Samsung’s Galaxy S10 – regarded as a revelation in the crypto space thanks to its built-in cryptocurrency wallet – has already had one of its security measures breached, placing all stored funds at risk.
Earlier this year, rumours surfaced that Samsung was planning to release a mobile smartphone with a built-in cryptocurrency wallet.
It didn’t take long for the crypto community to feel the buzz, particularly when it was confirmed that Samsung had entered a partnership with Enjin – one of the leaders in the crypto and blockchain gaming space.
But despite the hype surrounding the integration of a crypto wallet into Samsung’s flagship Galaxy smartphone, a new video has been uploaded to imgur showing how easy it is to hack the phone’s fingerprint scanner, allowing criminals to gain access to any crypto stored on the phone.
The Galaxy S10 can be broken into in less than 15 minutes
The creator of the video has used a 3D printer and a pair of gloves to effortlessly bypass the biometric fingerprint scanner on the Galaxy S10.
He notes: “It took me three tries to get the right ridge height (and I forgot to mirror the fingerprint on the first one) but yeah, third time was the charm.
“The 3D print will unlock my phone… in some cases just as well as my actual finger does.”
He states this raises ethical concerns as there is nothing stopping him (or anyone who can recreate the process) from stealing somebody’s phone and using printing gloves with their fingerprints to unlock the phone and commit a crime.
“If I steal someone’s phone, their fingerprints are already on it. I can do this entire process in less than three minutes and remotely start the 3D print so that it’s done by the time I get to it,” he writes.
He also raises the issue that many banking applications only require fingerprint authentication, and as such he could seamlessly obtain access to users’ bank accounts in “less than 15 minutes” if the phone is only secured by fingerprint security measures.
Stored crypto could be at risk
This exploit poses a significant threat to users who are intending to store crypto on the Galaxy S10. While it is safer to use a hardware wallet or paper wallet to store crypto, many may want to use the S10 for its added convenience.
The issue will be particularly troublesome for those who are not well versed in locking down their crypto security measures. If they store their private key on the mobile device as well, a person with ill intentions could easily break into the phone and steal all of the crypto stored there.
The hope is now that Samsung is made aware of this flaw and adds additional security measures such as two-factor authentication, but in the early days of the S10, it doesn’t look promising as a method for storing crypto.
Interested in reading more about the Galaxy S10’s crypto wallet integration? Discover more about the pros and cons of having a crypto wallet built into a smartphone.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.