Google Wallet, which initially launched in September of 2011, has decided to temporarily suspend its provisioning of prepaid cards as a result of two newly discovered security vulnerabilities. Recently, a security research team uncovered a potential threat to the overall security of the Google Wallet.
The initial issue, which revealed that a brute-force attack could reveal a Google Wallet user’s pin, was discovered by researchers at the security firm Zvelo Labs.While the first vulnerability could theoretically place Google Wallet users at substantial risk, it is not an easy security hole to exploit. In order for the hacker to make payments using a stolen account, they would have to physically possess (steal) the user’s phone, install the Cracker app, and install a piece of malware to disable the phone’s security system. Even after all of these steps are completed, the hacker will not have access to the credit cards and will have to use the stolen phone to make charges.
Read this full article at Search Engine Journal
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