TimThumb Could not find the internal image you specified using WordPress/XAMPP

I’m trying to work with a local copy of my WordPress site using XAMPP in Windows 8.1, everything works fine, except for the images which does not load at all, I’m using a theme and I believe this one comes with TimThumb, the error that I receive is:

A TimThumb error has occured

The following error(s) occured:
Could not find the internal image you specified.

Query String : src=http://localhost/wordpress/test/wp-content/uploads/2013/05/demotop.png&w=960&h=415
TimThumb version : 2.8

If I copy the url provided and paste it in a new tab, it works, but it fails from the site; could you help me out please?

Thanks!