CVE-2026-34942: Wasmtime: Panic when transcoding misaligned utf-16 strings

Wasmtime’s implementation of transcoding strings into the Component Model’s utf16 or latin1+utf16 encodings improperly verified the alignment of reallocated strings. This meant that unaligned pointers could be passed to the host for transcoding which would trigger a host panic. This panic is possible to trigger from malicious guests which transfer very specific strings across components with specific addresses.

Host panics are considered a DoS vector in Wasmtime as the panic conditions are controlled by the guest in this situation.