Latest Release from WooCommerce has Critical vulnerability

Major WordPress e-commerce plugin and theme Woocommerce has notified that the release 5.5.0 on 13 July 2021 has Critical vulnerability and therefore has notified the users of Woocommerce to update with version 5.5.1 on an urgent basis.

In their email to the users, Woocommerce has notified that We’re reaching out to let you know that a critical vulnerability was identified in WooCommerce (versions 3.3 to 5.5) and the WooCommerce Blocks feature plugin (versions 2.5 to 5.5).

What actions should I take with my store?
Stores hosted on WordPress.com and WordPress VIP have already been secured. We are working with the WordPress.org Plugin Team to automatically update as many stores as possible to secure versions of WooCommerce. We also urge you, however, to take the following added precautions to safeguard your site:

Update your copy of WooCommerce to the latest version (5.5.1) released on 15th July 2021 or the highest number possible in your release branch.
If you are running the WooCommerce Blocks feature plugin, you’ll need to update it to the latest version (5.5.1).

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