Source: Engadget
You recently read about the applications containing malware that found themselves on the Android Market and on the internet. Google was very quick to act on it and using the kill switch feature on Android phones they were able to remotely wipe off the applications from the affected phones. They have now taken more steps in ridding the market of malware and protecting the Android users from future attacks.
Firstly the exploit does not effect users running Android version 2.2.2 or higher, so make sure your phone has the latest updates. This is far from the truth for most Android users as manufacturers take forever to push out updates.
Secondly all effected phones willreceivean automatic market update that will undo the exploit. Users willreceivethe notification for the installation of this update. No action on their part is required as the procedure is automatic.
Furthermeasures are being taken by Google to prevent any such incident to take place in the future, although they didn't mention any specifics to what these measures are.
Google chose to have a very lenient hand as far as submitting applications to market is concerned and while that means a massive quantity of applications that do amazing things, it also comes at a price. However, it's good to see Google acting quickly on this matter and taking necessary measures. That being said, the responsibility lies on the user. There is no way to rid the internet off malware applications completely so care should be taken to download applications from trusted sources and avoid cracked applications.
Source: Google