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Re:Nginx, Inc. announces its Series A funding by protagonist_h on Tuesday October 11, 2011 @06:54PM (#3100765)
Upgrading to at least the latest minor version (0.7.6y as you say) may indeed be a good idea since there have been some security vulnerabilities discovered e.g.

http://cve.mitre.org/cgi-bin/cvename.cgi?name=CVE-2009-2629

Not sure if this poses any real danger in practice, but still -- better be safe than sorry.

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