A built-in video player used by the popular browser, Microsoft Internet Explorer, is vulnerable to hacking, claims Microsoft. The problem is accentuated in computers running on Windows XP or Windows Server 2003 operating systems.

“An attacker who successfully exploited this vulnerability could gain the same user rights as the local user,” the software giant warned in a security bulletin. “We are aware of attacks attempting to exploit the vulnerability.”

The flawed video player in question is the ActiveX Video Control that is used for capturing, recording or playing video and is also a main component of Windows Media center.

“When ActiveX control is used in Internet Explorer, the control may corrupt the system state in such a way that an attacker could run arbitrary code,” the Redmond, Washington-based company said.

“Microsoft is currently working to develop a security update for Windows to address this vulnerability.”

Hackers can take advantage of the vulnerability when Internet users visit websites that may have been booby trapped with malicious code. Unsuspecting computer users may get emails enticing them to visit hazardous websites.

The attackers who exploit the advantage could install programs; view, change or delete data; or create new accounts with full user rights, according to Microsoft.