Google Wallet Has A Security Hole; Prepaid Cards Disabled

Google has temporarily stopped issuing prepaid cards for #-Link-Snipped-#. The step is taken as the result of a report published in #-Link-Snipped-# saying that anyone can reset the wallet data without knowing Peresonal Identification Number (PIN), which is used to protect the app.
#-Link-Snipped-#
Google Wallet Chief, Osama Bedier said in a #-Link-Snipped-# on Saturday, “To address an issue that could have allowed unauthorized use of an existing prepaid card balance if someone recovered a lost phone without a screen lock, tonight we temporarily disabled provisioning of prepaid cards”. According to the report this flaw doesn’t need any root or unlocking software. The user just needs to have access to your unlocked phones. The intruder can go to your application settings and clear all the data for #-Link-Snipped-#. Now, when he will open it next time, the device will prompt him to set a new PIN, and he will have complete access to your Google Wallet account. Google Wallet accounts are tied to device not to the users Google account, hence the data clearing works.

Though threats have been discovered in Google wallet before, but they were mostly in rooted devices. But this data-clearing hole also works on non-rooted devices, which makes it highly vulnerable in stolen phones. As the official blog says, "We took this step as a precaution until we issue a permanent fix soon.” So, wallet users may have to wait for some time for the service to start again.

Users having problem can post their queries on #-Link-Snipped-#

Source: #-Link-Snipped-#