If your iPhone is lost then attackers can retrieve passwords in 6 minutes.
A group of coders from Germany have found a flaw in the iPhone password security system. If your iPhone is lost then attackers can retrieve your iPhone password in just 6 minutes.
The process includes jailbreaking the locked iPhone. The iPhone can be jailbroken using any method ( GreenPois0n, RedSn0w, PwnageTool, Limera1n) and then running the exploit code through SSH Server. This gives access to the iOS keychain which contains all user information such as emails, Wi-Fi and all passwords. Attackers can see all your logins with all passwords of any website that you have visited on your iPhone.
Please see the video of finding iPhone passcodes, though some codes are hidden in the video to avoid piracy.
Disclaimer: The article is just meant for Educational Purposes.