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Xiaomi Phone Bug Allowed Payment Forgery

Smartphone maker Xiaomi, the world’s number three phone maker behind Apple and Samsung, reported it has patched a high-severity flaw in its “trusted environment” used to store payment data that opened some of its handsets to attack.

Researchers at Check Point Research revealed last week in a report released at DEF CON that the Xiaomi smartphone flaw could have allowed hackers to hijack the mobile payment system and disable it or create and sign their own forged transactions.

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