An article from Bruce Schneier in Wired.com about StormWorm:
Although it's most commonly called a worm, Storm is really more: a worm, a Trojan horse and a bot all rolled into one. It's also the most successful example we have of a new breed of worm, and I've seen estimates that between 1 million and 50 million computers have been infected worldwide.
Not that we really have any idea how to mess with Storm. Storm has been around for almost a year, and the antivirus companies are pretty much powerless to do anything about it. Inoculating infected machines individually is simply not going to work, and I can't imagine forcing ISPs to quarantine infected hosts. A quarantine wouldn't work in any case: Storm's creators could easily design another worm -- and we know that users can't keep themselves from clicking on enticing attachments and links.
Unfortunately we have no idea who controls Storm, although there's some speculation that they're Russian. The programmers are obviously very skilled, and they're continuing to work on their creation.
Oddly enough, Storm isn't doing much, so far, except gathering strength. Aside from continuing to infect other Windows machines and attacking particular sites that are attacking it, Storm has only been implicated in some pump-and-dump stock scams. There are rumors that Storm is leased out to other criminal groups. Other than that, nothing.
Personally, I'm worried about what Storm's creators are planning for Phase II.
Bonus: Storm Worm Descends on Blogspot (Darknet.co.uk)
Bonus: A Multi-perspective Analysis of the Storm (Peacomm) Worm (Cyber TA)