On September 3, 2015 SecuriTeam disclosed a vulnerability in the Ubiquiti Networks mFi Controller, a software to configure and control automation devices such as power outlets, light/motion/temperature sensors, etc. To understand the capabilities of the machine-to-machine platform, please have a look at the vendor page.
The security flaw allows an attacker to retrieve the current admin password due to a bypass in the authentication mechanism used by the mFi Controller Server.
Considering that the advisory published on 09/03/2015 contained a technical description of the vulnerability, including a reliable exploit, it is reasonable to assume that the security flaw can be easily abused by unsophisticated attackers. While the information was removed from the SecuriTeam website and /r/netsec, a quick search on Google is sufficient to find the exploit for this bug.
Despite the public exposure, Ubiquiti has yet to publish a patch.
After waiting patiently for a few weeks, I created my own patch. Using mFiPatchMe, you will be able to easily patch your controller and leave it running without worries.