Fair question, I think some folks used old iphones as a hardware wallet to store their crypto.
With this new hardware wallet hacks/leaks people who were considering using old iphones to store crypto should rethink again.
The vulnerability has been known for months, this is nothing new, the first major DarkSword spread happened 6 months ago and there is a patch for that for every iPhone since April!
Now, unless you go and download stupid things from shady websites or you open attachments you received from strangers in you emails, you're safe.
Somebody who uses this strictly a hardware wallet and not for day-to-day phone browsing, everything is safe.
CMIIW, but even if the iOS is exploited, shouldn't the wallet data remain secure, assuming it's encrypted with user PIN or password?
Not really, depends how that data is stored:
https://slowmist.medium.com/threat-intelligence-analysis-of-the-darksword-trojan-backend-and-ios-attack-chain-397ecf499fa8Its capabilities range from routine collection of camera, microphone, photo library, contacts, SMS, Wi-Fi passwords, and location data to Keychain and iCloud token extraction, clipboard reading and hijacking, foreground app monitoring, shell command execution, persistence installation, SOCKS5 proxy setup, DNS-based exfiltration, and eventual self-destruction.