According to Cognosec, there is a critical vulnerability with ZigBee (one of the protocols supported by the SmartThings hub) which allows attackers to gain access to a ZigBee network by abusing a feature called "Insecure Rejoin". This forum post has an accessible yet detailed explanation of the issue for futher context.
I found a section in the SmartThings FAQ about the issue, which seems concerning:
The current ZigBee Home Automation 1.2 standard uses encryption to allow only authorised devices to join a home network. In order to allow some devices (like motion sensors) to drop off of, and then easily re-join the network (to preserve battery power), there is a feature known as “insecure rejoin” built into the standard. It has been shown, however, that in very specific cases this feature could potentially be used to gain unauthorised access to a ZigBee network.
According to that FAQ, Insecure Rejoin is enabled by default. Is this true, and does it mean that virtually all SmartThings hubs are vulnerable to attack?