KRACK (Key Reinstallation Attack) is a severe replay attack on the Wi-Fi Protected Access protocol that secures Wi-Fi connections. It was discovered in 2016 by the Belgian researchers Mathy Vanhoef and Frank Piessens of the University of Leuven.
We discovered serious weaknesses in WPA2, a protocol that secures all modern protected Wi-Fi networks. An attacker within range of a victim can exploit these weaknesses using key reinstallation attacks (KRACKs). Concretely, attackers can use this novel attack technique to read information that was previously assumed to be safely encrypted. This can be abused to steal sensitive information such as credit card numbers, passwords, chat messages, emails, photos, and so on. The attack works against all modern protected Wi-Fi networks.

The full details about this KRACK wpa2 exploit can be found here.
Galaxy S7 (SM-G930W8) & Galaxy S7 (SM-G930W8) Updates
These are the updates that make rounds in all Canadian carriers Galaxy S7 and S7 edge.
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US Factory Unlocked Galaxy S7 (SM-G930U) and Galaxy S7 Edge (SM-G935U) Updates
These are the recent updates for the factory unlocked Galaxy S7 and S7 edge in the United States, no matter what SIM card you're device using at.| Galaxy S7 edge SM-G935U | Galaxy S7 SM-G930U |
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International Galaxy S7 (SM-G930F) and Galaxy S7 Edge (SM-G935F) Updates
There hasn't much massive deployment yet in Europe, and other parts of the world for the international variants of the Galaxy S7 and S7 edge. But there is one carrier has respond the call, and that's Vodafone Europe, including and Vodafone South Africa, T-Mobile Europe, and some network providers in each specific countries.
The following are the technical details released by Vodafone to their Galaxy S7 and S7 Edge costumers.
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Sprint Galaxy S7 (SM-G930P) and Galaxy S7 Edge (SM-G935P) Updates
Sprint released the 38 MB update that addresses KRACK exploit and November security patch.| GALAXY S7 EDGE SM-G935P | GALAXY S7 SM-G930P |
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AT&T Galaxy S7 (SM-G930A) and Galaxy S7 Edge (SM-G935A) Updates
AT&T rolled out the update on the 8th of December. The update brings along the support for new Mobile Hotspot APN, and also made some changes to the AirWatch fix for Enterprise customers, call performance improvements, network performance improvements, and November Security Patch Level.
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Verizon Galaxy S7 (SM-G930V) and Galaxy S7 Edge (SM-G935V) Updates
Verizon deployed the update on November 3, 2017. The update weighs at only 40 MB in size.| GALAXY S7 EDGE SM-G935V | GALAXY S7 SM-G930V |
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Among all major carriers in the United States T-Mobile hasn't deployed it yet, but it might arrive in mid-December 2017.
Yet again, it is highly recommended to update your device, just simply hit your device Settings > About device > Check for Updates.