The official name for the bug is CVE-2021-30747, but the developer who discovered it prefers to call it M1RACLES, all in caps.
Like every BWAIN (our own impressive name for bugs with impressive names, short for Bug With An Impressive Name), it has a personalised domain, a logo and a website where you can learn all about it.
The finder of the bug, Hector Martin, writes on the website that:
The vulnerability is baked into Apple Silicon chips, and cannot be fixed without a new silicon revision.
As you’ve probably realised, the M1 at the start of the word M1RACLES specifically denotes the M1 processor chip, Apple’s brand new Intel replacement that’s the brain of the latest Mac hardware.