Via C|Net:
Critical IE 7 exploit making the rounds
Microsoft issued a critical security warning Tuesday that a malicious exploit is making the rounds and attacking vulnerabilities in Internet Explorer 7. [...]
You almost have to wonder why they even bother making the announcement. Has there ever been a period longer than about a week when there was NOT some unpatched system-pwning Internet Explorer exploit in the wild?
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(Besides, none of the hemorrhagic fevers has ever spread far yet, because they kill their hosts before they actually get a chance to infect many new ones. The worst hemorrhagic fever outbreak on record, the Marburg outbreak of 2005 in Uige Province, Angola, killed 244 people; by comparison, the 1918 Spanish 'flu pandemic killed between 20 and 40 million people in a single year, more than the Black Death killed in four.)
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Christmas has always historically been the Big Infection Vector, with lots of people getting new computers. We've got a bit of a "perfect storm" effect, combining Christmas, large pre-existing botnets, and aggressively deployed injection attacks on major Internet sites. Further, it happens right after Patch Tuesday, which gives the maximum possible time for infection.
So it's not the exploit itself that could cause problems, it's the timing and the aggressiveness of the attack.
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It installed every malware product you could imagine: the installer looked perfectly legitimate, the website was stunningly well designed, and the only sign that something was wrong was when the maching started metaphorically spewing blood out of all its orifices.
Had the malware been less aggressive, we probably wouldn't even have noticed for a week or so, but it made the machine so unusable that we had to reformat and reinstall the same day.
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