A flaw discovered in IrfanView Plugins affects user’s system. It is due to a vulnerability in JPEG2000 plugin when processing QCD. An attacker may use crafted JPEG2000 (JP2) file to cause buffer overflow.
A successful attack allows to execute arbitrary code.
The flaw was found in version 4.32. Users should upgrade the plugin to version 4.33.

Source: Secunia
17.01.2012