A newly discovered bug in Apple’s iOS 5.0.1 software allows access to the contacts app and calling features of an iPhone, after bypassing the passcode entry.

This comes in according to website iPhoneislam, which claims to have discovered the flaw, which involves inserting and ejecting the microSIM card, which after a couple missed calls, lets you bypass the passcode and access the phone app.
In this case the attacker would have to know the victim’s phone number and have an iPhone microSIM remover pin to get the thing out that many times. A bit difficult to pull off as you can see in the video below, so not a major concern. No doubt Apple will fix this in the upcoming iOS 5.1 update.
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