Last week Cake Poker acknowledged a security issue brought up by Pokertableratings.com and promised to fix it ASAP. A new version of the software with a proper SSL support in place has now been issued but the beta version of the software is still unsafe.
"The vulnerability seems to have been resolved in full for the version 1.0 Cake client," Pokertableratings.com reports. Not all Cake skins have yet implemented the new patch but presumably all will in a short time. The PowerPoker skin already includes the new patch. You can check this by going to C:/Program Files/(name of the skin you use) on your computer and looking for a file called ssleay32.dll in the software folder. If the folder does not contain a file by this name, it is recommended that you wait until the skin is brought up to date before using the software.
However, the beta version of the Cake software is reportedly still insecure and not safe to use.
The security issue was related to weak encryption and the risk level was severe only on computers using open wireless internet connection.
Source: Pokertableratings.

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"The PowerPoker skin already includes the new patch." (from above article)
--> Bless you good people!" & Continued Good Luck + Best wishes, etc.
:d: :c: :h: :s: "power poker is the place to be, bet-check-raising is the life for me... spread those limits far and wide, oh flip this coin and push the money to my side!"
FYI
It was never dangerous unless you played on a open unsecure network which I guess would be very rare for any poker player to do.