On second though, it might be applicable on non-jailbreaked with Touch ID/passcode (to enable encryption) iOS devices, even though it could be broke with NAND mirroring attack
It is
rumored this is how the FBI was able to hack into an iPhone 5c in 2016, although it is unclear if this is the case. I believe it was said at the time that newer versions of the iPhone were not vulnerable to the specific exploit used in the 2016 case.
It has been
claimed that "security" companies can unlock newer iPhone models running the latest version of the iPhone OS. I don’t think there is strong evidence to support this being true.
Based on my reading, a NAND mirroring attack will slow down any attempts to brute force a password to about 45 seconds per 10 password attempts. Although this would not entirely stop a brute force attack, it would make it less appealing if you are not sure of the value of the coin. With an 8 digit numerical PIN, it would take about 17 months to brute force at this rate, and the attacker would need to have continuous access to the device, giving the owner of the device to realize the device is compromised and move the coin with backups.