Looks like Google Wallet running on any rooted Android device is getting a little compromised. The reason why this only appeals to rooted devices is because the security PIN is stored on the device and not in an NFC element. Now although the PIN is encrypted, it would take someone who has found your phone to run a program to crack the PIN, which is pretty easily done with the right program. This is demonstrated in the video below.
How do you prevent anyone from cracking your Google Wallet? Well you can not root your device, (yeah like that is going to happen) or simply just make sure you have a number or pattern lock on your lock screen. Google is aware of this problem and will work to change how Google Wallet’s security infrastructure is set up in order to resolve this issue. This will move responsibility from Google to the banks that power the Wallet. That is a scary thought if you ask me. Check out the video below to see how simple it is to crack the PIN.
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[...] last night we posted up a story about how easy it would be for a person to jack your PIN on Google Wallet. The original story was focused on rooted devices only. Later, it [...]