Losing your smarpthone is bad enough. But if you lose your iPhone and don’t issue a remote wipe command (available for free with the Find My iPhone app ) then you could find yourself in a world of hurt. Researchers at the Fraunhofer Institute Secure Information Technology (Fraunhofer SIT) can jailbreak and decrypt passwords from the iPhone’s keychain — for say, your Gmail account, corporate VPN, home WiFi, and MS Exchange — in about six minutes using existing, known exploits. Sorry kids, your flimsy lockscreen passcode won’t help. Video proof, after the break. Continue reading Researchers steal iPhone passwords in six minutes (video) Researchers steal iPhone passwords in six minutes (video) originally appeared on Engadget on Thu, 10 Feb 2011 06:16:00 EDT. Please see our terms for use of feeds . Permalink