You read it right , high tech criminals in Europe are paying upto 25,000 Euros for Nokia 1100 manufactured in 2002 at Bochum, Germany plant , no it’s not the criminals are being patriotic as the factory had been closed down in Jan 2008 neither they want it to be part of their phone collection as one of the most successful phones ever sold topping 200 million units it’s the software vulnerability in this specific model’s firmware which makes it so valuable , the criminals can preprogram the phone to accept calls to a certain number which they can use to obtain sensitive information , in this case they are using it to intercept one-time passwords needed to complete an online banking transaction.
Russian , Moroccan and Romanian Gangs are being suspected to make use of this exploit and using it to access TAN’s ( Transaction Authenitican Number ) to access online bank accounts in Germany and Holland . These gangs are believed to have a thousands of usernames and passwords which they use to access the SMS code sent to the account holder’s mobile and gain access to the account and online transfer to their accounts .
Security Firm Ultrascan had been contacted by authorities to verify this and they are working on the problem so till the time they sort it out , take out your 1100 from your old phone collection , check if your phone is made in Germany and start posting ads in Europe before it gets too late .
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