The Smartphone Champ has revealed a simple hack that can provide access to all of the funds of a Google Wallet user -- it's far easier than a method of cracking the Google Wallet PIN that was revealed earlier this week.

"[The] hack doesn't require extra software, root access, or any particular skills in general," writes CNET News' Lance Whitney. "Instead, all someone apparently has to do it clear the data for the Google Wallet app in the smartphone's application settings menu. The app is then reset and will prompt the person to enter a new pin number the next time it launches."

"Since the Google Wallet information is linked to the device and not to the actual account, a person can then use the Google prepaid card already tied to the device to gain full access to the owner's funds, explained The Smartphone Champ," Whitney writes.

For more on this story, go to Google Wallet Hack Raises Concerns Over Mobile Payment Security.

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