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Silver Dragon strikes: Cyberattacks on organizations across Southeast Asia and Europe

Mar 4, 2026 | Threat Intelligence Research

Emergence of Silver Dragon: APT Group Targeting Europe and Southeast Asia

TL;DR: Check Point Research has identified Silver Dragon, a sophisticated APT group closely linked to Chinese-nexus APT41, targeting high-profile organizations in Europe and Southeast Asia. Utilizing a combination of public-facing server exploits and phishing attacks, Silver Dragon employs various custom-built malware for persistence and command-and-control communication.

Main Analysis:
Silver Dragon has been active since mid-2024, primarily focusing on government organizations across Europe and Southeast Asia. The group employs a multi-faceted approach for initial access, including exploitation of public-facing servers and phishing campaigns with malicious attachments. Once access is gained, Silver Dragon deploys Cobalt Strike beacons for operational command-and-control communication. Notably, the group has introduced a new backdoor called GearDoor, which cleverly utilizes Google Drive for C2 purposes, facilitating stealthy communication.

Among the various tactics, Silver Dragon employs multiple infection chains, including AppDomain hijacking and Service DLL attacks. The AppDomain hijacking technique is characterized by malicious configuration scripts that redirect execution to their custom DLLs whenever legitimate Windows services are invoked. Tools like BamboLoader exemplify their method by executing commands via a registered Windows service and leveraging obfuscation techniques to evade detection. The group also utilizes a phishing approach targeting victims with weaponized LNK files, indicating adaptability in their attack methods.

Defensive Context:
Organizations, particularly government entities, in Europe and Southeast Asia should be vigilant about the tactics employed by Silver Dragon. The exploitation of public-facing servers and phishing attacks outlined in the analysis indicates a real risk for entities with exposed services or those that handle sensitive information. Those managing critical infrastructure should seriously consider their exposure to attacks utilizing sophisticated methodologies such as AppDomain hijacking, Service DLL attacks, and malware that relies on trusted environments for command-and-control activities.

Why This Matters:
The sophistication of Silver Dragon’s operations highlights a growing risk for high-profile sectors, particularly in government and sensitive industries. The innovative approach to leverage cloud services like Google Drive for malicious communication not only complicates detection but also signals a contiguous threat from state-sponsored actors. Entities within the targeted regions must be particularly aware of their digital vulnerabilities that could easily be exploited by such advanced persistent threat actors.

Defender Considerations:
Mitigation should focus on monitoring for suspicious activities related to public-facing services, particularly those vulnerable to exploitation. The deployment of custom malware such as BamboLoader necessitates a thorough review of service logs and execution paths that might indicate unauthorized changes. Network defenses must also adapt to recognizing the distinctive command-and-control characteristics of Silver Dragon’s deployment methods.

Indicators of Compromise (IOCs):

  • C2 Domains: zhydromet[.]com, onedriveconsole[.]com, copilot-cloud[.]net
  • Malware Signatures: GearDoor: 4f93be0c46a53701b1777ab8df874c837df3d8256e026f138d60fc2932e569a8; BamboLoader: e3b016f2fc865d0f53f635f740eb0203626517425ed9a2908058f96a3bcf470d; MonikerLoader: 5ad857df8976523cb3ad2fdf30e87c0e7daa64135716b139ffdcd209b98e1654
  • Malicious LNK Files: 51684a0e356513486489986f5832c948107ff687c8501d64846cdc4307429413

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