Hackers Steal Paypal Accounts of iTunes Users

In a recently discovered phishing scam, Apple iTunes users have been reported to have lost thousands of dollars through their PayPal accounts which are linked to their iTunes accounts. Although the scam is being termed as a security loophole, reports are suggesting that the iTunes authentication system has not been compromised, but rather it is a standard phishing scam, many of which have been around for years now.

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“Sources close to Apple tell me iTunes has not been compromised and the company isn’t aware of any sudden increase in fraudulent transactions,” wrote John Paczkowski of Digital Daily. PayPal is announcing that it will be reimbursing the money lost to users via this fraud and also said that the problem is occurring from the ‘iTunes side’.

Apple, on the other hand has maintained a short view that the company knows that the problem is occurring. “Among other new security measures iTunes now requires more frequent re-entry of a customer’s credit card security code,” the Apple spokesperson said. “But if your credit card or iTunes password is stolen and used on iTunes, we recommend that you contact your financial institution and inquire about canceling the card and issuing a charge-back for any unauthorized transactions. We also recommend that you change your iTunes account password immediately.”

This is the second time in a few months that online fraud cases have been identified with respect to iTunes and losers losing their precious cash and information. This event also follows the tightening of Apple’s ID accounts, which are shared by iTunes.

You might be interested in reading:

  • iPad being Targeted by Hackers using Trojan Hacking Method
  • Paypal Introduced New iPhone application with Bank withdrawal Feature

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