Use-after-free vulnerability in Microsoft Internet Explorer 6 through 8 allows remote attackers to execute arbitrary code via a crafted web site that triggers access to an object that (1) was not properly allocated or (2) is deleted, as demonstrated by a CDwnBindInfo object, and exploited in the wild in December 2012.
The product reuses or references memory after it has been freed. At some point afterward, the memory may be allocated again and saved in another pointer, while the original pointer references a location somewhere within the new allocation. Any operations using the original pointer are no longer valid because the memory "belongs" to the code that operates on the new pointer.