Enigma heavily relies on Structured Exception Handling (SEH) to confuse debuggers. In x64dbg, pass all exceptions to the program (Options -> Exception Actions) so the protection layer handles its own traps without debugger interference.
IDA Pro or Ghidra for static analysis. Configuration Install ScyllaHide into your x64dbg plugins directory. how to unpack enigma protector better
Elias needed to rebuild the IAT.
This is essentially writing a custom emulator for that specific VM instance. For most practical purposes, leaving the VM section virtualized is acceptable since the program still runs correctly. Enigma heavily relies on Structured Exception Handling (SEH)