iPhoneislam have posted a video on a serious iOS 5 security flaw that allows anyone to bypass the pin code unlock screen, allowing access to recent calls, favourites, contacts and voicemail.
It’s actually a bit tricky to replicate but it does exist, all you have to do is wait for a recent missed call then slide to reply; take out the sim; dismiss the warning; replace the sim and then slide to reply again whilst the phone is searching for the network. If you get it just right the iPhone will open up the phone app on screen and you’ll be able to see all of the information.
This obviously is not as easy as the last security flaw (the four zeros), but as it exists it means that we’re all susceptible to it if we lose or have our iPhone stolen from us.
If you want to try it then follow the video above, it may take some time but eventually it’ll work.
NB.// be careful, we hold no responsibility for any damage that may be caused to your iPhone or SIM card, you do this at your own risk.

February 20, 2012
GIRG

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So does this work with the 4S on a CDMA network without SIM?
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Good point, probably not unless you can mess around with data with sbsettings. try that and let us know. I don’t have access to a CDMA phone so I don’t know. SoSly might be able to do it.