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Well, e2e encryption doesn’t give you any guaranty if the encryption and communication protocols are proprietary and you didn’t set the encryption key(s) all by yourself. Samsung could very well have the private keys to decrypt the data and give it to anyone they wish.
it’s symmetrical encryption so the pin code is the private key, (or er, the key’s derived from it)
but also Samsung still gets the network address of the repotting device which can be used to get approximate location