In Zephyr's userspace dynamic-objects subsystem, thread_idx_alloc() in kernel/userspace/userspace.c allocated a new thread permission index from the global _thread_idx_map[] bitmap without holding lists_lock. On SMP systems, two user-mode threads invoking the k_object_alloc(K_OBJ_THREAD) syscall concurrently can both observe the same low free bit, perform the same non-atomic RMW to clear it, and return the identical tidx. The two newly created K_OBJ_THREAD objects are then assigned the same thread_id, so the two user threads alias a single bit position in every kernel object's perms[] bitfield: any subsequent grant of access on a kernel object to one thread is implicitly a grant to the other, defeating userspace ACL isolation. A secondary lost-update window between the unlocked &=~BIT() in alloc and the locked |= BIT() in thread_idx_free() can also leak entries from the thread-index pool. The defect is reachable from any user-mode thread via the unrestricted __syscall k_object_alloc and is gated on CONFIG_USERSPACE, CONFIG_DYNAMIC_OBJECTS, and CONFIG_SMP. The flaw was introduced when the per-thread permission index was added in 2018 and is present in every release up to and including v4.4.0. Fixed by holding lists_lock across the bitmap RMW and the permissions clear (and inlining the obj_list traversal that previously took the lock itself).