How hackers are using iPhone passcode to steal money and data?

The passcode of 0iPhones is considered to be a very safe and protected mode to keep the device secured from anyone outside. The report stated, "With only the iPhone and its passcode, an interloper can within seconds change the password associated with the iPhone owner's Apple ID." "The thief can also often loot the phone's financial apps since the passcode can unlock access to all the device's stored passwords," the report added. An Apple spokesperson said that iPhone is the most secure consumer mobile device, and "we work tirelessly every day to protect all our users from new and emerging threats". "They then discovered thousands of dollars in financial thefts, including some combination of Apple Pay charges, drained bank accounts linked to phone apps and money taken from PayPal's Venmo and other money-sending apps," the report further stated.