iPhone has a serious security flaw, can leak your password within minutes

It seems that Android, Gingerbread to be more specific isn’t the only one that has serious security loopholes. iPhone has a security flaw of its own that one hopes will be taken into notice and fixed by Apple as soon as possible. German Researchers have come across an iOS exploit which allows them to steal passwords stored on your iDevice in six minutes time.

Here is the summarized version of this security flaw:

The attack, which requires possession of the phone, targets keychain, Apple’s password management system. Passwords for networks and corporate information systems can be revealed if an iPhone or iPad is lost or stolen, said the researchers at the state-sponsored Fraunhofer Institute Secure Information Technology (Fraunhofer SIT).

If your iPhone gets lost and gets into the hands of an informed hacker, your Google Mail and other MS Exchange accounts, LDAP accounts, voicemail, VPN passwords, WiFi passwords and some App passwords will no longer be yours. Let’s hope that Apple fixes this as soon as possible.

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[via PC World]