Wow - this is pretty scary. Basically, almost ANY lock that uses the pin-tumbler design (like all our homes) can be opened with a $1 key (called a bump key) and a hammer. Imagine coming home to find ALL your stuff missing, with no signs of forced entry. And then having your insurance company not accept the claim because they think you left the front door open. Even worse, you can buy these pre-made bump keys online for almost any lock. Time to start using that alarm more often.
The Lockdown: Locked, but not secure (Part I) - Engadget
Also here (check out the embedded video clip) :
Bump keying: $1 keys open any lock - Engadget
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