it isn't a new concept, and if it helps to avert future problems I for one am all for it. I'm not one of those people who think that because you've made a mistake in life you can't be allowed to atone in some way. This person is young and may have had little idea about the implications of his actions at the time. I'm one of the first to condemn virus writers - in my workaday life I probably see the consequences of their work more than many, but I doubt that an attitude of vengeance is the best way for us to approach such crimes - death threats are a ridiculous reaction.
No doubt a court of law will pronounce sentence, and in due course a penalty will be paid. Let's leave the process of law to handle that, and leave the company involved to employ whoever it sees fit.