If you are a developer using DNGuard HVM to protect your software, do not assume it is unbreakable. No protector is. Use it as one layer in a defense-in-depth strategy (license servers, obfuscation, anti-tamper).
Researchers use these to see the underlying code of malicious .NET binaries protected by DNGuard. Dnguard Hvm Unpacker
Most successful unpacking attempts fall into two categories: 1. Dynamic Tracing and Memory Dumping If you are a developer using DNGuard HVM
Advanced unpackers use kernel-mode drivers or hypervisor-based debuggers (like TitanHide or HyperDbg) to remain undetected. Dnguard Hvm Unpacker
How a Dnguard HVM unpacker typically works (stepwise)
When the protected application runs: