The last time we heard about the latest Apple gadget that's currently selling like hotcakes, the iPhone, we learned about how Independent Security Evaluators, a firm that tests their client's computer securities by trying to hack into them, has found a very critical security flaw in the iPhone. With the uncovered exploit enabling any hacker to literally take control of the gadget's main features, it should only be common sense for Apple to release a patch that plugs up that particular security hole.

So are they going to release that patch? We're not quite sure. As it is stands, Apple's got a bit of a time limit on their hands to do just that. The Black Hat 2007 Conference - pretty much where hackers and security experts converge to trade secrets and information about cracking and hacking today's latest security measures in the world of computers - is right around the corner, and suffice to say that the discovered exploit in the iPhone will be revealed there.

If that isn't scary enough, think of the consequences - after the conference, hackers will not only be able to make calls and send text messages with your iPhone, but also access your personal information and that of other people's stored in your iPhone. So it's not just your phone-slash-iPod that will be compromised, but your privacy as well.

With that aside, let's all cross our fingers that Apple beats the buzzer and puts up a security patch before the Black Hat 2007 Conference opens next week. Updates as we get them!