The first known instance of Windows Phone 8 malware: Threats, Stakes as from the end of November 2012

Well known as the world's youngest Microsoft Certified Application Developer (MCAD). Shantanu Gawde presented in 2011, a malware application that used Microsoft's Kinect gesture recognition technology at the same conference.
For reaffirm its potential, since the launching of Windows Phone 8 October 29, 2012, a teenage hacker from India claims to have developed a prototype of malware that will run on Smartphones running Microsoft's new Windows Phone 8 operating system.
Shantanu Gawde, said he will unveil the malware prototype at the Malcon security conference in New Delhi, India, later November 2012.
Gawde's presentation aims to demonstrate approaches and techniques for infecting... Windows Phone including how to steal contacts upload pictures and steal private data of users, gain access to text messages etc.
Regarding Windows Phone 8, it aims to mark a major re-make of the Windows Phone 7 OS and includes higher screen resolution and support for multi-core processors, as well as Near Field Communications (NFC), a wireless technology that is integral to evolving mobile payments solutions.
  
 Windows Phone 8 also boasts some additional security features, including secure boot and native 128-bit Bitlocker encryption.