The $1,000 Problem: How Stolen iPhones Fuel a Criminal Ecosystem

Researchers have uncovered a thriving underground market where criminals profit from stolen iPhones using specialized unlocking tools and phishing attacks, with traffic to these services surging 350% annually. The dramatic value jump—devices worth $50-200 when locked but $500-1,000 when unlocked—incentivizes sophisticated criminal operations to circumvent Apple and Google's security measures. This expanding supply chain poses a significant threat to personal finance and data security, revealing a critical vulnerability even as major tech companies strengthen their protections.