The binary imports an unbounded C string function (strcpy/strcat/sprintf/gets/stpcpy), which copies without a length check and is a classic stack/heap buffer overflow when the source is attacker-influenced.
The binary imports an unbounded C string function (strcpy/strcat/sprintf/gets). When the source data is longer than the destination buffer, the copy overflows it. With attacker-controlled input this corrupts the stack or heap and, past the binary's mitigations, can lead to code execution.
Memory corruption and, in the worst case, remote or local code execution; at minimum a crash (denial of service).