Irssi before 0.8.15, when SSL is used, does not verify that the server hostname matches a domain name in the subject's Common Name (CN) field or a Subject Alternative Name field of the X.509 certificate, which allows man-in-the-middle attackers to spoof IRC servers via an arbitrary certificate.
The product receives input or data, but it does not validate or incorrectly validates that the input has the properties that are required to process the data safely and correctly.