Street thieves on scooters and electric bikes increasingly snatch iPhones from pedestrians, prioritizing unlocked devices that fetch up to $800 more on the black market than locked ones.
Industrial-Scale iPhone Thefts Surge
Phone snatching operations have escalated to industrial levels in recent years. A major police operation in London resulted in 230 arrests and the recovery of over 1,000 stolen phones in just one week. Initially, safety concerns prompted officers to halt pursuits of fleeing thieves on two-wheelers. Authorities now authorize “tactical contact” maneuvers to safely stop suspects.
Unlocked Devices Unlock Higher Profits
Unlocked iPhones command a substantial premium because they provide thieves access to sensitive data and financial accounts. Even though banking apps typically require Face ID or passcodes, phishing schemes trick victims into revealing credentials.
“Phone thieves don’t just want the handset—they want access to bank accounts and personal information,” states Will Lyne, head of economic and cybercrime at London’s Metropolitan Police.
Lyne cites a case where four men handled more than 5,000 stolen phones and used linked financial accounts to make purchases.
Dan Guido, CEO and cofounder of security firm Trail of Bits and strategic adviser to mobile security firm iVerify, explains the value gap: “A stolen phone may only be worth $50 to $200 when it is locked. But if you unlock it, it’s worth $500, or it’s worth $1,000.”
Phishing Tools Fuel the Illegal Trade
Thieves employ advanced phishing tactics to bypass Apple’s Activation Lock. One law enforcement officer reported receiving a fake message mimicking Apple’s Find My page, prompting for the passcode to enable resale as a functional device.
Sophisticated phishing kits, such as “Find My iPhone Off,” operate on a pay-per-use basis. Software like iRealm generates fake Apple service pages, links, and scripts targeting Apple Pay. These tools, advertised with features like “Find My iPhone nullified,” proliferate on Telegram channels, offering seamless unlocking experiences.
Following inquiries, Telegram removed several groups promoting these illicit services.
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