As long as people are willing to be mischievous and cause trouble, there will be security exploits and the latest affecting many WiFi routers has been shown off by Oxcite, a Swiss Security Firm. In this attack, they take advantage of the PIN required for WPS setup and then are able to actually "guess" the correct PIN on the very first try. Hacking the router literally takes one second. Whoops.
A vendor implementation that improperly generates random numbers is more susceptible to attack, and it appears as though this is the case with at least two devices," she said in a statement. "It is likely that the issue lies in the specific vendor implementations rather than the technology itself. As the published research does not identify specific products, we do not know whether any Wi-Fi certified devices are affected, and we are unable to confirm the findings.