There's a similar one doing the rounds on Facebook at the moment. It's hosted on imagehost as an swf which redirects to a fake Facebook looking URL. Here's the link.

http://img232.imageshack.us/img232/909/fbdr4.swf

I quite admired this one, as it's super viral. Once they get your details, by being an idiot and entering login details, it logs into your account and posts a message to all your friends saying, "I just found this blog with some really horrible pictures about you. You gotta check this out." then it shows the above link.

The rest is self explanatory.