Can you steal $10,000 from a locked iPhone?

The video demonstrates a sophisticated cybersecurity attack where researchers successfully steal $10,000 from MKBHD's locked iPhone without him ever unlocking it or authorizing the transaction. The hack was developed by University of Surrey professors and works through a man-in-the-middle attack using NFC devices. The attack specifically targets iPhones with Visa cards in Express Transit Mode, exploiting three key vulnerabilities. First, they trick the phone into thinking it's communicating with a transit terminal by broadcasting the appropriate code, bypassing the lock screen. Second, they modify transaction data to make a $10,000 charge appear as a low-value transaction, avoiding customer verification requirements. Third, they alter the response to make the card reader believe the customer has verified the payment. The hack requires specific equipment including a Proxmark NFC device, laptop with Python scripts, and a burner phone, but the underlying vulnerability has been public knowledge since 2021. Apple points to this being a Visa system issue, while Visa argues the attack is unlikely to scale in the real world and that their zero liability policy protects customers. However, the researchers and narrator argue that technical prevention would be better than after-the-fact refunds, comparing it to airline safety standards where crashes are prevented rather than just compensated.