Sick to death of this garbage going around needlessly scaring everyone who has ever jail broken their iPhone or iPod Touch.

First of all, a straight Jail broken iPhone or iPod touch is not venerable. Nor is a normal iPhone or iPod Touch.
The only phone thats vunerable is one that you have installed SSH on, and have not changed the password.

Most people who have Jailbroken and installed SSH actually KNOW what it does and what to use it for, and its not installed for by default. SSH lets you connect out to another machine running SSH in a console text based way to any other machine running SSH also. Hence the installation of SSH lets you connect to your Device and upload things in bulk or edit files that normally wouldnt get edited.

Now, the hack only occurs because some people did not change the password when they installed SSH. When you install it, it clearly tells you to set a password. If you dont, you are stupid and probably deserve getting exploited.
Chances are that you wont get exploited in any hurry in any case, its not a common occurrence, and its easily fixed if you do.

In summery,
Jail breaking is cool and fun and gives you added functionality. Installing applications when you don’t know how to use them or what they are for is a bad idea, especially if you don’t follow instructions well.
Best of all, just hit the reset/reinstall button in itunes if you get hacked, instant fix!

DONT PANIC!

Reference for you: iPhone repair San Diego.