At low levels it smells like wet cement. At higher levels it smells like mold. The responsible compound is known as TCA, trichloroanisol, and it comes from wood products breaking down in the presence of chlorine. A simple solution is to swish a plastic bag, like a sandwich bag, around in your glass and the off odor should be absorbed by the plastic. Other aromas, however, will also be absorbed. Thus this is a good reason in a restaurant to ask for a second bottle. Seldom does this happen to two bottles in a row because the wood in this case is cork, thus this trait is known as corkiness.
There is the possibility that a particular winery has wood tanks with this trait thus a lot more wine will be infected. If you get a second bottle change brands and drop the contaminated winery an email because they may not know. I find this moldy character on foods such as lettuce where they have been shipped on wood pallets and some fruits like apples. As a winery we always stand behind our product and will replace the bottle if you send it back with a sample left in it for our verification.