Apple is urging owners of the Apple Watch to install the update to watchOS 7.6.1. Why the urgency? A flaw called the IOMobileFrameBuffer may have been actively exploited, according to a report that Apple is aware of. With the flaw, an application may be able to execute arbitrary code with kernel privileges which means that an attacker could gain unrestricted access to the timepiece.
With watchOS 7.6.1 disseminated to patch the vulnerability, it would behoove those with a Series 3 or newer Apple Watch to install it ASAP. To do that, open the Watch app on your iPhone, tap on General > Software Update and you should see the prompt for the update. To install the update, your Apple Watch needs to be on its charger and in range of your Wi-Fi connected iPhone.
Once the timepiece is charged to at least 50%, the installation will begin. Do not restart the watch or remove it from its charger until the update is completed. The patch delivered by watchOS 7.6.1 addresses the memory corruption issue using improved memory handling.
Earlier this week Apple released iOS and iPadOS 14.7.1 to patch the same serious security issue that the watchOS 7.6.1 update is patching. The update weighs in at 64.6MB.