Apple iPad 2 Smart Cover Security Flaw Fixed in iOS 5.0.1
We earlier wrote about how the iPad 2′s Smart Cover can unlock the device even without entering the passcode. The security flaw will be addressed by Apple in the upcoming iOS 5.0.1 release.

Apple’s Smart Cover for the iPad 2 is so smart that it can wake up your device by just opening the cover. While that’s convenient, it also leads to a security flaw. A few simple steps can let anyone with a Smart Cover (even if it’s not yours) open the device and access your Mail, Calendar, Contacts and other data.
Apple’s upcoming iOS 5.0.1 update will solve a few bugs and glitches in the first iOS 5 release, which includes improved battery life in the iPhone 4S, speech recognition updates, and a few security fixes, as earlier reported by our executive editor Chris Smith. Among these security fixes is an improvement on the way the iPad 2 handles Smart Cover unlocking.
9to5Mac has tested the beta release of iOS 5.0.1, and discovered that Apple will be including this among the security updates. With the upcoming iOS update, the iPad 2 will no longer go to sleep when the Smart Cover is closed while on the Power Off menu. This way, the user cannot just unlock the device by pressing “Cancel” in the power-off menu, which was the source of the original security flaw.
The said Smart Cover security flaw is prevalent in iPads running iOS 5, although some users have also reported experiencing the same problem with iOS 4.3 and earlier. Apple will reportedly roll out the iOS 5.0.1 update in the next few weeks, so if you’re already on iOS 5, or even if you’re holding off on updating pending security and bug fixes, this will be an update you should not miss.
Credit: Source.Security Flaw In iOS 5 Difficult To Actually Use, But If Done Properly Opens Up Your Contacts List & More To Prying Eyes
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In other words hold off on releasing the untethered Jail Break boys…
On a side note, why does the iPad only offer 64gb of storage? It is a video device and even the iPhones have 64gb. That was a deal breaker that stopped me from upgrading to iPad 2 and it will stop me from getting a 3 too… 4 core and 128gb or 4 core and SD slot or I am not upgrading! You listening Apple?