The protocol_client_msg function in vnc.c in the VNC server in (1) Qemu 0.9.1 and earlier and (2) KVM kvm-79 and earlier allows remote attackers to cause a denial of service (infinite loop) via a certain message.
Qemu 0.9.1 and earlier does not perform range checks for block device read or write requests, which allows guest host users with root privileges to access arbitrary memory and escape the virtual machine.