An alarming bit of news coming forth about the bug fixed with the latest iOS version for the iPhone, which was just released on Feb 21. The bug is a seriously scary exploit which could allow someone in the same wireless network as you (say, for example, at the airport or coffeehouse) to be able to eavesdrop on all your encrypted communications – emails, MMS, Facebook, what have you – with abandon.
Worse yet, it has now been revealed that this problem was present since September 2012, over a year ago. That’s an awfully long time to be exposed. If you are running iOS 7 on your iPhone, please consider updating immediately.
A more in-depth article with clear explanations at Gizmodo.