If it makes you feel any better Homefront is having the same issues. Bet that didnt make you feel any better at all?

LOL
Hours after the security fixes were implemented (as reported by several players) I started seeing the cloak cheat, then I saw the unlimited nade and rocket cheats pop up not long afterwards. The truth is the people making these cheats KNOW THEIR STUFF and discovering the algorithms implemented against cheats is second nature to them.
The only game I've played that didn't have cheaters is Shattered Horizon. Some say it's because not enough people played it to warrant developing cheat programs. I think it was because the Devs actually PLAYED the game (and still do!) and cared enough to tighten up the code when they felt it was necessary. If the Crytek Devs got involved with the MP I think the cheat exploits would be top priority (Cry-Adam says it is) and Crytek would employ a solid anit-cheat company to take care of it. They got rid of Punkbuster during the Crysis Wars days and I wonder if they might consider using them again.
The biggest problem faced is that the cheat developers are some smart monkeys who know how to code and, more importantly, decode software and they are hard to defend against. There's money to be made in providing their brand of poison.