Facebook allows its authentication 
credentials to be stored in plain text within the Apple iOS version of 
its mobile app, allowing an attacker complete control over your Facebook
 account if he knows where to look.
Security researcher Gareth Wright noted the vulnerability and alerted Facebook. Wright wrote
 on his blog that he discovered the issue while exploring the 
application directories in his iPhone with a free tool and came across a
 Facebook access token in the Draw Something game on his phone.
The simple ‘hack’ allows a user 
to copy a plain text file off of the device and onto another one. This 
effectively gives another user access to your account, profile and all 
on that iOS device.
Facebook’s native apps for the two 
platforms not encrypting your login credentials, meaning they can be 
easily swiped over a USB connection, or more likely, via malicious apps.
 Facebook has responded that this issue only applies to compromised or 
jailbroken devices.
"My
 jaw dropped as over the next few minutes I watched posts appear on my 
wall, private messages sent, webpages liked and applications added," Wright wrote. Wright said that he harvested over 1,000 plists over the course of a week, although he copied no data.
As for the USB connection 
scenario, Facebook says there’s no way to fix this problem. Note that in
 this case it doesn’t matter if your device is jailbroken or not, 
because whoever is doing the deed has physical access to your phone or 
tablet.
Facebook said in a statement that the modifications made to the phone were responsible for exposing the data:
Facebook's
 iOS and Android applications are only intended for use with the 
manufacture provided operating system, and access tokens are only 
vulnerable if they have modified their mobile OS (i.e. jailbroken iOS or
 modded Android) or have granted a malicious actor access to the 
physical device. We develop and test our application on an unmodified 
version of mobile operating systems and rely on the native protections 
as a foundation for development, deployment and security, all of which 
is compromised on a jailbroken device. As Apple states, "unauthorized 
modification of iOS could allow hackers to steal personal information 
... or introduce malware or viruses." To protect themselves we recommend
 all users abstain from modifying their mobile OS to prevent any 
application instability or security issues.
Wright called Facebook's statement "rubbish," adding that the vulnerability is present on both jailbroken and non-jailbroken phones.
 
 
 
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