This isn't really a WinAmp exploit, though. It's a cunning way to cicumvent Internet Explorer's 'zone' restrictions. Nobody's sure if SP2 fixes it or not - but this is one more reason I'm glad I run Firebird on my Windoze box.
Secunia.com has announced an exploit (derived from xml escaping the Internet zone into IE's local zone) that exploits Winamp's habit of automatically installing skins. Currently all versions of Winamp are affected. Details on the Winamp forums - apparently an exploit is already in the wild, and spreading.
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