iPhone Passcode Can Be Used To Steal Your Money, Data? This Is How Hackers Are Exploiting iPhone Passcode!


Rohit Kulkarni

Rohit Kulkarni

Mar 04, 2023


The passcode that iPhone users use to unlock their devices is now making it simple for thieves to steal their data and money in public areas.

iPhone Passcode Can Be Used To Steal Your Money, Data? This Is How Hackers Are Exploiting iPhone Passcode!

Use of low-tech trick:

The Wall Street Journal claims that thieves watch iPhone owners tap their passcodes as they steal their targets’ phones and digital lives using a remarkably low-tech trick.

A 31-year-old senior economist at a workforce intelligence startup had her iPhone 13 Pro Max stolen from a bar in Midtown Manhattan. She lost all the photos, contacts, and notes on the device, and within a day, about $10,000 had disappeared from her bank account.

As per the report, a trespasser only needed the iPhone and its passcode to quickly change the password for the iPhone owner’s Apple ID. This would prevent the victim from accessing their account or any iCloud data. “The thief can also often loot the phone’s financial apps since the passcode can unlock access to all the device’s stored passwords,” it added.

The software offers an option to force other Apple devices, like Macs or iPads, to sign out of the Apple account after the password change is complete, preventing the victim from using those devices to regain access.

Before setting a new password, the Apple software never asks the user to enter an older one. The new password will allow the burglar to turn off Find My iPhone. The ability to turn off Find My iPhone also enables the thief to sell the stolen iPhone.

Apple’s response on these incidences:

As Apple spokesperson said that iPhone is the most secure consumer mobile device, and “we work tirelessly every day to protect all our users from new and emerging threats”. “We sympathise with users who have had this experience and we take all attacks on our users very seriously, no matter how rare,” the spokesperson was quoted as saying.

“We will continue to advance the protections to help keep user accounts secure.”

Nearly all the victims had their iPhones stolen while they were out late at night socializing in public places, pubs, and bars. In each case, the iPhone owners’ access to their Apple accounts was blocked. 

“They then discovered thousands of dollars in financial thefts, including some combination of Apple Pay charges, drained bank accounts linked to phone apps and money taken from PayPal’s Venmo and other money-sending apps,” the report elaborated.

The same flaw exists in Google’s Android mobile operating system, but iPhones are “a far more common target” due to their higher resale value, according to law enforcement officials. 

“Our sign-in and account-recovery policies try to strike a balance between allowing legitimate users to retain access to their accounts in real-world scenarios and keeping the bad actors out,” a Google spokesperson was quoted as saying.

Apple recently made it possible to secure the Apple ID using hardware security keys, which are tiny USB dongles.


Rohit Kulkarni
Rohit Kulkarni
  • 1130 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Technology
Sep. 8, 2022

Samsung Launches The Wall All-In-One and Flip Pro: Is This The Future Of Display Technology?

Samsung has launched The Wall All-In-One – the modular MicroLED it says is revolutionizing the future of display and the Flip Pro, which is an interactive display. Both were unveiled at the InfoComm India 2022 which is India’s Professional AudioVisual (Pro AV) and Systems Integration Technology Exhibition. This took place in Mumbai from September 5-7. […]

Technology
Jul. 28, 2022

Google Street View Launches In India Across These 10 Indians Cities! Plans To Expand To 700,000 Kms, 50 Cities In 2 Years

Google’s Street View is finally available in India a decade after it was prevented from capturing data for its Street View services. Second coming Street view offers a 360-degree interactive panorama feature initially for 10 Indian cities with data from local partners Tech Mahindra and Mumbai-based Genesis International. Its entry into India is facilitated by […]

Technology
Jul. 10, 2022

This Electricity-Free Cooler Developed By IIT Researchers Can Replace Air Conditioners! How It Work?

Indian Institute of Technology Guwahati researchers have built a ‘Radiative Cooler’ which does not require electricity to operate. This is an affordable and efficient ‘passive’ radiative cooling system that can serve as an alternative to ACs. The coating material is an electricity-free cooling system that can be applied in the rooftops and functions during both […]

Technology
Jun. 27, 2022

This New Battery Will Enable Electric Cars To Run 1000 Kms In Single Charge! Will This Transform Electric Mobility?

Chinese company Contemporary Amperex Technology Co Ltd (CATL) has developed a battery that gives EVs a driving range of over 1,000 km or 621 miles on a single charge. About the company The company is China’s leading automotive lithium-ion battery maker. Tesla, Volkswagen, BMW, and Nio are among the companies for which CATL supplies batteries. […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online