yes this is indeed a huge problem for the community.
it will aid the bad guys create cheats.
it important to note that open source is generally better and more secure than closed source software because there are more good guys than bad guys looking at the code and reporting fixes.
unfortunately all the good guys in this situation who are not part of valve wont be coming close to the source with a 100 km pole , in order to avoide tainting.
This leaves valve alone and one step behind in a fight that was even supposed to start yet..
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