What is a vulnerability?
Vulnerability is any weakness within information systems, internal control, or system processes. The vulnerabilities can be exploited to gain access to the system, control over it, process, and infrastructure.
Binary vulnerability is a vulnerability at the binary code level.
Allows you to overflow the buffer and therefore to overwrite some valuable pieces of the memory.
Allows you to overflow the stack and get control over the process.
Allows you to read or overwrite arbitrary data within the executable.
Allows you to overflow the heap or use a special program behavior to get control over the process.