I found a security breach in instawallet last week... I fixed it for them... they never tipped me or anything...
Correction: You found a "mistake" in their website. Some might call it a flaw, but it is certainly not a security flaw or exploit.
Please don't spread alot of FUD, this might actually be a serious matter. Someone might have exploited a real security vulnerability.
If those google https:\\ links pointed back to the instawallet web site it most certainly is a security flaw which could indeed lead to exploits in my opinion.