German engineering firm Fraunhofer hacked an iPhone 4 by passing all the security measures with utmost ease in a less then 2 minutes shown in a video.
You can imagine what somebody can do to your iPhone if they get a hold of it, even for less then 5 minutes! They can access your saved logins, passwords, WiFi network information and a whole lot more. The device used in the video is an iPhone 4 running iOS 4.2.1 with no jailbreak. The video uploaded clearly defines the procedures in 5 steps.
Step 1: Jailbreak the device.
Step 2: Get access to the file system.
Step 3: Copy a keychain access script on the device.
Step 4: Execute the script to reveal security with the help of system function.
Step 5: Your secrets are available.
Take a look at the video presented by the engineering firm.