Ouch. This affects virtually everyone including Mac, Linux, and Windows users. More can be found here at the PSIRT site. And yes, there is malware already associated already with it.

    • A critical vulnerability exists in Adobe Flash Player 10.0.45.2 and earlier versions for Windows, Macintosh, Linux and Solaris operating systems, and the authplay.dll component that ships with Adobe Reader and Acrobat 9.x for Windows, Macintosh and UNIX operating systems. This vulnerability (CVE-2010-1297) could cause a crash and potentially allow an attacker to take control of the affected system.
    • There are reports that this vulnerability is being actively exploited in the wild against both Adobe Flash Player, and Adobe Reader and Acrobat.

Securing Our eCity Contributing Writer