A new security flaw has been found in iOS 5.0.1. It gives external users access to the phone app of a pasword-protected iPhone, and also grant them access to the contact list.
As you can see, it involves a hack, after removing and inserting the SIM card, to be able to take advantage of the flaw.
We have been able to successfully reproduce the hack with an iPhone 4 running iOS 5.0.1. For sure Apple will be patching this flaw in a forthcoming update.
