LOL Folder Is This A Virus?

I was cleaning up my system today as my son has been downloading stuff and clogging up my comp. I came across a folder which was named LOL, I tried to open it to see what it was and a box came up on my screen saying deleting...... and no mater what I did I could not stop it. I noticed it was deleting all my windows files. I could not get access to the internet and I was scared to turn off my comp incase it wouldn't startup again so I reinstalled windows. I still have not rebooted but I now have access to the internet, but I am having to use netscape 6 as internet explorer is acting strange and will not load up any pages. Does anyone out there know if this folder is a virus or a hoax.

TIA Anais

 

I have found out that LOL.exe is a prank not a virus, which is not dangerous just meant to cause panic.

For anyone out there what may come across this prank this is what was posted to me in another forum.

"WARNING: new computer virus, different then other sorts of viruses,
this 401 virus doesn't need any file or email transfers, this virus
works like a 404 page you get when a page doesn't exist.
PROBLEM:The 401 virus infects your system with 3 files:
LOL.exe= laugh out loud file
LMAO.exe= laughing my *** off
ROTFL.exe= rolling on the floor laughing
PLATFORM & BROWSERS: Any platform & browser that is connected to the
www
DAMAGE: No files will be deleted, just a prank to cause panic.

Anais