Hackers paying thousands for discontinued Nokia 1100 handsets …
Something rather unusual is happening in the world of old mobile phones. Nokia’s discontinued, cheap, low-end 1100 model phone is selling for as much as $32,413 per handset.
The high-prices these phones command have been observed by investigation company Ultrascan Advanced Global Investigations (UAGI). The prices went up around 6 months ago for the $129 phone and slowly escalated to $400, $10,000, $13,000, and then finally a jump to over $32,000 last week. It was also discovered that not just any 1100 handset from the 200 million shipped during its lifetime were commanding the high price. Only handsets made in Bochum, Germany qualified.
So why such an interest in the cheap old phone, and why handsets made in Germany? UAGI found out by way of an informant. Apparently the Bochum, Germany models have a software flaw that can be exploited to allow online bank account security to be circumvented. Therefore the handsets have become very desirable to certain criminal groups; specifically Russian, Moroccan, and Romanian groups are buying up the phones.
The exploit allows the 1100 handset to be setup to receive calls to any phone number. In countries like Germany and Holland online bank accounts use an SMS message to send what is known as a TAN code for authentication. Armed with the 1100 a criminal can use stolen bank details and a phone number associated with an account to gain access to that account. Passing the TAN code check is done with the Nokia 1100 and then the criminal has full control and can start withdrawing money.
Read more at PC World
Matthew’s Opinion
Everyone wonders what old stuff they have in their houses that may one day be classed as an antique and command a lot of money. But I doubt anyone thinks their mobile phone falls into that category. The Nokia 1100 seems to be the exception and if you have one gathering dust in a cupboard and it was made in Bochum, Germany you may want to stick it on eBay.
However, in trying to sell your handset you would be aiding criminal activity and although you may not get into trouble for the sale, just keep in mind the type of person buying it from you. If you want to be helpful instead, send the phone to UAGI who are trying to source one at the moment to verify the exploit. I’m sure they’d be happy to compensate you.
I remember being quite impressed when I got an automated phone call from my bank to verify who I was and where i lived a few years ago. But it seems like even that system has been figured out by criminals with the right hardware.
Za` End !