An Empirical Analysis of Spam Marketing Conversion

[sowhat-x]

Storm botnet brought in daily profits of up to $9,500
http://arstechnica.com/news.ars/post/20081110-study-storm-botnet-brought-in-daily-profits-of-up-to-9500.html

The paper itself:
http://www.cs.ucsd.edu/~savage/papers/CCS08Conversion.pdf