As mobile blog The Smartphone Champ explains, the newly exposed security hole allows someone to simply reset a user’s Google Wallet password by clearing the Google Wallet application data from within the phone’s settings menu. A user’s Google Wallet PIN is not required to wipe this data and once the information has been cleared, the handset will prompt the user for a new PIN without first requiring that the old PIN be entered. Anyone who performs this simple procedure will be able to access funds on the original user’s Google prepaid card.
A Google spokesperson acknowledged the vulnerability and gave the following statement to Android and Me: “We strongly encourage anyone who loses or wants to sell their phone to call Google Wallet support toll-free at 855-492-5538 to disable the prepaid card. We are currently working on an automated fix as well that will be available soon. We also advise all Wallet users to set up a screen lock as an additional layer of protection for their phone.”
A video demonstration of the simple hack follows below.
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