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The Bluetooth connection of iPhones with peripherals such as speakers, headphones or sound equipment imply risk for the user's privacy as these elements could extract private information from the iPhone, without the user being aware of it.
The hack or trick puts users privacy at risk. The iOS configuration does not notify the profile change and allows the execution of the functions and actions associated with the new profile, so that the users' data are at risk of being stolen by a potential attacker.
I this paper, there are information about how a DrityTooth Hack can be done. More info at http://www.dirtytooth.com