A team from Erlangen's Friedrich-Alexander University in Germany has figured out that by freezing a Galaxy Nexus to -10C and quickly connecting and disconnecting the battery the data scrambling system on Android 4.0 can be bypassed. You need a special software that the source article only attributes to this team, but the concept has been proven.
The reason for this is that:
Data fades from memory much more slowly when chips are cold which allowed them to grab the encryption keys and speed up unscrambling the contents of a phone.
The data scrambling system has been effective and created a "nightmare" for law enforcement, so this was done as a way to get around it.
This is something can also be done on PCs and laptops.
Source: BBC
