The PIN is most likely for WPS.
It's the one-touch setup, or PIN entry (usually 8 digits or so), method to connect devices to your network. Now, it being a hardcoded pin is a huge security flaw, so you should just disable WPS if you can. Otherwise, there are tools out there that can use that PIN to authenticate with the router using brute force, and the attacker would then have access to your network (because it's authenticated with the WPS PIN, it gives the network key... so even if you change the network key, the attacker just has to run the tool and get the new network key (and knowing the PIN now, since it doesn't change, this will take seconds instead of hours).