I'd recommend a news update, yes.
No direct details. Not even sure I'd mention ban reason in the news release.
Just 'we were notified of a command injection possibility, and it's fixed in our latest github, available <link> here for direct ZIP, and <link> for SVN.' type heads up.
Is TheCommander a user here with a different nickname?
If so, thank them directly as their Ulysses nick name for the heads up about another person finding it.