I came across a reference to it recently on proggit and (as of now) it is not explained.
I suspect this might be it, but I don\'t know for sure.
If you set LD_PRELOAD to the path of a shared object, that file will be loaded before any other library (including the C runtime, libc.so). So to run ls with your special malloc() implementation, do this:
LD_PRELOAD
libc.so
ls
malloc()
$ LD_PRELOAD=/path/to/my/malloc.so /bin/ls