Also, with a simple padlock you know that it can be cut open pretty easily. So you're aware of the risks and the basic level of security it offers. This "smart"

Also, with a simple padlock you know that it can be cut open pretty easily. So you're aware of the risks and the basic level of security it offers. This "smart" padlock offers nowhere near the basic level of security you expect so you can't make a proper risk assessment. We had a similar thing a couple of years ago with bicycle locks (I'm Dutch). AXA, a well known manufacturer of locks offered a range of very sturdy bicycle locks. Hardened steel, almost impossible to crack open unless you spend some time with a big, noisy angle grinder. A lot of these locks were mandated by insurance companies, so they must be good, right? Wrong. A lot of these locks could be opened in seconds with just a blank (uncut) key. Which you could buy in bulk and not very hard to get hold of...