Nart Villeneuve, who has written some excellent security reports in the past, takes us on a tour of Koobface, the botnet that continues to invade various social network in this report.

The author has managed to dissect the twisted pieces of this network to show that in the past year the villains have made off with more than $2 million using pay-per-click schemes that entice marks to download their exploit and click on phony security software ads. It is well worth the read to see how this botnet has been built, and how it continues to elude authorities and frustrate users.