"An image resizing utility called timthumb.php is widely used by many WordPress themes....The utility only does a partial match on hostnames allowing hackers to upload and execute arbitrary PHP code in your timthumb cache directory... Also recursively grep your WordPress directory and subdirs for the base64_decode function and look out for long encoded strings to check if you’ve been compromised."
"NOTE: timthumb.php is inherently insecure because it relies on being able to write files into a directory that is accessible by people visiting your website. " Source
Comments say that by upgrading to version 2, it becomes harder to exploit the code. Code
It seems the only directory that requires 777 permission is cache, apart that all the folders/files should be default value.
I have added the script to my code-igniter site for image resizing. Should I feel safe using the script at the moment, or should I look for a alternative?