Peep is a remote access trojan, similar to Netbus and Back Orifice. It consists of client and server parts. Server is installed on target machine and is invisible. Server part is used by the attacked and consists of graphical front end through which to contol the target machine.
Based on the settings of your F-Secure security product, it will either automatically delete, quarantine or rename the detected program or file, or ask you for a desired action.
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The client is in Chinese language.
F-Secure Antivirus has detected this trojan since 2001.