news via modmyi

German researchers have come froward with a public warning: If someone steals your iPhone and jailbreaks it, they may be able to retrieve your sensitive passwords. As a result, the "Fraunhofer Institute Secure Information Technology" team has released a new video showcasing the perceived "security threats" posed by jailbreaking, a situation in which an "attacker can retrieve passwords in 6 minutes."

The video demonstrates a password-locked iPhone tethered to a computer via USB. Following a snappy jailbreak, the hoodlum taps into the device's filesystem and nefariously copies a keychain access script. When executed, the script enables all the passwords stored on the iPhone to be viewed after extraction. This "flawed security design" - which affects all iPhone and iPad devices containing the latest firmware - makes all of the above possible without the need... [Read More]