From TechNewsWorld:
A flaw in the kernel of the Samsung processor at the heart of several Galaxy series devices allows access to the phone's RAM. It looks as if Samsung downplayed security in setting up permissions for kernel access, said Carl Howe, research vice president at the Yankee Group.
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The flaw, which is a bug in the Exynos 4 series' kernel, affects only devices running the Exynos 4210 and 4412 processors. These include the international versions of the Galaxy S III and Galaxy Note, and Galaxy Tab 2 and Galaxy Note 10.1.
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The flaw gives access to the device's RAM. This will let a malicious user download the contents of an affected device's RAM and examine them. It will also let malicious users upload new processes of their own. In theory, a malicious app concealing this exploit can root a victim's phone on the sly and send data on the phone to third parties, for example.
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Such apps could be downloaded from Google Play, warned Alephzain, the hacker who discovered and posted the information on the XDA Developers Forum.