A recent malware campaign uses SEO poisoning on Bing to distribute a trojanized Ivanti Pulse Secure VPN client via lookalike domains. Users are tricked into downloading a malicious MSI installer that steals VPN credentials from the connectionstore.dat file. Stolen credentials are exfiltrated to a command and control server hosted on Azure infrastructure. The attack employs signed executables and referrer-based conditional content delivery to evade detection. This credential theft technique has been linked to subsequent Akira ransomware deployments. Organizations are advised to implement multi-factor authentication, conduct user awareness training, and monitor for suspicious network and endpoint activity. No CVE or known exploits in the wild are reported yet. The threat poses a medium severity risk due to credential compromise and potential ransomware follow-on attacks. European organizations using Ivanti Pulse Secure VPN are at risk, especially in countries with high adoption of this VPN solution and critical infrastructure sectors.