Malware targeting broadband devices like ADSL modems, routers and wireless access points is very frequent in recent days. In this paper, the authors provide a formal description of modem malware life cycle. Furthermore, they propose a set of techniques to perform detailed analysis of infected modem and they provide the binary samples of modem malware at their web repository. Description of the modem malware evolution is also included. Based on their experiences with analyzing and monitoring modem malware, they report on long-term statistics of modem malware activities in campus network including a discovery of new botnet.