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That BUG_ON is a full up kernel panic? That's a pretty severe issue if so.

Yes. In all seriousness, this is a "drop everything and patch" situation, as soon as the patches are available.

It's a little bit more involved than a ping of death, but still, relatively easy to exploit.

Seems like anybody with an open TCP port and SACK enabled (the default) is vulnerable.

and Generic Segment offloading.

Yes.