Without knowing when that was, I can't be sure how concerning it is.

As an end user, security in game development seems to hit a minimum is the early 2000s.

I recall playing EverQuest and using ShowEQ on a Linux machine on the same network as a proxy to silently eavesdrop on the traffic to show a map of the game with all the hidden/obscured/visible stuff all present. They either never encrypted that traffic or I quit playing before they did.

As multiplayer games started to become the default, netcode improved quite a bit and basic encryption was implemented - but I don't recall a single multi-player game, ever, that was free of hackers when playing online.

It feels like over the years the issue moved from remote exploitation to hiding processes on the user's machine. That has lead to kernel-level anticheat systems. I'm unsure of the effectiveness as when they started to become common I moved all of my gaming to dedicated hosts because I wasn't willing to give that level of access to my "real" computers. That said, I've certainly not noticed a decrease in the perceived number of cheaters.

These days, as far as I know - and to be clear, this isn't an area of deep interest for me - I'm not worried about my gaming accounts being compromised through technical means. It feels like that sort of security is a solved issue overall, although I suppose it's also possible that other forms of exploits have simply gotten easier/cheaper.