
The flaw is within how the software handles SMS (Short Message System) text messages. A security researcher was able to remotely crash an iPhone via specially crafted SMS messages, and that usually means that other attacks, such as installing their own software, creating denial of service conditions, or spreading additional malicious code are possible.
Look for Apple to patch this one quickly, given the fact that details of the vulnerability are rapidly becoming public. The normal result is an uptick in activity among malcode writers who look to begin exploiting the vulnerability.
Once Apple issues the fix, make sure you update your iPhone's software immediately, as the bad guys who haven't figured out the flaw will reverse-engineer the fix in order to build and scatter exploits in the wild.
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