Not long ago, it was discovered that “jailbroken” iPhones (ones said to be unlocked and “free” to use cell phone networks other than AT&T) are vulnerable to attack. It seems that remote connectivity is enabled and that the root (administrator) password is set to a default…a known default.
Even more recently, it was discovered that there are viruses circulating where these iPhones are being taken over remotely. Researchers believe that the purpose is to steal bank account info when users access banking sites. They are redirected to a fake site that looks like the one they were going to. The fake site is controlled by hackers.
Unlocking your iPhone is not advisable. Jailbroken phones cannot get Apple updates. Additionally, locked phones are limited to the applications that can be installed on an iPhone…for a reason. They are tested and verified for quality control.