Google Wallet PIN cracked on rooted Android devices | Do The Robot | Scoop.it

The security of the PIN that protects Google Wallet transactions has been compromised — though most users won't need to worry about the issue for now, as it only applies to users who have rooted their Android smartphone. The key issue is that the PIN is stored on the device itself instead of in the secure NFC element, although it is in an encrypted format. That means that if your Android smartphone is rooted, if somebody takes your phone, he or she will be able to access the encrypted file that stores your PIN. From there, it's a relatively simple matter of running a program that uses a brute force method to guess your PIN.