The Don't Panic case strap contains a rectangular magnet. While this is one of the key features that makes the case so versatile, you should also be aware that magnets can cause data loss when brought into contact with magnetic media such as floppy disks, credit cards, magnetic I.D. cards, cassette tapes, video tapes or other such devices. They can also damage televisions, VCRs, computer monitors and other CRT displays.
If brought into contact with a computer hard drive this magnet can also cause damage. This does not apply to your iPad because it contains a solid state hard drive, which is not susceptible to magnetic fields. Similar types of devices containing solid state drives such as Macbook Airs, or most mobile devices such as iPhones and iPods are similarly not affected.
Lastly, the magnetic fields of a magnet can affect the operation of pacemakers or similar devices, so they should not be brought into contact with people using pacemakers.
This is not as scary as it may sound. The creators of the Don't Panic case, as well as a number of early-adopters and testers, have had almost no problems in regards to the magnetic properties of the case strap. One user reported erasing his credit card with a first edition Don't Panic case, but the new Don't Panic cases include a magnet isolation clip which massively reduces the magnetism emitted when the case is closed. In addition, Apple uses magnets in their iPad smart covers too. We just thought that you should know about the magnetic properties of the Don't Panic case prior to making your purchase.
If you have any concerns about this or any other issue relating to the Don't Panic case feel free to e-mail me at firstname.lastname@example.org
CEO & Senior Hammock Tester