Open and Compact FTPD Auth Bypass and Directory Traversal Vulnerabilities

The host is running Open and Compact FTPD server and is prone to authentication bypass and directory traversal vulnerabilities.
Successful exploitation will allow attackers to execute FTP commands without any authentication and read arbitrary files on the affected application. Impact Level: Application
No solution or patch was made available for at least one year since disclosure of this vulnerability. Likely none will be provided anymore. General solution options are to upgrade to a newer release, disable respective features, remove the product or replace the product by another one.
Multiple flaws due to, - Access not being restricted to various FTP commands before a user is properly authenticated. - An Error in handling certain requests.
Open and Compact FTP Server version 1.2 and prior.
Send the crafted directory traversal attack request and check whether it is able to read the system file or not.