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It's not deleted, just quarantined. You can find it by looking in the list of quarantined files in the Navigation section of Security Center.
However, if McAfee is detecting this as a Trojan you should pause before telling McAfee to trust this file. The only safe place to get the file from is from Valve (through Steam) so if you got it from one of the torrent sites it's very probably a Trojan, as McAfee says.
If you want to be sure, go find it in the Quarantine section and click the button that says Send To McAfee. If it's a false detection the labs should let you know it's okay.
Thank you for reply Hayton,
I did the same as you mentioned in your reply, so after submitting the .exe to Mcafee, when can i expect the reply from Mcafee and will they reply on my registered mail-id ?
See this section in the McAfee online help : the relevant bit says
You can send quarantined items to McAfee, where they are analyzed to create filter updates. When you submit a quarantined item for analysis, you are given an ID number so that you can track your request on the McAfee website : webimmune.net.
Game players are especially targeted by all sorts of malware. I just found an article about a phishing site aimed at Valve/Steam customers - "Free game offer leads to Steam phishing site"
Online gamers are often targeted with phishing schemes set up by crooks who are after users' in-game items and money, and the latest one to be spotted is aimed at Steam users.
The phishing page is a spoof of the official Steam Community webpage, sporting an "exclusive offer" : a free Valve game ...
In case that 'Send to McAfee' button in the Quarantine folder fails to work, which sometimes happens with certain ISP's blocking such trafiic, you can follow the hints I've laid out here: https://community.mcafee.com/thread/2016