The attack is simple: the attacker downgrades the phone to a version of firmware that has a vulnerability. The attacker then uses the vulnerability to get at your data. Your data is PIN-protected? The attacker uses the vulnerability to disable the PIN lockout and tries all of them.
There's over a 10x difference in fence price between a locked and unlocked phone. That's a significant incentive/deterrent.
There's over a 10x difference in fence price between a locked and unlocked phone. That's a significant incentive/deterrent.