OK, this is cool.
From BlackBag:
There has been quite some speculation about this video (YouTube) of a magnetic ring that is used to open some model of Uhlmann & Zacher lock. By now it is confirmed by the company itself the trick works. They claim a software update will fix the problem (and even log opening attempts).
The ring used in the video now has a name: ‘the ring of the devil’ and is already available on the market (just 25 euro!).
And the questions now are: What is in the ring, how does it work and what locks are affected?
Well … I have some answers. Saturday I received my own magnetic ring and can give you some details.
For the explanation be sure to read the full posting over on blackbag.
Article Link (via Schneier)