Nokia: We don’t know why criminals want our old phones

The mystery why European cybercriminals want a discontinued Nokia phone isn’t getting any clearer.

Hackers have been offering up to €25,000 ($58,000) in underground forums for Nokia 1100 phones made in the company’s former factory in Bochum, Germany. The phone can allegedly be hacked so as to facilitate illegal online banking transfers, according to the Dutch company Ultrascan Advanced Global Investigations.

Nokia said on Tuesday it is not aware that resale prices for a phone that retailed for less than €100 when it debuted in 2003 have risen so high. Further, Nokia maintains the phone’s software isn’t flawed. “We have not identified any phone software problem that would allow alleged use cases,” the company said in an emailed statement.

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