The document describes a new technique for sandbox evasion using VBA referencing. It demonstrates how a malicious document can detect if it is running in a sandbox by checking the order that external content and VBA code are loaded. If the VBA code loads before the external content, it indicates the sandbox has disabled protected view and the document is running in a sandbox. The attacker can then serve benign code to the sandbox and malicious code to end users. This allows the attack to evade detection by sandboxes while still targeting users.