Zero-Day Flaw Found in Linux

BoraMurdar

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A new zero-day vulnerability was found inside the Linux kernel, making numerous distributions, including Android, vulnerable to attack.

A cyber security startup called Perception Point, detailed late last week a big problem that it had found inside the Linux kernel. The flaw allows an attacker to gain root level privileges by running a piece of malware on an affected device. With that elevation of privileges the attacker could then take complete control of a device and its data. Ironically, the flaw itself was found to be part of one of Linux’s security features and it relates to the way processes store secure information in keyrings.

The real problem is that this flaw affects potentially hundreds of millions of users, given that many distributions and implementations of Linux are vulnerable. The worst is probably Android itself, where 66% of users are now using operating systems vulnerable to this exploit and older than two years, with little chance of receiving much-needed security patches.

There’s less to worry about on the PC side of things, where Red Hat, SUSE, and the Linux security teams are already in the middle of deploying patches to fix this vulnerability. There’s also some good news in that there’s no evidence of this exploit being used in the wild just yet, but seeing how so many devices could be affected it’s another good reminder of why you should keep your software up to date.

Source: Perception Point via Data Breach
 
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You cannot really prevent that case, considering the number of users use Android as mainstream smartphones plus manufacturers tends to leave those older models to be obsolete on updates.

Hence those who can manage to have Android One smartphones from Google can receive daily updates for 2 years but the point here is that the way of concept where high class always give the priorities as it can give big value than lower ones.
 
UPDATE: On January 19th, 2016, Perception Point and Red Hat announced a security issue…

"On January 19th, 2016, Perception Point and Red Hat announced a security issue (CVE-2016-0728) in the mainline linux kernel that affects some Android devices. We have received some questions, so I want to quickly provide an update.

We have prepared a patch, which has been released to open source and provided to partners today. This patch will be required on all devices with a security patch level of March 1 2016 or greater.

In addition, since this issue was released without prior notice to the Android Security Team, we are now investigating the claims made about the significance of this issue to the Android ecosystem. We believe that the number of Android devices affected is significantly smaller than initially reported.

We believe that no Nexus devices are vulnerable to exploitation by 3rd party applications. Further, devices with Android 5.0 and above are protected, as the Android SELinux policy prevents 3rd party applications from reaching the affected code. Also, many devices running Android 4.4 and earlier do not contain the vulnerable code introduced in linux kernel 3.8, as those newer kernel versions not common on older Android devices."​
 
I'm afraid this is a case where one would say "This could happen to any software."
And also, it would seem that non-rooted phones running the Android versions mentioned by @Huracan cannot be affected by this exploit, so the overall issue might be a bit over-exaggerated. :P