Introduction: The Infamous NSO Group

NSO Group, an Israeli cybersecurity firm, is best known for its notorious spyware, Pegasus. Marketed as a tool for "fighting terrorism" and aiding law enforcement investigations, Pegasus has instead been widely used by authoritarian regimes and governments to spy on journalists, dissidents, activists, and political opponents.

How Pegasus Spyware Works

Pegasus is a zero-click spyware, meaning it can infect a target’s phone without the victim clicking a malicious link or downloading anything. Some of the attack vectors used by Pegasus include:

Zero-click iMessage Exploits (Apple Devices)

WhatsApp Video Call Exploit (2019)

Baseband Exploits & Silent SMS Attacks

Zero-Day Vulnerabilities in Browsers & OS Kernels

The Surveillance-for-Profit Industry

NSO Group is only one of many companies profiting from the surveillance economy. Other notable players include:

These firms do not participate in bug bounty programs. Instead, they hoard zero-day vulnerabilities and sell them to the highest bidders—often government entities that use them for covert surveillance.

What Can Be Done?

Apple & Google Hardening Security

Baseband Security: A Major Blind Spot

Protecting Journalists & Activists

Has Pegasus Been Reverse-Engineered?

Security researchers have analyzed traces of Pegasus infections, but the full source code of the spyware has not been made public.

Key Research Efforts

Why Hasn't It Been Fully Reverse-Engineered?

NSO Group employs several strategies to prevent forensic analysis:

Legal and Governmental Barriers

What Parts of Pegasus Have Been Analyzed?

Although a full breakdown has not been made public, researchers have documented key attack techniques:

Are Hackers Trying to Reverse It?

Yes, but several challenges make it difficult for independent researchers:

Conclusion

Pegasus has been partially reverse-engineered, but a full technical breakdown remains elusive due to its self-destruct mechanisms, legal risks, and sophisticated obfuscation techniques.

NSO Group and similar companies continue to exploit low-level attack surfaces—including baseband firmware, DIAG debugging interfaces, silent SMS vulnerabilities, and OS-level zero-days—to enable their spyware.

Rather than participating in ethical bug bounties to improve global security, these firms sell exploits to surveillance states, allowing them to track, intimidate, and suppress political opposition.