Charlie Miller, a well-known security researcher who specializes in Mac and iPhone security, yesterday revealed information about a new vulnerability in iPhone that allows remote code execution via SMS. Not a lot is known about the vulnerability, which was announced at the SyScan conference in Singapore, except that Charlie is working with Apple to get it fixed as soon as possible.
(picture from apple.com)
This is about as bad as it gets as the vulnerability seems to allow unsigned code to run which circumvents a core part of iPhone's security model. It's usually only able to run signed code, i.e. Apps that have been approved by Apple. No user-interaction is required which is unlike current mobile malware. InfoWorld has the original story here.
Charlie plans to reveal more information at BlackHat USA.
PS. I'm shift manager for one of our three daily response shifts this week and I'm tweeting about what we're doing on the shift over at http://twitter.com/patrikrunald.