updated 03:47 pm EST, Thu February 6, 2014
Exploit blocked in iOS 7.1
A newly-discovered hack lets people disable Find My iPhone without first entering a password. Shown in a YouTube video (below), the exploit requires only making a few simple changes to a device's iCloud account. It's confirmed to work on iPhones and iPads running iOS 7.0.4, although it appears to be blocked in iOS 7.1, which is still in beta.
The issue is potentially serious, since it could prevent the owner of a stolen iOS device from locating it. The hack does leave Activation Lock intact however, and is useless if a thief can't get by Touch ID or a person's passcode. Given that the problem is solved in iOS 7.1, it's believed that Apple is already aware of the vulnerability.