PunBB 1.2.9, when used alone or with F-ART BLOG:CMS, includes config.php before calling the unregister_globals function, which allows attackers to obtain unspecified sensitive information.
PunBB 1.2.10 and earlier allows remote attackers to conduct brute force guessing attacks for an account's password, which may be as short as 4 characters.
admin_loader.php in PunBB 1.2.1 allows remote attackers to read arbitrary files via the plugin parameter.