ITunes Gift Card Key System Cracked, Exploited

moonbender writes “Fake but working iTunes gift cards are being sold on Chinese auction sites for a fraction of their value: ‘The owner of the Taobao shop told us frankly that the gift card codes are created using key-generators. He also said that he paid money to use the hackers’ service. Half a year ago, when they started the business, the price was around 320 RMB [about ] for [a] 0 card, then more people went into this business and the price went all the way down to 18 RMB [about .60] per card, “but we make more money as the amount of customers is growing rapidly.”‘ The people at Chinese market researcher Outdustry have apparently confirmed this by buying a coupon and transferring it into an iTunes account. Oops.”

Read more of this story at Slashdot.

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