Are you scared? No? Good, because you don't even have to be scared. While F-Secure confirmed that this Trojan is a harmful one, as long as you keep it on your gadget, when uninstalled, it removes various files from the /bin folder and can render unusable applications like Sendfile or Erica's Utilities.
How can this be avoided? Very simple! First of all, if you didn't change anything on your iPhone, you should sleep well, because the Trojan only targets iPhones modded by their owners to install third-party applications.
While I am also one of those that like to mod what can be modded most of the time, I can't say I disagree with F-Secure's position regarding this evil piece of code - "Hopefully this serves as a warning for those who have opened their iPhones using a security hole in the system and then installing unverified software without a second thought to what they are doing.".
So far, so good, but one lesson should be learned from all this. "If it works, don't update it. If you want features that your model doesn't have, buy one that has them, but don't mod it." Especially since it seems an 11 year old that was playing with XML files created this so-called Trojan, I think this is more of a storm in a glass of water rather than a real threat, but it should be remembered as the first Trojan(more or less...) for the iPhone...