You would possibly recall that again in June, it was reported that iPhone thieves in Brazil discovered a extra profitable cause to stealing iPhones. They weren’t stealing iPhones simply to resell them, however moderately they have been stealing iPhones and utilizing it to get into the financial institution accounts of their victims, probably netting them extra money than reselling a stolen telephone.

However, there was the query of how they have been doing it? According to a report from Folha de S. Paulo, we’d have came upon how. This is in accordance with the police who arrested one of many gangs concerned and apparently they’ve shared how they go about breaking into the financial institution accounts of their victims, even claiming that this method works throughout the iPhone 5 as much as the iPhone 11.

So mainly the way it works is that they take the SIM card out of the iPhone and put it into one other telephone. They then scour social media for the e-mail tackle of the individual whose telephone they stole, and since normally it finally ends up being the identical e mail tackle used for Apple ID, they then reset the Apple ID password through a telephone quantity.

With the newly created password, the thieves can then entry iCloud Keychain to seek out out the passwords the consumer has saved on their gadgets, or in some instances, some customers even retailer passwords within the Notes app. It’s truly a surprisingly simple course of that makes use of methods which can be already in place, versus different hacking strategies that might require extra {hardware}.

That being stated, following the earlier report, Apple acknowledged that they are going to be making it simpler for customers to erase a stolen iPhone, though they didn’t element how.

Filed in Apple >Cellphones. Read extra about iPhone and Security. Source: 9to5mac