Hackers are very interested in purchasing a Nokia 1100 because it can be used to access back accounts. They are prepared to pay thousands of euros for the device that appears to have a software problem enabling hackers to hack into online back accounts.

Recently, $22,500 were transferred from a Nokia 1100 phone, a candy bar phone that is one of Nokia’s top best selling handsets. The device was initially sold for approximately $120. Nokia has sold more than 200 million of the 1100 model.

In any case, hackers are not willing to spend big bucks on any Nokia 1100, only those manufactured in a factory at Bochum, Germany. These phones contain Nokia software made in 2002 that is vulnerable to tampering, writes PC Advisor.

As far as experts know, the phone can be used to intercept one-time passwords needed to complete an online banking transaction. Thus far, hackers managed to accumulate a large number of user names and passwords from banking accounts, especially in Germany and Holland.

The banks reply was to introduce a list of TAN codes for customers. The bank would request one of the codes to complete a transaction; however, people were tricked to reveal the codes. Now banks send a code by SMS to a person’s mobile.

Ultrascan Advanced Global Investigations now try to obtain a Bochum-made Nokia 1100 to further investigate the software problem.