According to Hollywoodlife.com, the alleged photo is of Miley baring her lady bits to the camera. It's from her recent Maxim photo shoot.
You can click here to see a PG version of the picture).
We honestly think is does look like her but hey, you never know these days! Photoshop can do some miraculous things!
Do you think Miley should be concerned over the pic? Do you think it's her in the photo? Who do you think leaked it?
Let us know!
Gallery | Miley and Liam: Looking Good Keeping Us Guessing