Three German researchers from the FAU have cracked the password protection provided by iOS when enabling the “Hotspot” feature in under a minute. The auto-generated keys consisting of a combination of a short English words and a series or random numbers. The process starts with a word list is listed to around 52,500 entries. Once the testers are able to capture a WiFi connection, an AMD Radeon HD 6990 GPU is used to cycle through all those words with number codes. Further details can be found in the attached report.

Source: Department of Computer Science, Friedrich-Alexander University (PDF)