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In August2010, we obtained access to 13 Command & Control(C&C) servers and 3 development servers (16 servers intotal) used by botnet operators of the Cutwail spam engine.This software has been used by some of the mostprolific spammers over the last few years, and is frequentlyinstalled by a separate Trojan component knownas Pushdo. Cutwail utilizes an encrypted communicationprotocol and an automated template-based spammingsystem to dynamically generate unique emails with thegoal of evading existing spam filters. Interestingly, eachCutwail bot maintains highly detailed statistics about itsown spam activities, which are reported back to the C&Cserver. The data we obtained from these C&C serversprovides us with a novel, deeper insight into the modusoperandi of cyber criminals and the dynamics behindsome of the most sophisticated spam operations to-date.