CVE-2024-38437 is a critical authentication bypass vulnerability in D-Link devices. This flaw allows unauthorized access through an alternate path or channel, bypassing normal authentication procedures. Despite a high CVSS score of 9.8, the SOCRadar Vulnerability Risk Score (SVRS) is 30, indicating a lower level of observed real-world risk compared to its potential severity. This D-Link vulnerability could permit attackers to gain administrative control. Attackers exploiting this vulnerability may be able to compromise devices, alter configurations or access sensitive data. Organizations using affected D-Link equipment should investigate this vulnerability, even with the low SVRS, to ensure the vulnerability does not become more prevalent in the threat landscape.