Data recovery is now possible from Apple Silicon systems - at a cost

There are two kinds of people, Those that HAVE lost data from a system disaster
And those that WILL lose data from a system disaster. 
Have backups, have multiple layers of backup. I keep three,
One for Time Machine that is next to my system.
iCloud for particular critical docs.
And a third off site HDD that I bring home regularly and grab a copy of everything. 
And to be honest I keep wondering if I should have another one just in case.

DriveSavers is very good at what they do. But like an ER doctor, you shouldn’t put yourself in a position where you need their services.

JP234 said:

When you really, really, really need to recover data you stupidly didn't back up, DriveSavers is your best (and should be your only) choice. As a former service writer for an Apple-Authorized VAR, I personally had people come in crying their eyes out because they thought they'd lost their wedding, baby, or one-time photos. I've had companies come in with equipment damaged in fires and floods.

They all gulped when I told them what it would cost. Thankfully, DriveSavers bills the enduser directly, and gives resellers a commission. They provide free shipping both ways, and free estimates if data is recoverable. They have contracts with government agencies like the FBI, so you know your data will never be compromised by bad actors.

But in the end, just back everything up, people! you'll save THOUSANDS by never needing to use DriveSavers. They'll tell you the same thing.

Describe how they're breaking the encryption on the T2 chip. The data is encrypted using the user's password/Apple-ID but I imagine also something like a combination of the serial number, hardware and provisioning UUIDs and maybe even something else specific to the individual hardware (M1 or M2 SoC). To replicate this, they'd need everything used on the original Mac to encrypt data on the T2 chip and have a way to put that data into a test bed and hope it works. If they've found a back door or a bug, then Apple needs to patch it. The article is only talking about what's held in the M1, M2 and T2 chips and the storage area might be outside the normal T2 encryption although the T2 chip handles the encryption of storage.  

JP234 said:

But in the end, just back everything up, people! you'll save THOUSANDS by never needing to use DriveSavers. They'll tell you the same thing.

I don't backup anymore. I have all my relevant data in iCloud. Hopefully Apple doesn't screw up. 

“ I don't backup anymore. I have all my relevant data in iCloud. Hopefully Apple doesn't screw up.”

Ditto. I think cloud services has made backups a thing of the past. And Apple has too much riding on all their products. At some point, you have to move on and decide to worry about something else.

And if you don’t want to pay for cloud services, then you’ve made a decision, to be stuck in the past.