Update (22/07/2016) The updated version of LibPNG can be found in Early Access 1.99.493 now. If you are still experiencing this issue make sure you are on this version and also let us know if you are.
We are aware of an issue with the version of libpng that GameMaker uses and that fact that all Android app creators are being informed of this issue by Google and linked to a support article containing the following message:
"Please migrate your app(s) to libpng v1.0.66, v.1.2.56, v.1.4.19, v1.5.26 or higher as soon as possible and increment the version number of the upgraded APK. Beginning Sep 17, 2016, Google Play will block publishing of any new apps or updates that use vulnerable versions of libpng. Your published app version will remain unaffected, however any updates to the app will be blocked unless they address this vulnerability."
We are aware of this and our development team are working on updating all necessary components to release an update.
When this update is complete it will be part of a new version, which means that in order to publish to Google Play from September 17th 2016 you will need to update to the latest version.
(20/06/16) Our version of libpng has been updated and has now entered the first stage of testing. There is no release date for the fix yet but it will be available soon. We will be updating the progress of the fix when new information becomes available.