Jailbreaking iPhone will open up your iPhone to install apps that Apple did not approved. It removes the Apple's content restrictions. According to Eric Monti, a Senior Researcher at Trustwave's Spider Labs, it will open the door to mobile malware. You need to think twice before you jailbreak your iPhone or iPad.
Hi-lights
hackers to "jailbreak" iPhones and iPads from Apple's content restrictions could be used to push rootkit-style malware onto those devices and intercept credit card data from an iPhone-based transaction.
Monti designed a proof of concept iPhone rootkit, dubbed "Fat" by modifying the original jailbreakme code to create a stripped down remote monitoring application.
mong other things, the researcher removed system prompts created by the jailbreakme app and added a rootkit feature to remotely control such key iPhone features as the microphone, camera and geolocation services, as well as SMS
Monti used a free iPhone credit card transaction reader,"Square," on a rooted iPhone, showing how magnetic stripe data could be silently siphoned by the rootkit
It is always safe not to jailbreak your iPhone. If you really want to then do it on your own risk and may be it is a good idea to use a testing phone or avoid giving out sensitive information such as banking and credit card details.
Source: threatpost.com
