Conficker Confused:

he Conficker worm mostly spreads across networks. If it finds a vulnerable computer, it turns off the automatic backup service, deletes previous restore points, disables many security services, blocks access to a number of security web sites and opens infected machines to receive additional programs from the malware’s creator. The worm then tries to spread itself to other computers on the same network.

How does the worm infect a computer?The Downadup worm tries to take advantage of a problem with Windows (a vulnerability) called MS08-067 to quietly install itself. Users who automatically receive updates from Microsoft are already protected from this. The worm also tries to spread by copying itself into shared folders on networks and by infecting USB devices such as memory sticks.

On April 1st the Conficker worm will simply start taking more steps to protect itself. After that date, machines infected with the “C” variant of the worm may not be able to get security updates or patches from Microsoft and from many other vendors. The creators of the worm will also start using a communications system that is more difficult for security researchers to interrupt.

The Conficker worm, sometimes called Downadup or Kido has managed to infect a large number of computers. Specifics are hard to come by, but some researchers estimate that millions of computers have been infected with this threat since January. Current users of Symantec’s Norton security products are protected. Users who lack protection are invited to download a trial version of Norton AntiVirus 2009,Norton Internet Security 2009 or Norton 360. All of these products will detect and remove this worm.

Symantec has a detailed technical analysis of the threat here.
http://www.symantec.com/norton/theme.jsp?themeid=conficker_worm&inid=us_ghp_link_conficker_worm