There's a new trojan afoot, which reportedly spreads in a manner similar to the well-known Melissa virus.
Reports indicate it is spreading at a rapid rate.
Like the well-known Happy99 worm, the email recipient must run the profferred executable file to install the unwanted program. Cautious persons who don't run unknown executables are not at risk, but such people don't seem to be in the majority. Unlike Happy99, this worm reveals the victim's passwords on a number of IRC channels and some reports indicate it is also a trojan, allowing backdoor access to the victim's system. I have not run this trojan myself, but a Canadian victim has sent me a copy and reported on some of its behavior. I've sought out further information and present it here.