> Microsoft’s point-to-point tunneling protocol version 1.0 was a miserable 
> failure.  Version 2.0 closed up many of those holes and was widely regarded 
> as secure, except for a configuration option which was on by default: “Enable 
> backwards compatibility.”  So to exploit a PPTP 2.0 connection, you just had 
> to connect and give it a 1.0 handshake, at which point it would fall back 
> into an insecure mode.

https://www.schneier.com/paper-pptpv2.html

Check section 5.1, “Version rollback attacks”.  Full details there.

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