A new major security hole has been found in iOS 4 for the iPhone that lets you access the contacts of a password protected iPhone without any hacking required.

How it works:

* Lock your iPhone with a passcode.
* Tap Emergency Call.
* Enter a non-emergency number such as ###.
* Next tap the call button and immediately hit the lock button.

It should open up the Phone app where you can see all your contacts, call any number, recent call history, send emails, etc.

Watch this video demonstrating the security flaw in action :

Bug no iOS 4.1 from Salomão Filho on Vimeo.

 However, try this fast as the bug will be fixed in iOS 4.2.