Not at all. Why?
The chances of a hacker pinpointing me instead of one of the other millions of iPhones out there - make it millions to one against.
I don't rely on the built in password to protect sensitive data - I have a Wallet App for that.
I also have the option to remote wipe the device.
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Regards
Griph
iPhone 4 32GB Jailbroken and iPad 3G 64GB .
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