Patch 1.2.1 addresses only a few things but that doesn't make them any less important.
Here are the patch notes for update 1.2.1.
Version 1.2.1 Patch Notes
- A bug in regards to the number of digits for password settings has been fixed
- In regards to the passwords that can be set for Y-Comm and Max Raid Battles, fixed the bug where players could be matched with others whose passwords were not coinciding.
- Other Updated Content
- Fixed several other issues to improve gameplay experience.
Reports from @PokeJungle claim that hacked raids have also been disabled.