The custom-built version of iOS 5.0.1 re-released for the iPhone 4S earlier today by Apple features an accessible encryption key, allowing hackers the ability to browse the file system and examine code without pirating the software. A tweet from iOS hacker MuscleNerd revealed that the file system could be easily perused from a Mac or PC, calling it "wide open" (though he later qualified that he meant for examination rather than security).
