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The magnets aren’t that strong, they are just used to locate the bag. There’s a mechanical latch which actually does most of the holding. They’re Fidlock attachments, as used on water bottles and helmet straps. And most hard drives (certainly not the one in your phone) these days aren’t optical, so a magnet won’t erase them anyway.
Got a possibly dumb question about the restrap rando bags. Since the attachment system is magnetic at the bottom of the bag, and presumably it's a strong magnet, how would that interact with a phone or a credit card that I might stash at the bottom? Shouldn't strong magnets destroy hard drives? Seems like a bit of a design oversight?