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It's not possible to update via OS, not from the perspective of the firmware. No one said the baseband can't receive a firmware update pushed via a cell phone tower, etc. No one said there is verified boot for it. No one said they picked components with security support.
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It's not specific to the baseband. It applies to the SoC and the other components. It's also not untrusted in any sense. As a general rule, Linux kernel drivers trust hardware components. You seem to be falling for the false dichotomy of DMA vs. non-DMA being about isolation.
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Components with DMA can be untrusted, and often are, due to usage of IOMMUs. Components without DMA can be trusted, and often are, due to their role in the design of the device along with the design / implementation of typical drivers trusting the hardware that they support.
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When someone writes a driver for hardware, they're rarely treating that hardware as an attacker. Wi-Fi, much like a cellular baseband, also runs a large RTOS requiring substantial hardening, auditing and regular security updates. You don't get that with these components.
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If you're simply going to hand an attacker persistent local code execution on a Wi-Fi / Bluetooth / Cellular SoC you're trusting them with direct access to the kernel driver and other code supporting the device from the OS. It's a whole lot more than that too. What about privacy?
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How are you going to have privacy if you have radios that are broadcasting their vulnerability and can be persistently compromised through known, public exploits? Even without taking control over the OS from there, they have unique hardware identifiers + can track location, etc.
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Which radio? All of them? This applies just as much to Wi-Fi and Bluetooth as it does to a cellular radio. They are not substantially different in implementation. Each of these radios is implemented with a substantially large RTOS with a lot of attack surface and complexity.
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They can do fine-grained location tracking of the device based on nearby Wi-Fi networks and/or cell phone towers and/or Bluetooth devices. They can also do side channel attacks even without trying to exploit the kernel. They can wait until there's a known driver vulnerability.
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They've got a persistent, local compromise of the device. It's similar to an attacker having a persistent local compromise of a component in the OS. You've already lost your privacy at that point since you're having your location tracked + there's a local attacker for the kernel.
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