Apparently instead of getting a free WAP browser and browsing you actually get a premium SMS messaging client that autosends messages that cost $5-6 each. Apparently, to be fooled by the social engineering, though, you need to speak Russian.
The Trojan spreads in the guise of a program called "RedBrowser", which allegedly enables the user to visit WAP sites without using a WAP connection. According to the Trojan's author, this is made possible by sending and receiving free SMSs. In actual fact, the Trojan only sends SMSs to premium rate numbers, at a rate of $5 - $6 per SMS.
You can ping this entry by using http://www.mamlambo.com/mt/mt-tb.cgi/623 .
It was only a matter of time before viruses and such came to mobile. But it does appear that with the rather closed operating environment, that for the short term, SPAM via messaging and phishing and other sorts of social adverse content will be the main issue. Anti-Virus software isn't really necessary just yet. But of course, you don't really need it until you NEED it, you know?