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Apple's released a new software update and you should probably take the time to update your device. The update directly addresses a few security holes the company recently announced.
According to Apple's support page entry (read here) the exploits are related to exploits in the WebKit (which powers Safari, the company's mobile web browser) and the Kernel, the operating system's core.
(I said "Kernel," not "Colonel)
The exploits have been given CVE numbers:
It's unclear as to what exactly the exploits are. Apple has a history. of not getting into specifics when identifying threats to their end-users. What can be discerned from the support page is the kernel exploit could allow hackers to elevate privileges on the device, while the webkit exploits both allow an attacker to run arbitrary code.
If we hear any more news on the matter we'll keep you in the loop. Otherwise, update your iPhones and iPads as soon as possible.
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