The problem if someone has hacked your WEP "protection" is that they can easily then sniff your network traffic, look at your browsing, gather passwords ... your bank account details .... etc, etc, etc.
When they break the locks and get in your car they can steal the car and what's in it. When they break your WEP (unprotected) network they can steal whatever you are accessing and that can mean your identity, and really screw up your life. This sort of crime will increasingly be seen.
WEP is not worth the useless algorithms it is based upon
CrazyB


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