Experts working at the University of Birmingham and the University of Surrey in England have identified a critical vulnerability that puts iPhone owners’ wallets at risk. This vulnerability makes it possible for a hacker to transfer money with Apple Pay without even unlocking the iPhone. The vulnerability, which endangers only those who use Visa, does not affect Mastercard users.
According to research by cybersecurity experts, the vulnerability allows money to be transferred up to £1,000. Using the “Man-in-the-Middle Attack” (MITM), one of the popular methods of the hacking world, hackers are able to empty the bank accounts of consumers without even knowing it.
No one acknowledged the vulnerability
Cyber security expert Andreea Radu, who made a statement on the subject, stated that they reported the vulnerability to both Apple and Visa, but no one took this shortcoming. “The unwillingness of both parties to accept responsibility and correct their mistake causes serious problems for users,” said Radu, and urged the parties to find a solution as soon as possible.
“Visa takes all security threats very seriously and we are working tirelessly to strengthen payment security across the ecosystem,” said Visa, one of the parties of the vulnerability, in a statement. If so, they should disable it.” He underlined that users are at risk.
If you want to see for yourself how the vulnerability in iPhones is exploited, you can watch the video in the link here.
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