Binary part
When the worm is executed it copies itself to the Windows System Directory as 'explorer.exe'. This copy is linked into the registry to 'HKLM\SOFTWARE\Microsoft\Windows\CurrentVersion\Run\Explorer' so it will be started when Windows starts up.
The worm has an IRC engine inside and uses it to connect to a public IRC server. It joins random channels and sends private messages to users who join the channel. It offers a web link that points to the infected machine.
The page on the URL says that the user has to download a plugin to view the content.
The page has a REFRESH tag so in one second it offers the worm file for download.
When the user chooses to run the file it starts and infects the system.
Script part
The spreading routine is in a Visual Basic file email.vbs that the worm drops once the attached file is executed. When the Outlook Application is closed by the worm, the script file is deleted.
The email messages that the worm sends look as follows:
From: infected-user-name
Subject: .
Body: .
Attachment: psecure20x-cgi-install.version6.01.bin.hx.com