The flaw could allow attackers to inject an SQL command and getting their hands on administrator credentials, which would then allow them to access the administration panel and, therefore, to databases containing sensitive user information (email addresses, passwords, etc.). And, if write permission is enabled, they could even execute malicious code.
The discovery of the flaw was shared with vBulletin's developers, who immediately began working on a fix.
According to Softpedia's Ionut Ilascu, the hacking community - Romanian Security Team - is not interested in abusing or selling the vulnerability information, although it could likely earn them good money as vBulletin is used by tens of thousands different websites.
A representative of the group has told Ilascu that the company has reacted promptly to their heads-up, and that the next release of the software will contain a fix for the issue.
Once the new version is out, and has been implemented by a large number of users, the group will share details about the vulnerability with the public.