My 3 series has that key, my Z4 has the old turn style key, it works by connecting the obd to a laptop and using a bmw program called "DIS" I have it on my laptop. Its BMW's own program I have them all on my laptop NCS Expert, Impa, DIS etc great if you want to unlock features on the car. I managed to make the roof open and close using the remote with this software and made the windows one touch up and down stuff like that.
To carry out this type of theft you still have to get into the car to its obd connector, which is impossible without setting off the alarm so its not really any more stealable than anything else. The lady was already sat in the car with alarm disarmed

not exactly difficult from there on... Do it with a car thats alarm is switched on then I might think about blocking it in at night
