Recommended reading on Ars Technica: Battered, but not broken: understanding the WPA crack. It says:
Academic researchers have found an exploitable hole in a popular form of wireless networking encryption. The hole is in a part of 802.11i that forms the basis of WiFi Protected Access (WPA), so it could affect routers worldwide. German graduate student Erik Tews will present a paper at next week’s PacSec in Tokyo coauthored with fellow student and aircrack-ng team member Martin Beck that reveals how remnants of WPA’s predecessor allow them to slip a knife into a crack in the encryption scheme and send bogus data to an unsuspecting WiFi client.
If this proves to be true, many wireless networks might be vulnerable. Let’s wait presentation “Gone in 900 Seconds, Some Crypto Issues with WPA” by Erik Tews on PacSecin Tokyo next week and see.