Mak Maunder, the CEO of Feedjit early this Monday discovered a security flaw in TimThumb script. TimThumb is script commonly used in many WordPress themes to resize images on the fly.
The only theme in our collection that is affected to this security flaw is nowLedge, we have release an update and you can download latest version of nowLedge 1.0.2 from our support forum. All you need to do is download the zipped theme file and overwrite your current timthumb.php file located in /wp-content/themes/nowledge/timthumb.php with the one in the new version.
Alternatively, you can update your timthumb.php located in your theme folder with the latest version in http://timthumb.googlecode.com/svn/trunk/timthumb.php