With update 2.2 possibly coming soon for the iPhone, hopefully there will be a quick fix to an app-related bug that threatens iPhone security.

TechCrunch reports that there is a serious security hole in the image file "Default.png." The Default.png is displayed when an application is loading on the iPhone.

While the png loads, developers could issue commands to the iPhone that tricks the iPhone's code signing mechanism. Besides giving developers a back door to updating their software that circumvents the the iTunes App Store, the hole could trick the iPhone into believing that malicious code is from a trusted source.

Sounds scary right? Well, it seems the bug is one of many that allows developers to bypass the Apple screening process. So far none has been exploited.

Regardless, let's hope that Apple squashes these bugs with the next update. Just in case.