The Heartbleed bug is the name of a major coding flaw on the internet that gives cybercriminals a window to obtain and use personal information without a trace.

According to experts, the so-called bug affects two-thirds of servers around the world, leaving many password protected sites, like online banking and Facebook, open to hackers.

As of Thursday, many online domains are taking precautions including the Canadian government as tax season nears its April 30 deadline.

Ed Miles has a backlog of tax returns ready to e-file but he can't, as the Canada Revenue Agency has shut down e-filing until at least the weekend. It’s a precaution, thanks to the recently discovered Heartbleed security threat.

"A security breach now would be a catastrophe," Miles says. "It's going to be a problem for people who are expecting their returns within seven days."

An online Google security agent found the problem and word spread quickly.

According to PC Outlet network administrator Vince Janisse, the Heartbleed bug has actually been around for two years. The bug siphons normally encrypted information such as usernames and passwords, allowing hackers to eavesdrop, impersonate, and steal from web users.

"My main concern would be banking, emails… stuff where critical info could cost you money in the long run," Janisse says. “It’s a huge concern.”

Janisse says there are many ways to protect yourself against being bled dry of your personal information.

"You can change your email password; contact your credit card company. I'm sure they're going to be bombarded with calls."

Janisse says there's already a patch available and many software companies are updating their code and informing its users of the fix.

"National Defence is the first priority, and the second is tax collections,” says Miles. “So you know they're putting every available resource into getting the system back up."

Janisse says despite the late discovery of the threat there's good news.

"You're actually probably safer today, now that it's been discovered, and things are being fixed and done about it," Janisse says.

A website has been setup, allowing internet users to check which websites have already been fixed.