A security bug was found in all versions of ubb.threads 7.x in the dosearch.inc.php file. A patched file has been made available to all owners of ubb.threads 7.x. Download it from the members area at ubbcentral.
Official announcement and instructions can be found here.
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Please also see our parent organization VNC Web Services if you're in the need of a new UBB.threads Install or Upgrade, Site/Server Migrations, or Security and Coding Services.