Most likely it’s nothing else than a simple fraud to get 15 minutes fame, or more probably to “get some funding through kick starter. so we can get this to market” as the guys wrote under their youtube video. Normally we wouldn’t bother with unreliable news and vids, but come on, even if it’s fake, the idea of controlling Siri with your mind is quite creative, and those flashing red LEDs also deserve to be shared. :) Check the video after the break.
UPDATE: Ok, it’s not likely, but truly fake! Read Interaxon’s detailed post on Why the Brainwave/Siri hack is a hoax, and why it’s important that you know.
More info about the hackers and their thought-controlled iPhone can be found at the Project Black Mirror blogspot page.