Are There I CLass Security Issues? If So, Where And How Bad?

Was perusing around the Internet to learn a little more about iClass and came across some articles about iClass credentials being cloned and sniffed similar to how older 125khz prox is. Came across this one particular site discussing it indepth.

http://www.openpcd.org/HID_iClass_demystified

It seems the problem in this case was the way HID stored master encryption keys on their readers. The information though seems older, so I was wondering is this still an issue, or as serious an issue as the insecurity of 125khz prox when iClass is supposed to be much more secure. Are 3rd part iClass readers (non-HID) supposed to be more secure? Granted, nothing can or should be considered impenetrable.

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