Snapchat was warned last summer by a security firm, about exploits that eventually led the SnapchatDB! website to leak the phone numbers. The app allows users to send video, photo and text messages that self-destruct and disappear after 10 seconds. Snapchat has said that it will improve the security on the app and also added an email address to answer security concerns from members. That address is security@Snapchat.com.
There is plenty of money at stake for Snapchat if it can make users feel secure. Last June, well before all of this trouble started, Snapchat completed a round of financing with an $800 million valuation. By the end of the year, the company is believed to have turned down a $3 billion offer from Facebook and a $4 billion offer from Google.
source: Snapchat (iOS|Android) via Engadget